Understanding SMSF Pricing: A Comprehensive Guide by an Accountant and Financial Planner
Setting up a Self-Managed Superannuation Fund (SMSF) can be a viable option for individuals seeking greater control and flexibility over...
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Setup your Gold Coast SMSF
We understand that setting up a self-managed superannuation fund (SMSF) can be a daunting process. That's why our experienced team is here to guide you through every step of the SMSF setup process. We offer expert advice on all aspects of SMSF setup, including complying with regulations, establishing the trust deed, and applying for your Australian Business Number (ABN) and Tax File Number (TFN).
Our SMSF setup services are tailored to meet your unique needs, whether you're an individual or part of a small business. We'll work closely with you to understand your financial goals and develop a comprehensive SMSF setup plan that meets your specific needs.
Our SMSF setup services include:
- Establishing your SMSF trust deed
- Assisting with your SMSF registration with the ATO
- Applying for your SMSF's ABN and TFN
- Setting up your SMSF bank account and investment portfolio
- Providing ongoing support and advice to ensure your SMSF remains compliant with regulatory requirements
With our expertise and guidance, setting up your SMSF has never been easier. Contact us today to learn more about our SMSF setup services and how we can help you achieve your financial goals.
SMSF Setup Costs and Pricing
At New Wave SMSF, we understand that the setup costs of a self managed superannuation fund (SMSF) can be a concern for many individuals. Our team is committed to providing affordable and transparent pricing for SMSF setup to ensure you can take control of your retirement savings without breaking the bank.
Our SMSF setup packages start at $1,850+GST, which includes the establishment of a corporate trustee, preparation of trust and trustee documentation, and registration of the SMSF with the Australian Taxation Office (ATO).
We also offer additional services such as SMSF investment strategy development and ongoing compliance support, which can be added to your package at an additional cost. Our experienced team is dedicated to ensuring your SMSF is set up correctly and efficiently, giving you peace of mind for your retirement future.
Contact us today to learn more about our SMSF setup pricing and packages.
Who Can Start An SMSF?
Are you thinking of starting a self-managed superannuation fund (SMSF)? One of the key questions you may be asking yourself is who is eligible to start an SMSF.
In Australia, anyone over the age of 18 who is not bankrupt and has a balance of at least a few hundred thousand dollars in their super can start an SMSF. This can be an individual or a group of up to four people.
However, it's important to note that starting an SMSF requires a significant amount of time, effort, and knowledge of the superannuation laws and regulations. That's where we come in - we can guide you through the SMSF setup process, ensuring that you meet all the requirements and helping you to make informed decisions along the way.
If you're ready to take control of your super and start an SMSF, get in touch with us today. Our team of experienced professionals can provide you with the support you need to make the most of your SMSF.
Recent News
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What services do you offer?New Wave SMSF financial planners offer a wide range of services to help clients manage their self-managed superannuation funds (SMSFs). Some of the services we offer include: SMSF set-up: An SMSF financial planner can assist clients with the establishment of a new SMSF, including the preparation of trust deeds, appointing trustees, and registering the fund with the Australian Taxation Office (ATO). Investment strategy development: SMSF financial planners can work with clients to develop an investment strategy that is aligned with their financial goals and risk appetite. This includes selecting investment assets, determining asset allocation, and monitoring investment performance. Compliance and administration: SMSF financial planners can help ensure that clients' SMSFs remain compliant with regulatory requirements, including the preparation and lodgement of annual tax returns, financial statements, and other reporting obligations. Retirement planning: SMSF financial planners can help clients plan for their retirement income needs, including determining their retirement goals, estimating retirement expenses, and developing a strategy for drawing down on their SMSF assets. Estate planning: SMSF financial planners can assist clients with estate planning, including the creation of binding death benefit nominations, the establishment of testamentary trusts, and the development of succession plans. Risk management: SMSF financial planners can help clients manage risk within their SMSFs, including insurance needs analysis, the selection of appropriate insurance products, and the development of risk management strategies.It’s a great way to help people navigate your site and can even boost your site’s SEO.
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Is an SMSF the right choice for me?Whether an SMSF is suitable for you depends on various factors such as your financial goals, investment experience, and the time and resources you have available to manage the fund. Our financial planners can help you assess whether an SMSF is the right choice for your individual circumstances. Book in a free 30 Min consult today.
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What are the investment options available to me in an SMSF?SMSFs offer a broad range of investment options, including direct property investments, shares, managed funds, and term deposits. However, trustees need to ensure that their investments are in line with their investment strategy and comply with regulatory requirements. Our Gold Coast SMSF Financial Planners can assist with guiding you towards the right investment strategy
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How much super is recommended to start an SMSF?The amount of money required to start an SMSF will vary depending on your individual circumstances, goals, and investment strategy. While there is no minimum amount required by law to establish an SMSF, most financial experts suggest that you should have at least $200,000 to $500,000 in superannuation savings to make an SMSF cost-effective. Before deciding to start an SMSF, it's recommended to seek professional financial advice to ensure it's the right choice for your individual circumstance
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What accounting services do you offer?New Wave SMSF is a forward thinking accounting firm providing tailored self managed superannuation fund (SMSF) services on the Gold Coast and across Australia. We assist clients with: Accounting, Structuring, SMSF Software, SMSF Setup, Tax, BAS, Compliance, SMSF Bookkeeping and Tax Advice. At New Wave, our mission is to empower, excite and build confidence in SMSF's by providing clarity in their figures.
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What are the costs involved in setting up an SMSF?The costs of setting up an SMSF can vary depending on the complexity of the fund, the number of members, and the services required. Typically, the setup fees can range from $1,000 to $3,000, while ongoing costs can range from $2,000 to $3,000 per year. We can provide you with a fixed fee quote based on the size and complexity of your work.
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What are the rules and regulations around SMSFs?SMSFs are regulated by the Australian Taxation Office (ATO) and must comply with the Superannuation Industry (Supervision) Act 1993 (SIS Act) and the Superannuation Industry (Supervision) Regulations 1994 (SIS Regulations). The rules cover various aspects of SMSF management, including trustee duties, investment restrictions, contribution limits, and reporting requirements.
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How do I ensure compliance with ATO regulations?To ensure compliance with ATO regulations, SMSF trustees need to maintain accurate and up-to-date records, prepare and lodge annual returns, and follow investment restrictions. Engaging an experienced SMSF accountant can help ensure compliance with ATO regulations and provide peace of mind.
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What are the tax implications of having an SMSF?SMSFs enjoy concessional tax treatment, with income earned within the fund taxed at a maximum rate of 15% (or 0% if in pension phase). Additionally, SMSFs may be eligible for capital gains tax (CGT) discounts if assets are held for longer than 12 months. However, there are various tax rules and regulations that SMSF trustees need to be aware of to avoid penalties and fines.
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