Who can benefit from this service?
- Time poor individuals who don’t have the time to attend to all of the administration associated with their investments
- Individuals who don’t have the capacity or desire to manage their investment portfolio
- Those that want the flexibility and control afforded by a self-managed super fund, but don’t want the associated administration burden
- People who have managed on their own for years and want someone to take over
- People who are travelling for extended periods and need someone to manage their paperwork or pay bills
We relieve you of the responsibility and time commitment of paperwork associated with managing your SMSF, including all aspects of fund establishment as well as:
- Trust deed preparation
- Trustee statutory declaration
- Member applications and approval of applications;
- Minutes of the initial meeting
- Bank account set-up
- ABN registration
- TFN registration
Providing quarterly reports on fund activities and status as well as comprehensive underlying investment portfolio information for investors that need to know all aspects of their fund analysis (including up to date bank transactions and investment reports).
Other areas where we can help alleviate the responsibility and time commitments associated with managing your SMSF include:
- Online access to funds always underlying investment valuations
- Initial and ongoing review of your fund’s investment strategy (including the S52 investment strategy required by the ATO)
- Establishment of retirement income stream pensions and ongoing maintenance of these pensions
- Establishment of transition to retirement income stream pensions and ongoing maintenance of these pensions
- Regular review of the fund’s (standard) trust deed to ensure its ongoing effectiveness and compliance with superannuation legislation
- Managing all fund accounts receivable and payable (payments and deposits)
- Arranging any life insurance policies for the superannuation fund and ensuring that the premiums are paid on a timely manner basis
- Accept contributions in accordance with the trust deed and superannuation and tax laws
- Managing the purchase and sale of fund assets in accordance with the approved investment strategy
- Dealing with external ATO audits of the fund
- Managing the fund’s bank accounts
- Preparation of all legal documentation and mandatory communication material issued to members
- Ensuring member documentation is up to date and complies with the requirements of the superannuation law
- Monitoring the fund’s operations for ongoing compliance with any new legislation
- Preparing annual fund accounts, tax returns and member statements
- Determining whether (and when) a member can receive their benefits
- Make all calculations with respect to maximum lump sum entitlements and pension entitlements
- Preparation of all necessary paperwork associated with paying benefits such as:
- Payment of tax instalment declaration
- PAYG payment summaries
- Pension payment advice
- TFN declaration
- Annual reporting
- Lodgement of your fund’s income tax and regulatory return by the due date
- Preparation and lodgement of your fund’s business activity statements and instalment activity statements
- Arranging for an actuarial certificate to be prepared by an independent actuary
- Arranging the fund audit
- Preparation of all minutes and resolutions of the trustees’ and members’ meetings
- Keeping track of legislative changes that impact the administration
- Ensuring that investments conform with the Australian Taxation guidelines and will execute investment transactions in accordance with the instructions of the trustees and members
- Quarterly updates informing you of any legislative or other changes impacting the fund
- Answering telephone support for member and client enquiries
- Ensure a binding death benefit agreement is in place
Free yourself from the responsibility and time commitment needed to manage your investments, so you can focus on enjoying life.
Contact your local Nexia Adviser today to have a complimentary discussion about choosing a supported service that fits your lifestyle and helps you connect with your true potential and achieve your financial goals.
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