SMSF Establishment & Ongoing Tax Compliance Services
At Bold Accounting, we provide specialised Self-Managed Superannuation Fund (SMSF) services, offering both SMSF establishment and ongoing tax compliance support. Our team of experienced accountants ensures that your SMSF operates smoothly, complying with all relevant regulations while giving you peace of mind.
We help you set up your SMSF with the highest level of professionalism and guide you through the complex tax and compliance requirements. Our services are designed for those who want more control over their superannuation funds but need expert assistance in navigating the regulatory landscape.
SMSF Establishment
We can’t tell you whether an SMSF is appropriate for you (we aren’t financial planners!) but once you have made the decision to establish an SMSF, it can seem like a daunting task. We do all the heavy lifting for you and make the process streamlined and straightforward. We take care of the paperwork, legal documentation, and the compliance checks, ensuring that your SMSF is set up correctly from the start.
Our SMSF Establishment Services Include
Establishment of the Trust Deed
We work with our solicitors to draft the SMSF trust deed, which is the foundation of the fund.
SMSF Trustee
Setup
Setting up individual trustees or a corporate trustee, depending on your preference and circumstances.
ABN & TFN Registration
Applying for an Australian Business Number (ABN) and Tax File Number (TFN) for the SMSF.
Compliance Check
Ensuring the SMSF complies with all regulatory requirements from day one, including the Australian Taxation Office (ATO) rules.
Ongoing Tax Compliance
Once your SMSF is established, it’s important to maintain compliance with ongoing tax and regulatory obligations. Bold Accounting offers comprehensive support for all ongoing SMSF tax compliance requirements, ensuring your fund remains compliant and up to date.
Our Ongoing SMSF Compliance Services Include
Annual Tax Returns
Preparing and lodging your SMSF’s annual tax return to the ATO.
Auditing
Organising and assisting with the annual SMSF audit conducted by an independent auditor.
Financial Statements
Preparing your SMSF financial statements, including balance sheets, profit and loss statements, and member statements.
Tax Advice & Guidance
Providing advice on matters such as concessional and non-concessional contributions, capital gains tax, and more.
Regulatory Updates
Keeping you informed about any changes to SMSF legislation and regulations that might affect your fund.
Why Choose Bold Accounting
Expertise: We have years of experience in SMSF accounting and tax compliance.
Personalised Service: We understand that every SMSF is unique, and we offer tailored services to suit your specific needs.
Compliance Focused: We make sure your SMSF remains compliant with the ever-evolving rules set out by the ATO and other regulatory bodies.
Transparency: We offer clear communication about all fees and services, ensuring no surprises along the way.
Frequently Asked Questions
-
A Self-Managed Superannuation Fund (SMSF) is a type of superannuation fund that allows individuals to manage their own retirement savings. SMSFs are regulated by the Australian Taxation Office (ATO), and they give individuals control over how their superannuation is invested.
-
The cost of setting up an SMSF depends on the complexity of the setup, the structure of the fund, and whether additional services are required. At Bold Accounting, we provide transparent pricing and will outline all costs upfront so there are no surprises.
-
While we offer expert accounting and tax services, we do not provide financial advice. If you require specific investment advice, we recommend speaking to a licensed financial advisor.
-
Your SMSF will have several ongoing obligations, including lodging an annual tax return, having the fund audited, maintaining accurate records, and complying with ATO regulations. Bold Accounting can handle these obligations for you, ensuring your SMSF remains compliant.
-
Non-compliance with SMSF regulations can result in significant penalties, including fines and the potential for the fund to be disqualified by the ATO. It is essential to stay on top of compliance requirements, which is why our ongoing SMSF services are designed to ensure your fund remains in good standing.
-
The process of establishing an SMSF typically takes around 2-3 weeks. This includes the preparation of legal documents, registering your fund with the ATO, and ensuring everything is set up for compliance.
-
Yes, an SMSF can borrow money (based on the lender’s credit criteria) and invest in residential property, commercial property and many other assets. There are some special rules that apply, which we can talk you through and refer you to a specialist SMSF finance broker.
Book your Free SMSF Initial Consultation
If you're ready to establish your SMSF or need help with ongoing compliance, Bold Accounting is here to assist you every step of the way.
Book an initial consultation to get started today.
Disclaimer
Bold Accounting provides accounting and tax services for SMSFs but does not provide financial advice. If you are seeking investment advice, we recommend consulting a licensed financial advisor.