Self Managed Super Funds
Do you have an existing SMSF, or are you thinking it might be a good idea? We have a broad experience is this area and can provide tax planning advice and ongoing assistance with your SMSF. We have all the tools to help you set up and manage your SMSF optimally. We provide expert strategy advice in Superannuation and Self-Managed Super Funds.
We provide a comprehensive range of services and support to small business owners to help you with every aspect of your business. We aim to help you to improve your profitability and minimise your taxation by being pro-active and timely with reliable and personalised service.
If you have in-house accounting or bookkeepers, we can work with them to support your team and provide tax and accounting assistance as the year progresses. We are always looking for ways to reduce your compliance costs and minimising your taxes.
We regularly deal with a range of tax issues and we make a point of understanding the tax needs of every client. Whether you need advice on structuring your investment portfolio, maximising your deductions on your investment property, or just making the best of your personal tax position, we are here to help.
ALT Super+. Accountants and superannuation experts.
Have you ever considered the advantages of setting up a Self-Managed Superannuation Fund (commonly known as "SMSFs") to invest part of its funds in direct property and other assets such as term deposits?
Would you like a new building from which to run your business but do not have the cash flow to make the purchase?
Would you like to take control of your superannuation and retirement nest egg? Do you have a SMSF and would like to invest it in property but your superannuation is just not enough?
The above questions are but a few of the growing number of recent enquiries fielded by ALT Super+ from its clients seeking to improve their knowledge of SMSFs and taking greater control over their superannuation and retirement planning.
To the right is a summary of the pros and cons of SMSFs.
General advice warning
The information provided on this website is General Advice only and is prepared without taking into account your objectives, financial situation or needs. You should therefore consider the appropriateness of the information provided above in the light of your own objectives, financial situation or needs, before acting on the advice.
If the advice relates to the acquisition or possible acquisition of a particular financial product, you should obtain a copy of, and consider, the Product Disclosure Statement (PDS) for that product before making any decision.
Note that by accepting General Advice only, you risk receiving a financial product that may not be appropriate to your overall personal circumstances and needs.
A word of caution
SMSFs are a highly specialised and regulated area. They may not be appropriate for you considering your personal circumstances and needs. We strongly recommend that you seek advice from a suitably qualified professional.
- You may use a borrowing arrangement within your SMSF to purchase any asset it is legally allowed to own
- If you prefer direct property as an investment, one way you may be able to afford to do this in an SMSF is through a borrowing arrangement
- If a property is purchased for business purposes, superannuation law allows it be leased for business use to you, your business or a related party
- An investment in direct property may generate an investment return superior to other investments
- The SMSF can potentially borrow from a bank, your business, your family group of companies or any other source
- Tax rates in superannuation are lower than for most individuals and companies:
- Income on the property investment within the SMSF is taxed at 15%
- If you sell the property after the first year, tax on any gain you make is at 10%
- Once you reach age 55 plus, these tax rates can be reduced to 0%
- If you already have a SMSF, your annual tax return and accounting fees should not increase, as the investment will only add a handful of transactions each year
- You need to have a SMSF in place to make use of these rules
- Setting up a SMSF will incur an upfront cost and ongoing yearly costs, which you should compare to the costs of your existing superannuation arrangements
- Running a SMSF takes a commitment of time throughout the year to keep all its affairs up to date
- If you choose a poor property investment, you can potentially lose all of the superannuation benefits you invest
- There will be a lot of paperwork you need to read and sign in order to purchase the property in a SMSF
- Beware of people that only tell you about SMSF borrowing because they are trying to sell you a property any way they can