Does your SMSF have a Corporate Trustee? Each year you will receive an annual statement from ASIC which will contain: A statement of your company’s current details An invoice for your company’s annual review fee To keep your company registered, you must complete the following: Pay the annual company review fee Check and update your company details Pass a solvency resolution If you fail to pay your annual review company fee on time, then ASIC late payment fees will apply.   However, there is a solution to help you avoid these late payment fees and the frustration of making these annual ..read more

What is a Director Identification Number (director ID) and do I need one? You may have heard about the new rules which require directors of Australian companies to obtain a Director Identification Number (director ID). The new requirement to obtain a director ID also applies to individuals who have an SMSF with a corporate trustee, which is why I wanted to bring this new requirement to your attention. All directors of your corporate trustee will need to apply for their own director ID by the prescribed deadline. This article provides some important information about Director Identification Num ..read more

Partnering with an SMSF accountant with extensive industry knowledge and experience can have enormous benefits for your financial future. Whether you’re at the early stages of preparing for retirement – or it’s just around the corner, Cyber SMSF can provide support and expert advice at any step in your self-managed super fund journey. Being entirely in control of your financial future is certainly rewarding. However, with that autonomy comes responsibility in staying abreast of self-managed super fund regulations and changes. With 30 years’ combined industry experience, our friendly team are s ..read more

Have you considered establishing an SMSF business partnership with a self-managed super fund specialist? A strategic partnership will not only complement your services as a trusted advisor, your clients will appreciate receiving the latest expert information regarding their funds. At Cyber SMSF, our trusted support enables you to maximise your time with clients, enabling them to reach their financial goals. Consolidating Financial Statements Efficiently At Cyber SMSF, we understand that a client’s Statement of Advice can include a wide and varied range of financial portfolios. Whether your cli ..read more

Helping our clients achieve genuine benefits from their self-managed super funds can reap healthy rewards. However, SMSF compliance, including the process of collecting and preparing raw data into financial statements, is a necessary evil which often becomes an administrative burden, requiring substantial resources and staffing. Research Shows What SMSF Clients Want When it comes to their funds, clients are looking for strong engagement from their trusted advisor. They want to hear from their accountants more often. As part of the resources and information they provide on growing your practice ..read more

While Australian firms continue to rely on outsourcing services to offshore centres, a growing number of clients prefer to deal with Australian SMSF specialists. Cyber SMSF offers accountants a locally-based solution for our clients. The data processing and storage services we provide remain in Australia and are handled only by Australians. While outsourcing offshore may seem as a convenient, cost-effective solution, it doesn’t address client’s needs for human intervention, local expertise or Australian-based security for their financial records and data. Clients Concerned About Offshoring&nbs ..read more

Trustees considering investing in Cryptocurrency with their Self-Managed Superannuation Fund (SMSF) need to consider the following to ensure that there are no unexpected surprises. All investments made by a SMSF need to be allowed under the fund’s Trust Deed and must also comply with the fund’s Investment Strategy. In addition to these the investment must be held in the name of the SMSF and be valued in accordance with the ATO guidelines. The ATO have been clear in their direction to SMSF Trustees that the assets of an SMSF need to be clearly distinguished from any personal or business assets ..read more

You may be aware that the Australian Tax Office (ATO) has issued letters to nearly 18,000 SMSF trustees as part of a campaign to ensure trustees are aware of their investment obligations. Of key concern is ensuring that trustees have considered diversification and liquidity of their assets when formulating and executing their fund’s investment strategy. Importantly, it must be noted that the ATO letters are not an attempt to regulate and limit the control and freedom that SMSF trustees have but rather ensuring that if trustees wish to invest their assets in a certain way that they must clearl ..read more