Self-Managed Superannuation Funds

Home » Accounting » Self-Managed Superannuation Funds

Self-Managed Superannuation Funds (SMSFs) provide you with more control of your financial future, but can prove to be a compliance minefield if not set up or managed effectively.

Greenhalgh Pickard can assist you by setting up the fund and helping you to meet its administration, tax and legal obligations.

With an understanding that a SMSF is only as good as the trust deed it is founded upon, Greenhalgh Pickhard’s team of accountants and solicitors always carefully construct deeds to meet your needs.

As superannuation is a constantly evolving field and compliance issues can be very costly, Greenhalgh Pickhard can also provide you with all the ongoing advice you require through the life of your SMSF and ensure your fund is fully compliant at all times.

In particular, Andrew Patrick is an accountant with extensive experience in the area of Self-Managed Superannuation Funds.

If you need advice relating to SMSFs, call (07) 5444 1022.

What is an SMSF?

Essentially a small superannuation trust with the primary purpose of providing retirement benefits, with a Self-Managed Superannuation Fund the members themselves act as trustees – meaning they run it, so have complete control including over investments made.

An SMSF is defined as a super fund where:

Z
There are up to four members
Z
All members are trustees (or directors if corporate trustee, with all directors also members)
Z
No trustees receive any remuneration for performing their trustee services

An exception applies for a single-member SMSF, in which case either of the following criteria must be met:

Z
There are two trustees, with one being a member
Z
A company acts as trustee and the member is the sole director of the corporate trustee or one of two directors of the company

Super funds, including SMSFs, receive generous tax concessions as an incentive for people to save for their retirement. Almost anyone can set up a SMSF, however SMSF trustees must follow superannuation laws to receive the tax concessions.

If you need advice relating to SMSFs, call (07) 5444 1022.

Greenhalgh Pickard’s SMSF compliance experts

The Firm

Greenhalgh Pickard is an innovative Queensland accounting and law firm, with clients predominantly living and working on the Sunshine Coast or the Whitsunday Coast but with many clients also located throughout Queensland, interstate and even overseas. With offices in Caloundra, Kawana, Coolum Beach and Airlie Beach, Greenhalgh Pickard takes pride in being trusted guides and advisers to clients everywhere.

Recent News

Here are some thoughts from us

Buying property through your Self Managed Super Fund

Buying property through your Self Managed Super Fund

  There is still a lot of uncertainty around the future of our property market. Most forecasters are predicting a drop in property prices, but by just how much is still unknown. Whilst property only makes up around 13% of the total estimated...

read more

Jobkeeper

The last few months have been an intense period of survival for many business owners, and it’s not over yet. This next phase will be one of inevitable scrutiny, particularly around JobKeeper entitlements. Here’s what you need to know.   Errors in...

read more

Early access to Super

  As at the end of June 2020, Australian’s had accessed $25billion in early access Super, a Government scheme put in place to help people financially affected by the ongoing Coronavirus Pandemic. When the scheme first opened back on April 20,...

read more

Contact Your Nearest Office

If you are interested in meeting with an accountant or lawyer regarding your business or commercial interests, please fill out the form to book an appointment or call (07) 5444 1022