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Find the Right Strategy for Your Brisbane SMSF
01
Save For Your Retirement Through an SMSF

Superannuation was introduced by the Australian Federal Government in the early 1980s with the sole purpose to provide retirement benefits for working individuals.  Initially, employers paid contributions on behalf of the employees to their nominated sponsored super fund. Over time the compulsory employer superannuation guarantee (SG) has increased to 9.5% of wages or salary and will continue to rise to 10% in 2021-2022.  Personal contribution cap limits are currently$25,000 per annum for all ages. In simplest terms, it is a compulsory long-term saving strategy for retirement, and cannot be accessed until the individual reaches their preservation age, based on their birthday.  Super is a very powerful investment vehicle and has low tax thresholds.

02
Choose the Right SMSF Structure for You

There are numerous forms of super, commonly employer/personal/industry funds or self-managed super funds.  Generally, funds are
invested across a range of options like shares, managed funds, property, and cash.

Of the many different types of superannuation funds available, most people have a super fund where their employer makes
contributions.  Each has its own benefits but generally, these types of funds offer the individual limited investment choice and are
largely run by banks, financial institutions, or other organisations.

03
SMSF Tax Compliance in Brisbane

SMSF is an important source of retirement income for Australians, so it is heavily regulated by the Australian Tax Office (ATO). On top
of taxation, you also need to check that your fund is in accordance with superannuation laws and implement systems to make sure
that you are in compliance. 

There are significant tax benefits for SMSFs, but trustees need to follow the tax and super laws to receive the concessions.

04
Talk to an Expert in SMSF Administration in Brisbane Today

An SMSF adviser from Vault can assist you with the administration and compliance of your investments. We are experts in helping to: 

  • transfer and deposit of member funds
  • advise and lodge superannuation fund investments
  • manage and filter investment correspondence
  • manage super contributions
  • liaise with ASIC and the ATO as required
  • prepare annual reports, tax returns and independent audits

For inquiries, contact us here or call us on (07) 3608 6800.

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FAQs on Brisbane SMSF

  • What is a self-managed super fund (SMSF)?

    Self-managed superannuation funds allow people to control their own super investments for their retirement. If you set one up, you’ll be responsible for running it in accordance with the law and reporting to the ATO on its operation. 

    Like other superannuation funds, SMSFs are a way of saving for your retirement. 

    The difference between an SMSF and other types of funds is, generally, that members of an SMSF are the trustees who run the fund for their own benefit. 

    There are significant tax benefits for SMSFs, but trustees need to follow the tax and super laws to receive these concessions. 

    The assets and money in these funds are solely for retirement benefits and are not to benefit the trustee/s or anyone else outside the fund.

  • What are the benefits of SMSF?

    Here are the top benefits of SMSF: 

    • Taxation concessions – the income of your SMSF is generally taxed at a concessional rate of 15%
    • Flexibility and control of investment choice
    • Your employer is able to make contributions on your behalf
    • You can consolidate other super amounts into the fund you control
    • You can run allocated pensions at retirement
  • What are my obligations as an SMSF trustee?

    If you set up an SMSF, you become a trustee of the fund and are responsible for managing your SMSF according to its trust deed and the laws and rules that apply to SMSFs.

    The key principle is that you run your SMSF for the sole purpose of providing retirement benefits to fund members. You need to manage your fund’s investments in the best interests of fund members and in accordance with the law. Your investments must be separate from the personal and business affairs of fund members, including yourself.

    Administrative requirements include:

    • appointing trustee/s and establishing the trust deed
    • setting an investment strategy
    • holding investments
    • reporting and administration
  • When do I need to get professional SMSF advice?

    You need to get professional SMSF advice if you want to develop the right investment strategy based on your unique circumstances. 

    Your SMSF advisor can also help you explore the complex world of superannuation so you can make certain that your fund is positioned towards growth. 

    When it comes to audit and compliance, all SMSF trustees must appoint a qualified auditor to prepare the annual financial and compliance audit of an SMSF. 

    The audit should be completed before the SMSF can lodge its annual return.