Self-Managed Super Fund Services (SMSF)
Take control and grow your superannuation benefits.
SMSF gives you greater control but more responsibility.
Our team at JV Tax Accountants are highly-skilled SMSF Administrators and can assist with establishing and and ongoing management of your SMSF. This includes ensuring that it adheres to all SMSF Rules and Regulations.
SMSF gives you oppurtunity to Improve your investment choice.
SMSF provides flexibility, investment choice, and control over the management of your superannuation benefits. It also offers possible tax saving opportunities.
If you’re one of the growing number of Australians who are dissatisfied with the performance of your retail or industry superannuation fund, SMSF might be an option for you. Contact us today for expert SMSF advice.
We’ll carefully tailor a plan just for you.
1. We will gather an understanding of where you are now and where you want to be.
2. We create tailored solutions and device a plan to achieve your goals and objectives.
3. We implement and manage your plan.
Frequently Asked Questions
What is a SMSF?
A Self-Managed Super Fund (SMSF) is a superannuation fund, where control is kept in the hands of its members. The members decide how the fund will operate and what investments the fund will invest in.
What are the benefits of setting up a SMSF?
The benefits of operating a SMSF are that you have more control over how your funds are invested, more choice of investments, more taxation benefits, and protection of assets in the event of bankruptcy or other legal claims. For larger balances, savings in administration costs can be achieved.
How long does it take to set up a SMSF?
This will depend on a number of factors, however, typical time frames range from one to four weeks.
What funds are used to create a SMSF?
There are three ways of transferring money or assets into a new fund. You can contribute to the fund non-concessionally from savings, have your employer make a concessional (or SG) contribution, or roll over existing superannuation benefits into the fund (most common).
Who can be a trustee of a SMSF?
The trustee can have either an individual or a corporate trustee (company) structure. A single individual must have a corporate trustee as the fund cannot have a single individual as trustee (and member). You must be over 18 years of age, free from bankruptcy, and not convicted of dishonesty charges.
How many members can be in a SMSF?
A SMSF cannot have more than 4 members and all members must be Trustees of the fund. There is currently legislation moving through Parliament to increase this to 6 members.
Can my employer contributions be paid to my SMSF?
Yes. With the introduction of superannuation choice of fund in 2005, you can instruct your employer to pay your superannuation contributions directly into your SMSF. Employers have a legal obligation to pay your super into your nominated fund (this includes SMSFs).
Can the fund provide insurance?
Yes, with a SMSF you can organise term life, total and permanent disablement and income protection cover to insure the members of the fund. The SMSF can pay the cost of the insurance and claim it as a tax deduction to the fund. Nexus can assist you in selecting the best insurance options for your SMSF.
What are the ongoing costs of a SMSF?
SMSF administration fees can be paid by the fund. Nexus charges under $2,000 pa (inc GST) for SMSFs with simple investment structures and under $2,500 pa (inc GST) for more complex structures. This fee includes all annual compliance and tax requirements of your SMSF including the administration, financial statements, independent audit, and tax returns.
