Self-Managed Superannuation Funds

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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

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