How to Set up an individual Self-Managed Super Fund
Intelligent business owners in Newcastle are now getting back command over their retirement with self managed superannuation funds that can lower your tax debts and maximise returns in order to achieve financial independence.
Newcastle SMSF Advisor
BV Tax Law Financial Accountants can care for all the administration, accounting , taxation, compliance, and the yearly SMSF audit, for you devote your time focusing on investing for the retirement.
What is a self-managed superannuation fund?
A self-managed super fund (SMSF) is a legal structure which maintains an individual’s a person’s retirement savings however which is managed closely by that person, as opposed to an industry fund or employer operated superannuation fund. An SMSF can give you increased control over your financial long-term, allowing you many more investment options.
What is the minimum amount for a SMSF?
It’s also critical to bear in mind, that we typically suggest clients have a minimum of $300,000 in combined retirement assets before considering setting up an SMSF.
SMSF Set-up Costs Newcastle
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 set up a super fund for yourself and up to three other people and centralize your super balances. This may enable you to acquire assets of higher value , achieve greater estate planning flexibility and reduce the running costs of the fund.
SMSF Accountant Newcastle.
BV Tax Law Financial Newcastle offers a wide variety of professional SMSF advice from our local award winning SMSF Specialists. Our SMSF services are among the best in Australia. Our Newcastle team can provide:
- SMSF set up
- SMSF structuring
- SMSF borrowing and investing
- SMSF administration, auditing and compliance.
SMSF Accounting Newcastle SMSF Advice.
BV Tax Law Financial Newcastle delivers commercial accounting & advice, financial planning and SMSF advice to the Newcastle, Merewether, Cardiff, Broadmeadow, Hamilton, Newcastle West, Lambton and surrounding areas. Our team have particularly strong relationships with local business and high wealth individuals and specialises in proactive advice.
High Level Control Over Your Wealth
More flexible investment choice:
Through your SMSF, you can select from a wider range of investments including all listed shares, some unlisted shares, residential, commercial and business property, and collectables such as artwork, stamps and coins.
SMSF Borrowing to Buy Property in you SMSF
Borrowing within your fund to purchase an investment property.
The regulations for self managed super funds borrowing are stringent and it is essential 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 exceptionally beneficial from a taxation and asset protection perspective and it is mostly for reasons such as this, that SMSFs are such 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 all the applicable advantages and disadvantages in your circumstances.
Local SMSF Tax Advice
BV Tax Law Financial in Newcastle, NSW can provide Control and Flexibility to your Super Fund. We can assist you pool family assets, make decisions to grow wealth for retirement and establish a strategy for their heirs and their own later years.
Discover if self managed super is ideal for your situation.
Our planners and tax advisors can assist you to select 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 Newcastle SMSF financial advisors today. We service: Merewether, Cardiff, Broadmeadow, Lambton and surrounding areas as well.
- Business structuring Newcastle
- Tax Planning Newcastle
- Estate Planning Newcastle
- High Wealth Financial Planning Newcastle
- Charity Philanthropy Ethical Investing Newcastle
For BV Family Law Advice click here.
Specialist SMSF Accounting Firm in Newcastle NSW also servicing Merewether, Cardiff, Broadmeadow and Lambton.
BV Financial Advisors Newcastle are affordable accountants and legal advisors. Ask about if self managed super is the right choice for you. NSW 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
- Newcastle SMSF Advisor
- What is a self-managed superannuation fund?
- What is the minimum amount for a SMSF?
- SMSF Set-up Costs Newcastle
- Set up Fees (inc GST)
- Setup SMSF for your Family.
- SMSF Accountant Newcastle.
- SMSF Accounting Newcastle SMSF Advice.
- More Newcastle Locations
- 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.