Gold and Silver Bullion | Precious Metals Once in a while, an SMSF member would come to us and ask, “Can my SMSF hold gold and silver?” The straightforward answer to this question is – yes, an SMSF can invest in precious metals such as gold, silver and platinum. Many trustees prefer to hold a portion of their SMSF in these metals as a hedge against inflation and equity markets. The theory behind this is that SMSF investors diversify their portfolio by using non-correlated asset classes such as physical bullion. Our firm consist of lawyers and accountants who provide advice on the superannuati ..read more

SMSF Investing in International Property As property prices have risen in Australia due to rising demand, many Self-Managed Super Fund (SMSF) trustees are now looking further afield for more potentially cost-effective investments.  This has led to foreign properties becoming an attractive investment for SMSFs. Like with Australian property, there are rules and restrictions as to what you can use the property for: You are unable to live in the property or rent it to a related party. This includes being able to use it as a temporary holiday home (unless the property is commercial). The pro ..read more

Can I live in my SMSF property when I retire? Conditionally, yes, you can live in the SMSF property once retired but under certain conditions including that you first take the property out of the SMSF via a lump sum payment having reached preservation age. The Process Buying and holding property can be a great investment in your SMSF, it can be sweetened further if you bought a property in an area you would eventually like to retire to mortgage free!  But how does it work without breaching any of the Superannuation laws? Firstly, and unsurprisingly, you will need to meet a condition of re ..read more

How do Self Managed Super Funds Work? Self Managed Super Funds (SMSFs) have grown in popularity as a means for people to take charge of their superannuation assets in recent years. Individuals can manage their own superannuation assets through Self Managed Super Funds and choose investments that fit their own objectives and risk tolerance. In this blog, we’ll examine SMSFs more closely looking at their advantages and disadvantages. How do Self Managed Super Funds Work? What Are They? Self Managed Super Funds are a kind of superannuation fund that are run by the members themselves as opposed to ..read more

Do You Need An Accountant for SMSF? No, you do not need an accountant for SMSF. It is possible for SMSF trustees to manage most aspects of their SMSF, except for the annual audit, which must be performed by an independent party on an annual basis. While adopting a complete ‘DIY’ approach to your self-managed super fund may seem appealing due to money saved on accounting expenses, maintaining the documentation required by the ATO to meet compliance expectations will take an extraordinary amount of time and effort. On average, Australians spend more than 100 hours a year managing their SMSFs sho ..read more

What Does an SMSF Accountant Do? An SMSF accountant does the administrative and accounting needs of your self-managed super fund to ensure it maintains compliance with the ATO’s regulations. SMSF Australia has assembled a niche team of accredited superannuation specialists who are ready to help you with all your SMSF accounting needs from basic to very complex funds. Our SMSF accountants are experts in all things super and they’re dedicated to providing a suite of stress-free and affordable SMSF services, including SMSF set up, tax returns and preparation for the annual external audit. Your de ..read more

How Much Does it Cost to set up an SMSF? The cost to set up an SMSF is $2,000 plus GST. With SMSF Australia, this all-inclusive price covers everything from legal fees, ASIC costs for the Corporate Trustee, ATO registrations, accounting costs including the rolling over of any existing funds into the new bank account – everything you need to set up an SMSF for one single cost! We include government registrations and software licences in our all-in-one price, so you don’t need to factor in the cost of additional services after you commence the setup process with us. As we have a specialist SMSF ..read more

Can Accountants Setup SMSF?​ Can Accountants Setup SMSF? Yes, accountants can setup SMSF provided they do not provide financial advice which is reserved for financial planners and those holding a full or limited financial services license. The regulator for Australian financial services licensees is the Australian Securities and Investment Commission (ASIC) which has carved out an exemption allowing accountants to setup self managed super funds. See below table extracted from the ASIC website, the full website page is available here which gives a complete list of what does and doesn’t require ..read more

Some advantages of buying real estate through a self-managed superannuation fund are tax benefits, greater income and capital growth potential, and the ability to accelerate your retirement savings. No wonder why many Australians consider property investment as a sound investment for their retirement. However, as promising as it is, you must consider all the legal obligations and risks around this investment. One common question we get from clients planning to hold real estate in their SMSF is, “Can I live in a property owned by my SMSF?” It may sound right to be able to reside in a property ..read more

If you’ve decided that an SMSF is right for you and now are wondering where you should start, you can use this guide to understand the set-up process for your SMSF. You can also consider engaging with our SMSF accountants in Melbourne to assist you. Important Things to Know about SMSFs Before getting onto our guide for an SMSF Setup in Melbourne, let us share with you a few considerations you should think about and the risks and responsibilities that come with an SMSF. How is an SMSF different from a traditional super fund? There are numerous differences between a self-managed super fund and o ..read more