operating a smsf
TRANSCRIPT
www.lasseter.com.au
[email protected].: 1300 083 691
Lasseter has prepared this presentation for general information purposes only and does not constitute personal advice.
You should not act solely on the basis of material contained in this presentation. We recommend that formal advice is sought which considers all your individual objectives and needs.
No material contained within this report should be construed or relied upon as providing recommendations in relation to any financial product.
General Advice Disclaimer
www.lasseter.com.au
[email protected].: 1300 083 691
Starting to operate your fundThe initial transactions in operating your SMSF is to rollover your existing superannuation to your SMSF. Most funds will require you to complete:
•A rollover form. Many funds do not have these forms available on their websites and you may have to call them to access this form.
•Proof of identification. Many funds require proof of indication at the time of exit rather than when you enter the fund. This proof will need to be certified.
•Complying fund evidence. Funds can only rollover your superannuation to a complying fund and may require proof in the form of the ATO letter confirming you are a complying fund.
Lasseter advisers can undertake all this work on your behalf as part of our SMSF InFocus Package of Services.
www.lasseter.com.au
[email protected].: 1300 083 691
Starting to operate your fundIf you are employed you will need to re-direct your Superannuation Guaranteed Contribution (SGC) payments to your new SMSF.
•You will need to contact your employer’s payroll master and ask for a Superannuation Choice of Fund Form. On that form you need to complete Section A of the form
•You will need to provide your employer the following:
o Complying fund evidence. Funds can only rollover your superannuation to a complying fund and may require proof in the form of the ATO letter confirming you are a complying fund.
o Letter from your SMSF advising your employer they will accept your contributions
o The bank account details of your SMSF
www.lasseter.com.au
[email protected].: 1300 083 691
Starting to operate your fundYour SMSF is very much like running a business, in that you need to appoint a number of professionals to provide various services:
•Taxation and Compliance services which include:
oMaintenance of fund’s financial transactions
o Lodgement of taxation and compliance returns on behalf of the fund
o Fund and member reporting
•Auditor who is independent to all other parties involved in the fund to audit the financial and compliance operations of the fund.
•Financial Advisory services which include:
o Assisting with developing and maintaining investment strategy including monitoring actual investments meet the strategy set.
o Insurances including Life, TPD and Income Protection especially ensuring cover does not breach Sole Purpose Test.
www.lasseter.com.au
[email protected].: 1300 083 691
• Establishment Costs – FREE (Lasseter will establish your SMSF at no cost)
• Corporate Trustee - $444 (One Off – ASIC Fee) see our SMSF Starter Package
• Annual Accounting and Tax – starting from $1320, see our Compliance and Administration Package
• Annual Audit – starting from $330
• Annual ATO Levy - $150
• Annual ASIC Fees - $212 (only for corporate trustee)
• Other Professional Fees – ie Financial Advisor
• Investment Fees – depending on investments chosen
What are the Costs?
www.lasseter.com.au
[email protected].: 1300 083 691
If you have any queries please call us on 1300 083 691
or
We can contact you request via our website press here
View our SMSF Starter Package
View our Compliance and Administration Package
What Next?
www.lasseter.com.au
[email protected].: 1300 083 691
Lasseter InFocus
Offices: T: 1300 083 691MelbourneAltona E: [email protected] W: www.Lasseter.com.au