about highland tax and accounting

Self Managed Superannuation Funds

Many people are starting to see the benefits of taking control of their own retirement strategy and looking to make the best out of their long term investments in a self managed superannuation fund. Highland Tax & Accounting specialise in self managed superannuation funds in the Southern Highlands.

What is a Self-Managed Super Fund?

A self managed superannuation fund (SMSF) is a sum of money which is entirely being managed by you. It enables you to take control over the investment strategy and provides you with a greater level of flexibility in how you invest assets, plan your estate and choose a retirement income option.

An SMSF must have its own bank account and a trust deed which is the rules of the fund - who can be a member, what the fund can invest in and who can receive a death benefit. Every SMSF requires an annual audit and they also are required to lodge a tax return with the Australian Taxation Office (ATO).

The decision to establish a self managed superannuation fund is important but before you decide to take this option you will need to understand the costs involved and your legal obligations. Whilst a self-managed superannuation fund can offer many benefits they are also subject to considerable compliance and regulation.

Setting up

Highland Tax & Accounting’s team is always ready to support you and lift the burden of setting up and running a self-managed super fund. Our team have industry specific skills and knowledge which enables us to provide advice and services about self managed super funds. The initial services we provide include:
  • Helping you to set up financial systems to prepare your fund’s accounts and statements;
  • Assisting you with administrative tasks that will support you in the day-to-day management of your fund.
  • With our expert financial guidance, we help you with your investment preparation strategy that is tailored to your individual needs and life goals.

Compliance Management

At Highland Tax & Accounting we can help you to understand your funds reporting obligations to the ATO. Our experienced accountants will ensure your obligations to the ATO are met to ensure your SMSF remains compliant. When SMSF's are fully compliant with taxation and superannuation laws they offer the most beneficial reward and are an effective method of building wealth. If your fund is not compliant your taxation benefits are reduced.
Our compliance service includes personalised attention to your self managed superannuation fund where we will review and audit your SMSF and prepare the funds financial documents and tax return.
Our highly-qualified and experienced self-managed super fund accountants are always ready to provide a personalised level of service, in order to optimise your retirement planning and wealth accumulation.