Manage Your Self-Managed Super Funds With A Professional

A Self Managed Superfund is a trust fond in which investments are held and managed by its members with the purpose to provide benefits to fund themselves when they retire. Many people crave the control that comes with setting up an SMSF. However, what you should not forget is that having control over finances brings tons of workload and responsibilities.

That is why if you are not sure whether you are qualified enough to do it yourself and can handle the burden that comes along as a trustee, the smartest thing to do is to hire a professional to help you manage your Self Managed Superfund.

There are some rules and regulations the Australian Taxation Office imposes that you have to follow. The Self Managed Superfund is easy to set up but there are a lot of paperwork and it takes time to figure things out. The SMSF must be compliant with the trust deed as well as all the laws and rules by the ATO that apply to SMSF. You should know that the regulations are strict so it would be a great idea to hire an SMSF professional to help you set up your fund.

The SMSF professionals have experience in the entire process as well as the laws and regulations that apply to your Superfund. Therefore, the job of these experts is to make sure that your fund is compliant with any of the regulations set by the ATO.

Most SMSF professionals offer more services within one office so you will not have to go form one company to another, gathering information on how to set up a Self Managed Superfund to suit your needs.

You can appoint SMSF professionals such as accountants and financial advisers.

• A tax agent can help you prepare the accounts of your fund, its annual financial position and operating statements, complete your SMSF and provide tax advice and represent you in your deals; 

• A legal practitioner can prepare and update the trust deed of your Superfund;

• A financial adviser can help you create your investment strategy;

• A fund administrator can help you manage the running of your fund and meet your administrative obligations and annual reporting.

All of these services need licenses and specific skills, which probably you do not posses. SMSF professionals have most or all of these skills and qualifications, so they are able to tailor your super fund according to your needs.