1SMSFAudit in Sydney, Australia | Local service

1SMSFAudit

Locality: Sydney, Australia

Phone: +61 1300 920 189

Address: Plaza Building 87-95 Pitt St 2000 Sydney, NSW, Australia

Website: http://1smsfaudit.com.au

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25.01.2022 www.1smsfaudit.com.au An SMSF is a complex undertaking and you can't do it all yourself. Each year you'll need to appoint an approved SMSF auditor to audit your fund.... You can also engage other SMSF professionals, such as accountants and financial advisers, to help you set up and run your fund. An accountant can help prepare your fund’s accounts and its annual financial position and operating statements. A tax agent can complete and lodge your SMSF annual return, provide tax advice and represent you in your dealings with us. You can check if your tax agent is registeredExternal Link at the Tax Practitioners Board. A fund administrator can help you manage the day-to-day running of your fund and meet your reporting and administrative obligations. A legal practitioner can prepare and update your fund’s trust deed. A financial adviser can help you prepare an investment strategy and advise you about the different types of investment and insurance products. The ASIC website has information about choosing a financial adviserExternal Link. If you use an SMSF professional to help you set up your fund, you're still responsible for making sure it's done correctly. www.1smsfaudit.com.au

24.01.2022 www.1smsfaudit.com.au Member and trustee requirements (Individual trustees) Maximum of four members.... Each member of the fund must be a trustee, and each trustee must be a member of the fund (except for single-member funds see below). A member cannot be an employee of another member (unless they are relatives). Single-member funds There must be two trustees. One trustee must be a fund member. If the fund member is an employee of the other trustee, the fund member and the other trustee must be relatives. www.1smsfaudit.com.au

23.01.2022 Why are SMSFs so popular? Surely there must be reasons behind this growing trend for Australians to manage their own superannuation. Well the simple answer is yes. There are many benefits to running a SMSF, and it is not just cost. These benefits include: Investment choice: Including but not limited to direct shares, direct property, hedge funds, art work, lease of business premises, CFDs, Warrants, Options or borrowing. Tax Control: A major benefit becoming more w...idely known is the control and flexibility that trustees have over the tax position of the fund. With strategic planning tax can be minimised and in some cases completely eliminated. Borrowing: Superannuation law has changed to allow borrowing within funds. These changes are more readily utilised in a SMSF as opposed to large corporate funds. Pension Planning: A SMSF allows the most seamless and flexible transition from the accumulation phase into flexible retirement income streams. Estate Planning: This is a not so well known strategic benefit of a SMSF. You are able to leave tax advantaged (sometimes tax free) income streams to dependent beneficiaries with control around when they receive lump sums. A SMSF allows you to look after child beneficiaries in a way that no other structure can match. Implemented correctly, the SMSF can become a tax advantaged multi generation wealth vehicle. Asset protection: As in commercial superannuation funds, your assets offer a layer of protection against litigation. The benefit of the SMSF is the type of assets you can move into the fund to provide this protection to. Cost: You can have up to four members in your fund at no extra cost. The annual fees are now spread amongst four people. An option not available in the corporate funds. Combined with the other cost benefits in running your own SMSF and the savings this can make to your fund balance can be dramatic due to the effect of compounding. This is not a definitive list of the benefits associated with the SMSF. Nor is the commentary on each advantage extensive enough to cover your individual circumstances. There will be more information available on these advantages in the Learning Centre. It is also Super Mentor's recommendation that you get professional advice to gain the greatest benefit out of your SMSF.

22.01.2022 Thinking about self-managed super If you set up a self-managed super fund (SMSF), you're in charge you make the investment decisions for the fund and you're held responsible for complying with the super and tax laws. It's a major financial decision and you need to have the time and skills to do it. There may be better options for your super savings. It's best to see a qualied , licensed professional to help you decide. The Australian Securities and Investments Commission w...ebsite has information about choosing a financial adviser. An SMSF must be run for the sole purpose of providing retirement benefits for the members or their dependants. Don't set up an SMSF to try to get early access to your super, or to buy a holiday home or artworks to decorate your house. These things are illegal. An SMSF must be run for the sole purpose of providing retirement benefits for the members or their dependents. Don't set up an SMSF to try to get early access to your super, or to buy a holiday home or artworks to decorate your house. These things are illegal.

21.01.2022 How self-managed super funds work: SMSFs are a legal tax structure with the sole purpose of providing for your retirement. SMSFs are regulated by the Australian Taxation Office (ATO). An SMSF can have one to four members. Each member is a trustee (or director if there is a corporate trustee).... Running your own fund is complex. When you run your own SMSF you must: # Carry out the role of trustee or director, which imposes important legal duties on you # Set and follow an investment strategy that ensures the fund is likely to meet your retirement needs # Use the money only to provide retirement benefits # Keep comprehensive records and arrange an annual audit by an approved SMSF auditor. Important: (If you decide to set up an SMSF you are personally liable for all the decisions made by the fund even if you get help from a professional or another member makes the decision.) If you're running an SMSF you will typically need: # A large amount of money in the fund to make set up and yearly running costs worthwhile # To budget for ongoing expenses such as professional accounting, tax, audit, legal and financial advice # Enough time to research investments and manage the fund # The financial experience and skills to make sound investment decisions # To organise life insurance, including income protection and total and permanent disability cover.

21.01.2022 www.1smsfaudit.com.au More than one million Australians are members of an SMSF*, opting for more control over how their retirement savings are invested. But SMSFs come with risks you need to be aware of and require time, responsibility and knowledge. Here we help you understand what you need to know before deciding whether to set up an SMSF. www.1smsfaudit.com.au

20.01.2022 How does an SMSF work? An SMSF is a trust structure, requiring a trustee. The trustee is legally responsible for the management of the fund’s assets and has the job of running the fund and ensuring it remains compliant. To comply with the law, an SMSF needs to:... # Have four or less members # Each member of the fund also needs to be either an individual trustee, or a director of the corporate trustee # No member of the fund can be employed by another member of the fund unless those two people are related # The trustees of an SMSF cannot receive any remuneration for performing that role.

16.01.2022 We want to work with you .

11.01.2022 www.1smsfaudit.com.au SMSF Audit Key Words : SMSF Audit ... SMSF Auditor SMSF Auditor in Sydney SMSF Auditor Sydney SMSF Auditor in Melbourne SMSF Auditor Melbourne SMSF Auditor in Perth SMSF Auditor Perth SMSF Auditor in Adelaide SMSF Auditor Adelaide SMSF Auditor in Brisbane SMSF Auditor Brisbane SMSF Auditor in regional Australia SMSF Auditor online Online SMSF auditor Cheap SMSF auditor Cheap SMSF audit Low cost SMSF auditor Fast SMSF audit Quick SMSF audit Investment strategy SMSF Investment strategy SMSF financial statement SMSF bookkeeping Self managed superfund Superfund audit online SMSF audit SMSF audit specialist www.1smsfaudit.com.au

11.01.2022 www.1smsfaudit.com.au Get started with 1 SMSF Audit: www.1smsfaudit.com.au

09.01.2022 www.1smsfaudit.com.au Knowing your Super Guarantee entitlements If you’re employed, you’re generally entitled to receive compulsory super contributions from your employer, also known as Super Guarantee (SG) contributions. Knowing some simple facts about SG can help you make sure that you’re getting what you’re entitled to. This is important because every SG contribution counts towards the amount of money you’ll have when you eventually stop working. www.1smsfaudit.com.au

06.01.2022 www.1smsfaudit.com.au You can choose one of the following structures for your fund: # up to four individual trustees # a corporate trustee (essentially, a company acting as trustee for the fund).... The two structures differ in terms of: # Member and trustee requirements # Cost # Ownership of fund assets # Separation of assets # Penalties # Succession You should discuss this decision with an SMSF professional. So we are here for you.... www.1smsfaudit.com.au

04.01.2022 www.1smsfaudit.com.au An SMSF may be right for you if: You want... # Control over how you invest # Accountability for your super fund # More options tailored to your circumstances # Potential cost savings depending on your circumstances # More flexibility in how you pass on your wealth. and you have # Investment knowledge, experience and skills # The time to actively get involved in researching and managing your investments # Commitment to keep up with the rules and regulations # A large enough super balance to make an SMSF cost effective and allow you to diversify your investments # An understanding of the fact that SMSFs are treated differently in the case of fraud, compared with other super funds. www.1smsfaudit.com.au

02.01.2022 www.1smsfaudit.com.au Create the trust and trust deed A trust is an arrangement where a person or company (the trustee) holds assets (trust property) in trust for the benefit of others (the beneficiaries). A super fund is a special type of trust, set up and maintained for the sole purpose of providing retirement benefits to its members (the beneficiaries). www.1smsfaudit.com.au