Building Your ‘Family Future Fund’
How much does it cost to raise a child? Obviously the answer is highly dependent on individual circumstances. However, as…
Self-managed superannuation is a significant financial decision and a smart long-term wealth-building strategy. Our experienced financial advisors provide an end-to-end self-funded superannuation solution that helps clients take control of their retirement.
The right setup ensures the superannuation self-managed funds you want to transfer to dependents go to the right people in a tax-effective way at the right time. A complying SMSF technically has an unlimited life span, so both asset management and benefits payments to named beneficiaries can continue after the death of the concerned original SMSF trustee or member.
✓ Independent & impartial boutique financial planning firm
✓ Transparent & high-level reporting
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✓ Ongoing dedicated lending advice and support
✓ Strategic debt restructuring strategies
This is a private super fund regulated by the ATO, giving individuals control over their retirement savings. SMSFs offer a wide range of investment options, tax planning strategies, and potential cost advantages for larger balances. However, they come with strict regulations, legal responsibilities, and ongoing expenses. They are best suited for those with substantial super balances, financial knowledge, and the ability to manage their own investments. Professional advice is recommended before commencing down this path.
Very broadly speaking, we would help you to:
Appoint your trustees
Create a trust and deed
Register the trust
Obtain an ABN
Open a bank account
As your long-term wealth builders, we oversee the account's health and report annually on its performance. We can provide step-by-step assistance throughout this setup process.
Costs include trust deed preparation and ATO registration fees, and ongoing expenses like administration fees, audit fees, investment management fees, ATO supervisory levy, insurance premiums, compliance costs, and bank fees. These costs can impact the fund's performance, and generally, larger account balances make SMSFs more cost-effective. Costs may vary depending on the fund's complexity and professional assistance needed, so seeking professional advice is recommended to understand specific costs for your situation.
This process can involve complex legal and financial responsibilities, and professional guidance can ensure compliance with regulations and optimise the benefits of the fund. Professionals such as SMSF specialists, accountants, financial advisors, and tax experts can assist with setting up the fund, developing an investment strategy, meeting legal obligations, and fulfilling reporting and compliance requirements. Their expertise helps make informed decisions and avoid costly mistakes.
When you retire, your fund transitions into the pension phase, where the fund can start providing income. We can ensure you're well-prepared for this transition, optimising your retirement income.
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