Expert SMSF Accounting
Wealthcrest: Reliable, Expert SMSF Accountant
Take control of your self-managed superannuation fund (SMSF) with the assistance of Wealthcrest Accountants. We enable you to prepare the benefits you will reap during your, and your member’s retirements, and make sure your dependents are taken care of financially.
Our professional, friendly services include:
- Assistance with setting up an SMSF.
- Preparing financial statements in accordance with the Superannuation Industry Services (SIS) Act.
- Preparing tax returns, member statements and TBAR for the SMSF.
- Managing and liaising with external auditors to provide an annual audit report for the fund’s compliance.
- Advising trustees on maintaining compliance.
- Preparing necessary minutes, as required by the SMSF.
Thinking of setting up an SMSF? To find out how Wealthcrest SMSF Accountants can help you, contact us for a free consultation.
What is a Self-Managed Super Fund?
The name is pretty self-explanatory, this is a fund that is set up by an individual or a group of up to four people — the trustees. The purpose of the fund is to provide financial stability for retirement or provide for your dependents should you die before retiring.
One of the great advantages of an SMSF is that you have control over the investment of your funds. However, there are responsibilities and legal obligations in respect of taxation and what you can invest in. Wealthcrest is an SMSF accounting firm in Sydney that can help you avoid the pitfalls and protect your future.
Setting up and managing an SMSF is a significant financial decision. Wealthcrest’s SMSF accounting and administration services offer you peace of mind knowing your retirement funds are being managed efficiently. We keep you and your trustees informed and make sure all the latest SIS regulations are complied with — and that you receive the benefit of any tax concessions available to you.
As an experienced and trusted SMSF accounting firm, Wealthcrest has your best interests at heart. Contact us for a free consultation.
Setting Up an SMSF
Wealthcrest Accountants can assist with setting up your SMSF. You and your trustees will be expected to keep acceptable records of your SMSF activity throughout the year — it’s a legal tax structure designed solely to provide an income in retirement.
Administering an SMSF yourself can be incredibly complex and time-consuming, so employing the services of an SMSF auditor and advisor will save you time in the long run. At the end of the day, even with advice from a professional, you are ultimately responsible for the decisions made in respect of your SMSF. This is why it’s important to obtain our expert SMSF accounting services — to ensure your SMSF is compliant and working for you.
We have a team of trusted experts with a wealth of experience to ensure your retirement fund meets your requirements — including audits, insurance and more.
Set up your Self Managed Super Fund powerfully to ensure you make the most out of the tax and savings benefits of an SMSF. Contact Wealthcrest, your expert Sydney and Bella Vista SMSF Accountants, for a discussion today.
Pension Reviews
Pension reviews are important for checking you have sufficient liquid assets to make your annual pension payments and to minimise the tax payable on your SMSF. Wealthcrest Accountants review your pensions on a continuing basis to verify that current SIS and tax requirements are satisfied.
We offer proactive strategic advice in respect of pension re-contributions and withdrawals. This ensures your wealth is protected and maximised for you and your family members in the future.
Contact Wealthcrest Accounts for your free consultation for a pension review.
TBAR Reporting
TBAR or Transfer Balance Account Reporting is a requirement for trustees of an SMSF to report certain information on an ongoing basis to the ATO. This includes annual or quarterly movements and transactions of balances within the fund for members who are in the retirement phase.
Wealthcrest Accountants will assist you to make sure these reports are submitted in a timely manner and are accurate. Delays in reporting or providing inaccurate information can mean penalties in the form of fines or extra tax — so it’s important to lodge the TBAR requirements on time and correctly.
Contact our expert SMSF accountants to remain compliant and save money.
Superannuation Advice and Reviews
Proactively reviewing your superannuation contributions helps increase your assets while keeping tax-deductible concessions at their maximum levels. Wealthcrest can assist in recognising opportunities to increase your superannuation through contributions that could fit your circumstances — ultimately protecting your wealth. These include small business capital gains tax (CGT) concessions for retirement, downsizer contributions and co-contributions.
We will help identify a tax-effective strategy for your superannuation while making sure you have all the documentation to comply with current SIS regulations. We will also look to minimise the tax obligations of passing your pension onto your beneficiary through our proactive planning. After all, you want your wealth passed on to your family rather than the taxman.
"Wealthcrest partners with trusted financial advisors and planners, lawyers and other experts so you receive the benefit of their, and our, knowledge and expertise."
Let us make sure your superannuation is working for you. Contact Wealthcrest SMSF accountants today.
SMSF Compliance
We have mentioned how important it is to ensure that all reporting in respect of your SMSF is done accurately and on time. Our friendly, professional SMSF accountants and our expert team can help with the compliance your SMSF needs, including:
- Preparing members statements, tax returns, and TBAR.
- Advice for trustees on maintenance and compliance.
- SIS financial statement preparation.
- Advice on commutations and drawdowns on pensions.
- Liaison and management of external auditors in relation to your annual audit report of the fund’s compliance.
- Preparing necessary minutes as required by the SMSF.