How to Set up an individual Self-Managed Super Fund
Clever local business owners in Geelong are now taking back command over their retirement savings with self managed superannuation funds that can lower your tax debts and maximise returns to achieve financial independence.
Geelong SMSF Advisor
BV Tax Law Financial Accountants can take care of all the administration, accounting and taxation, compliance, and the annual SMSF audit, for you spend your time focused on investing for the future.
What is a self-managed superannuation fund?
A self-managed super fund (SMSF) is a legal structure that holds a person’s retirement savings however which is managed closely by that person, instead of an industry super fund or employer operated superannuation fund. An SMSF can give you better control over your financial long-term, allowing you many more investment options.
What is the minimum amount for a SMSF?
It’s also essential to keep in mind, that our firm typically recommend clients have a minimum of $300,000 in combined retirement assets before considering setting up an SMSF.
SMSF Set-up Costs Geelong
What’s included when you set up your self-managed super fund
Set up Fees (inc GST)
- Individual SMSF account establishment (one-off fee) $495.
- Fund establishment.
- Trust deed.
- Registration with ATO including ABN and TFN application.
- Corporate Trust establishment fee ( if applicable) $715.
Setup SMSF for your Family.
You can start a SMSF fund for yourself and up to three other people and combine your super balances. This can enable you to acquire assets of higher value than if you set up a fund with fewer members, achieve significantly greater estate planning flexibility and reduce the running costs of the fund.
SMSF Accountant Geelong.
BV Tax Law Financial Geelong provides a wide variety of expert SMSF advice from our award winning SMSF Specialists. Our SMSF services are amongst the best in Australia . Our Geelong team can provide:
- SMSF set up
- SMSF structuring
- SMSF borrowing and investing
- SMSF administration, auditing and compliance.
SMSF Accounting Geelong SMSF Advice.
BV Tax Law Financial Geelong offers company accounting and advice, financial planning and SMSF advice to the Geelong, Newtown, Newcomb, Geelong East, Geelong West, South Geelong, Herne Hill, Manifold Heights, Newtown, Thomson, Whittington and neighboring areas. Our team have particularly strong relationships with local business and high wealth individuals.
High Level Control Over Your Wealth
More flexible investment choice:
Through your SMSF, you can choose from a wider variety of investments including all listed shares, some unlisted shares, residential, commercial and business property, and collectables including artwork, stamps and coins.
SMSF Borrowing to Buy Property in you SMSF
Borrowing within that fund to enable the purchase an investment property.
The rules for SMSFs borrowing are stringent and it is important that you speak with a qualified self managed super funds borrowing specialist .
A few benefits of buying property within your SMSF;.
- Zero capital gains tax (CGT) when you sell the property in retirement.
- No income tax on rental income on retirement.
- The loan is paid off using super contributions and rental income.
- The assets in the SMSF are protected.
Buying your business premises with SMSF.
This buying structure is strongly beneficial from a taxation and asset protection perspective and it is mainly for these reasons that SMSFs are popular investment vehicles in Australia.
Before purchasing your own business premises, you should consult with your accountant, financial planner as well as mortgage broker to discuss the applicable advantages and disadvantages for your circumstances.
Local SMSF Tax Advice
BV Tax Law Financial in Geelong, VIC can provide Control and Flexibility to your Super Fund. We can assist you pool family assets, make decisions to grow your wealth for retirement and build a strategy for their inheritors and their own later years.
Discover if self managed super is ideal for your situation.
Our planners and tax advisors would love to help you to change investments and the structure of your super as needed, and to implement effective tax strategies.
How to Contact Us:
For more information on setting up self-managed super and planning for your retirement, please contact our Geelong SMSF financial advisors today. We service: Geelong, Newtown, Newcomb, Geelong East, Geelong West, South Geelong, Herne Hill, Manifold Heights, Newtown, Thomson, Whittington and surrounding areas as well.
- Business structuring Geelong
- Tax Planning Geelong
- Estate Planning Geelong
- High Wealth Financial Planning Geelong
- Charity Philanthropy Ethical Investing Geelong
For BV Family Law Advice click here.
Specialist SMSF Accounting Firm in Geelong VIC also servicing Newtown, Newcomb, Geelong East, Geelong West, South Geelong, Herne Hill, Manifold Heights, Newtown, Thomson, and Whittington.
BV Financial Advisors Geelong are affordable accountants and legal advisors. Ask about if self managed super is the right choice for you. VIC specialists for SMSF property and loans for business and high wealth families. Call us for a free initial assessment
Phone: 1300 663 540
- How to Set up an individual Self-Managed Super Fund
- Geelong SMSF Advisor
- What is a self-managed superannuation fund?
- What is the minimum amount for a SMSF?
- SMSF Set-up Costs Geelong
- Set up Fees (inc GST)
- Setup SMSF for your Family.
- SMSF Accountant Geelong.
- SMSF Accounting Geelong SMSF Advice.
- High Level Control Over Your Wealth
- SMSF Borrowing to Buy Property in you SMSF
- Buying your business premises with SMSF.
- Get Advice on Running Your SMSF
- Local SMSF Tax Advice
- Discover if self managed super is ideal for your situation.