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

Andrew Patrick

Senior Accountant/Associate Director
(07) 5444 1022
andrew@gpla.com.au

Read More

Legal & Accounting Full Service Sunshine Coast Law Firm

 

Greenhalgh Pickard Solicitors and Accountants is an innovative, full service, Queensland law firm and accounting firm with 3 convenient law offices on the Sunshine Coast. Our clients predominantly live and work on the Sunshine Coast but we've many clients also located throughout Queensland, interstate and even overseas.

With accounting and law firm offices in Caloundra, Kawana and Coolum Beach, Greenhalgh Pickard Solicitors and Accountants takes pride in being trusted legal guides and financial business accountant advisers to clients everywhere.

Whether you wish to make a Will, Enduring Powers of Attorney or Advanced Health Directive, need assistance to administer an estate, require a Binding Death Benefit Nomination, or you're planning on contesting a will. Lawyers from Greenhalgh Pickard can help.

 

 

 

Gender parity in 2022!

Gender parity in 2022!

The past decade has seen an exponential increase in female representation within the legal industry, growing by 67% since 2011. As a young aspiring female working within the corporate world, I'm proud to be a part of this statistic.    In 2016,...

Domestic Violence Q & A: Living with your perpetrator

Domestic Violence Q & A: Living with your perpetrator

What happens if the aggrieved lives with the perpetrator?   If you currently share a roof with your perpetrator, your safety is paramount. The first step is developing a SAFETY PLAN. A Domestic Violence protection order is often part of your...

Tips to prepare your business for the holiday season

Tips to prepare your business for the holiday season

Is your business wrapping up for Christmas?   With Christmas just around the corner, we’ve put together some helpful tips for small businesses to prepare as we head into the holiday season!Top tips for business owners over the break:  1. Communicate...

Employers! Are you ready for December 17?

Employers! Are you ready for December 17?

What do the new restrictions for unvaccinated individuals mean for employers?   Businesses should be taking reasonable steps to ensure staff and customers comply with the vaccination entry requirements.   In effect as of 17 December 2021,...

Unfair Dismissal & COVID-19

Unfair Dismissal & COVID-19

The evolving employment landscape amidst COVID-19 - Employment Solicitor, Harry McDonald discusses unfair dismissal COVID-19 has impacted our working lives in many ways. Some employers mandated vaccinations, some mandated masks. However COVID-19...

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