Managing Your Self Managed Super Fund (SMSF)
While the financial benefits of an SMSF are numerous, there are particular guidelines and rules surrounding SMSFs, which need to be followed to ensure you remain compliant while still getting the most out of your investments.
Managing the administration of an SMSF on your own can be daunting and time consuming with the mandatory assessments, reporting, auditing and compliance responsibilities associated with managing your own superannuation fund, not to mention the ongoing correspondence with the ATO – especially if you are new to an SMSF.
There can also be significant risks associated with poorly managed funds, such as fines and penalties for trustees which is why it is critically important to consult with an experienced industry professional.
What is SMSF Administration?
The team at Supersense take care of all of your administration requirements from accounting, ATO & compulsory reporting to the processing and consolidation of the required SMSF paperwork.
Professional, accurate administration of your fund by SuperSense means you will not have to worry about the overwhelming paperwork and administrative duties and can instead focus your time and efforts on getting the most out of your investment strategy.
Our comprehensive SMSF administration service means you will also have access to a range of banking, and other financial services should you require them.
What is included?
With the ongoing requirements of administration duties, an SMSF can often become too much to take care of on your own. That is why we offer the following services:
- Preparation of accounts and tax return
- Preparation and submission of the fund’s annual audit on your behalf
- Correspondence with the Australian Tax Office on your behalf
- Preparation of Business Activity and Instalment Activity Statements
- Lodgment of all tax returns and activity statements. (SuperSense is a registered tax agent)
- Preparation of pension commencement documentation
- Liaising with lawyers to keep your fund’s trust deed up to date
- Obtaining an actuary certificate if required
- Maintaining and monitoring daily transactions from your bank