Brighton Accounting & Tax Specialists
SMSF ADVISORY SERVICES IN BRIGHTON
Having successfully operated in the self-managed superannuation space for nearly 40 years, and being one of the largest SMSF establishment, administration and personal financial advice providers in Australia, we are well equipped to help you maximise the benefits of self managed superannuation.
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Self-Managed Super Fund Advice
Expert guidance for those looking to establish an SMSF or improve an existing one.
Most everyday families are content with an industry or retail fund where the majority of the work is taken care of by a professional fund manager. But for those who want more control over their superannuation investments, a self-managed super fund may be the solution.
A self-managed super fund, which is also known as an SMSF, gives you greater control over exactly which investment choices your super fund is utilising when compared to retail or industry funds.
The trade-off:
The need to be vigilant and actively involved with your fund on every investment decision. There are also significant costs – such as compliance, accounting and planning – associated with setting up and running an SMSF. This means they are usually only suitable for those with large balances who can ensure the investment growth exceeds the related costs.
An SMSF is best suited for those:
- With over $200,000 in their current super fund
- Who want to use their super to invest in property
- In possession of a clear plan for how to best manage their SMSF
- With a firm grasp of investment knowledge
- Who have the help of a team of expert financial advisors to guide them
The Benefits of a Self-Managed Super Fund
While a self-managed super fund does require a lot of work to do well, there are a number of benefits.
If established and managed well, the benefits of an SMSF can include:
- Greater investment choice, such as property or even artwork
- Better performance when compared to retail and industry funds
- Having a super fund tailored to your unique financial circumstances
- A risk management strategy tailored to your aversion to risk
Above all else, an SMSF gives you complete control of exactly where you’re investing the money you worked hard to earn.
We’ve had experience helping clients use their SMSF to purchase everything from property to vintage cars.
But how do you know exactly which type of investment is the right choice to help you meet your short, medium and long-term goals?
That’s where the support of a team of dedicated financial advisors is invaluable.
We can help you tackle every step of the self-managed super fund process with personal financial advice only professional guidance can provide.
Whether you want to know more about which type of investment will put your super money to best use or are just looking for an experienced partner to guide you on your SMSF journey, we’re here for you.
The Brighton Tax Accountants logo is a symbol of excellence and demonstrates that the individual’s SMSF expertise has been independently endorsed by the Association. Find an independently endorsed SMSF Specialist in your area using our interactive ‘Find a Specialist’ function.
The listed professionals are a trusted source of information and advice for anyone managing their own super, as they have gone through rigorous and independent accreditation. The Brighton Tax Accountants Specialist Advisor and Specialist Auditor programs not only test SMSF legislation and regulatory knowledge, but also assess business and ethical practices to ensure ‘best practice standards’.
We believe in tight controls, accrediting and educating advisors and providing accurate and appropriate information to trustees as the best way to ensure that self-managed super funds continue to provide their promised benefits.
Brighton Tax Accountants Specialists maintain their high level skills and knowledge through ongoing education. Their work practices, integrity, professionalism and ethical standards are reviewed on a regular basis to ensure they remain at the highest standard.
Need SMSF advice? We can help
Taking control of your super through a self-managed super fund can be an exciting time.
But a SMSF also comes with a number of administrative and compliance-related obligations you’ll have to navigate.
Don’t worry, you won’t have to figure them out on your own.
By becoming a part of the My Wealth Solutions community, you gain access to a dedicated team of SMSF experts at your fingertips.
Your team of expert advisors can help by:
- Answering any and all questions you may have
- Clearly explaining the costs and obligations that come with having an SMSF
- Helping you decide whether an SMSF is the right option for you
- Working with you to set up and run your SMSF fund
- Reviewing your current super fund
- Making sure that you will have enough super for retirement
- Helping you choose the right investment strategies for your unique financial situation
We aim to make the process as stress-free as possible by working with a specialist administrator to make sure you’re getting the most out of your super fund while meeting all your obligations.
Choosing to set-up and manage an SMSF is a major commitment, which is why we recommend speaking to your team of dedicated financial advisors before making any decisions.
At Brighton Accountants, we take a holistic view that considers every aspect of your financial world. That means we’re uniquely positioned to advise you on whether an SMSF is right for you and your unique situation.
And do you want to know the best part?
All you have to do get started is sit down with us for an obligation-free initial consultation, where the cost is on us.
Speak to us today to see if an SMSF is right for you. Even if it’s not, your team of advisors will be able to guide you in the right direction.
Accounting
Our services include all aspects of tax accounting and planning, pre-30 June reviews, tax cost minimisation strategies, capital gains tax record keeping, BAS and IAS requirements, and cloud bookkeeping services. We will make sure you comply with all statutory requirements at both state and federal levels – it is our job, not yours, to keep up with all the legislation.
Bookkeeping
Let Brighton Tax Accountants, we take care of your XERO and MYOB bookkeeping needs while you focus on growing your business! We offer bookkeeping services for small businesses in all the major suburbs in Brighton. We will take care of your books while you focus on making more sales for your small business. Check out our accounting solutions and see which suits your needs.
Taxation
We ensure that you are structured in the most tax-effective manner so that you can be confident that you are paying the least amount of tax possible. Legally minimising the amount of tax payable is strongly dependent on having the appropriate structure in place so that you can apply the funds towards growing a sustainable business.
Take control of your super with a Self-Managed Super Fund
A Self-Managed Superannuation Fund (SMSF) is a super fund managed by you and allows you to take control over the investment strategy of your fund. It also provides greater flexibility in terms of investing the fund’s assets, retirement income options and estate planning.
However, it’s important to understand the responsibilities that come with being an SMSF trustee as they are subject to considerable compliance and regulation, meaning they aren’t suitable for everybody.
Things to consider
Some important considerations for a Self-Managed Super Fund trustee are:
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- Are you eligible to become a trustee?
- What are your reporting obligations as a trustee?
- Do you have enough time to manage an SMSF?
- Will someone help you set up and run your SMSF?
- How will you keep up to date with changes to laws and legislation?
- Are you aware of the sole purpose test?
Self-managed super funds (or SMSFs) are a great way of saving for retirement. Unlike other types of superannuation funds, SMSF is managed by its members who are also the trustees most of the time.
The members of an SMSF manage their funds for their own benefit and they also take responsibility for complying with tax laws.
Some of the benefits you can enjoy through an SMSF include greater flexibility and more direct control of your investments. SMSF’s also usually enjoy lower fees and better performance than retail and industry funds. SMSF members can choose where they want to invest their retirement savings.
They can choose bonds, shares, property, or exchange traded funds (ETFs) among others. With greater flexibility, members can actively manage their portfolios and adjust them as the markets change.
With SMSF, you can also pool your resources with your family members to provide access to more efficient and cost effective investment strategies. You can combine your assets with up to four SMSF members, who are usually family members.
Another great benefit of SMSF is that it allows estate planning options where you can transfer your wealth to the next generation with minimum tax liability and maximum asset protection.
If you are not sure whether SMSF is right for you, Brighton Tax Accountants offers SMSF advice. We can give you an overview of the things you need to consider when establishing an SMSF. Brighton Tax Accountants specializes in setting up SMSF and implementing investment strategies that will work for you. Enjoy life’s greatest possibilities when you work hand in hand with Brighton Tax Accountants!
A SMSF gives you greater control but more responsibility
At Brighton Tax Accountants we have highly-skilled SMSF Administrators to assist with advice and ongoing management of your SMSF. We also have Investment Specialists that can assist with the acquisition of SMSF assets, including direct property investment, international equities and other investment options not available through industry or retail super funds.
When you establish an SMSF, you become the trustee of that fund. This means that you must manage your fund according to the trust deed and the laws and rules surrounding the operation of SMSFs. As most people don’t have a thorough knowledge of what this actually involves, our assistance will give you the confidence that your fund responsibilities are being met.
Improve your investment choice with a SMSF
A self-managed superannuation fund (SMSF) can give you flexibility, investment choice, and control over the management of your superannuation benefits. SMSFs also offer additional tax saving opportunities over retail and industry funds.
At Brighton Tax Accountants, our team of chartered accountants, financial planners, auditors, solicitors, and mortgage brokers can work with you to establish and/or manage your SMSF.
A self-managed superannuation fund has many advantages but requires skill and knowledge to set up and maintain.
Self-Managed Super Fund Benefits
As leading specialists in the SMSF field, not only will we help you understand and satisfy the SMSF’s reporting obligations to the ATO, but we will ensure you’re meeting your responsibilities as a trustee of an SMSF.
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With so many rules and regulations surrounding super, it’s important to do things right and that’s where Brighton Tax Accountants comes in. We have a dedicated ‘super’ team that have a high level of technical expertise and are up to date with the latest legislative changes and superannuation strategies.
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Whether it’s a new fund or an existing one, everything we do focuses on making the setup and ongoing running of your Self-Managed Super Fund easier for you.
You’ll get added confidence from our holistic approach
Brighton Tax Accountants can connect you with a team of professionals, including accountants, financial planners, solicitors, auditors and lending managers, to ensure your fund is managed in complete compliance with current SMSF regulations.
Every sound investment strategy starts with the goals and objectives of the client. Superannuation is no different. Since self-managed superannuation funds are established with the sole purpose of providing retirement benefits to the fund members, it’s essential that retirement objectives are the focus of your long-term strategy.
Getting the right advice to establish your fund is vital to achieving your unique goals. Our team of experts can help you get started.
We’ll carefully tailor a plan that meets your needs
We’re a privately-owned financial services concierge based in Brighton. We take a structured approach to helping our clients manage their SMSF and the best way to do that is to ask some pertinent questions.
We often identify areas that haven’t been thought of previously but are important to your fund’s success. You’ll get valuable direction from our experts who will highlight things that may otherwise be overlooked by inexperienced SMSF service providers.
We’ll ask you about the type of investments you’d like to hold within your SMSF and guide you through the many decisions you will have to make as a SMSF Trustee.
Individual accounting services, wealth strategy, insurance, and financial management. Prepare and lodge your tax return with Brighton Tax Accountants, a registered tax agent in Brighton. Let us do the hard work, with professional advice and ensuring maximum refund and paying minimum tax.
Are you already operating or considering starting a business as a sole trader? Brighton Tax Accountants can help as we are a 'one-stop-shop' for accounting services and tax advice for sole traders and small businesses.
Professional Services
Providing accounting, tax and business advisory to professional services industries comes naturally to Brighton Tax Accountants. We have a large clientele of professional services clients who seek advice and knowledge specific to their industry.
As a member of a self-managed superannuation fund you can exercise:
- Greater control over your investments
- More effective taxation strategies for your whole portfolio
At Brighton Tax Accountants our team works with clients in Brighton and all over Melbourne to deliver SMSF services at competitive fixed prices.
Don’t let the complexity of SMSF compliance discourage you from managing your own superannuation.
Contact our team to discuss with us how we can help with your self-managed superannuation. Your first meeting with us is complimentary and obligation-free so you can properly consider the benefits of self-managed superannuation.
How we can help
We balance the benefits of managing your own investments with the requirements of SMSF, guiding you through compliance.
Your results are important to us, which is why our team works closely with other leading industry professionals and applies proven superannuation strategies to ensure you receive the best advice and outcomes.
It is important to seek out early professional accounting advice so you can enjoy managing your own SMSF with the confidence that you are maximising your opportunities from the outset without fear of non-compliance.
Preparation of income tax return
In addition to providing members with top level superannuation specific taxation advice, we will complete and electronically lodge the annual SMSF Tax Return on the Fund’s behalf.
Year-end audit
You will be compliant with self-managed superannuation law. Our independent in-house audit team will complete the annual SMSF audit.
General compliance with SIS Act and SIS Regulations
We can provide assistance with:
- SMSF pension documentation
- Actuarial certificates
- Investment Strategies
- Year-End trustee minutes
- Superannuation reserving strategies
Estate planning
Work with our team to implement effective tax-efficient estate planning measures.
Contact us today to request a free, no obligation meeting to discuss how we can assist you to improve your SMSF taxation and accounting affairs.
Business Advisory
Building and maintaining a successful business in today’s rapidly changing environment is a balancing act. Sustaining year on year growth, while keeping up to date with commercial and legislative compliance and managing the challenges of daily business operations, places huge demands on business owners and directors.
Our specialist advisors work with you in a role to help you plan and implement contemporary business practices that will allow you to keep a close eye on the detail while not losing sight of the big picture.
Our Self Managed Super administration service can help you achieve the benefits of an SMSF by taking care of the administration and compliance of your SMSF, creating free time for you to focus on the critical job of managing the investments of your fund.
With a self-managed super fund, you are in charge of your super and where it is invested, plus you manage those investments yourself.
Financial Advisory
At Hillyer, Richeswe provides comprehensive financial advice to our clients with an enthusiastic and proactive approach. Our strong team of experienced professionals will work with you towards identifying valuable solutions on how best to achieve your goals. Brighton Tax Accountants is a Brighton based Chartered Accounting firm offering timely and cost-effective services to both individuals and businesses. We consist of a team of accountants and business consultants dedicated to providing the highest quality accounting, taxation, bookkeeping, and business advisory services.
Since its inception, Brighton Tax Accountants has been at the forefront of tax and accounting, providing a broad range of services to local businesses in Brighton. We offer Individual Tax Returns, Business Taxation and Accounting, Financial Planning, Self Managed Superannuation Funds, and Bookkeeping services.
Brighton Tax Accountants understand Doctors and Healthcare professionals require specialist attention. Our team of experts offers friendly, industry-leading advice relating to tax, GST and compliance that will maximise your return, addressing all your financial requirements.
We have extensive experience in servicing the manufacturing industry, including the provision of accounting, information technology, and audit services, and regular periodic management reporting. Supplemented with more detailed financial analysis, this lies at the heart of astute commercial decision making.
Brighton Tax Accountants Tax Accountants in Brighton also specialise in helping small businesses to achieve great things. Whether you run a bar, restaurant or coffee cart, our accountants are here to offer an extensive range of accounting support services for your hospitality business.
If you’re looking for more control and flexibility to plan your financial future, why not consider a self-managed superannuation fund (SMSF)?
With an SMSF you’ll be your own investment manager and responsible for making all the investment and administration decisions.
Our specialists in superannuation, taxation law and corporations law can help you with:
- Structuring your superannuation so that it’s tailored to your life goals and values
- Establishing your self-managed super fund
- Managing your fund’s compliance with the Superannuation Industry (Supervision) Act 1993 (SIS Act)
- Structuring your income streams tax effectively
- Outlining your insurance options so your premiums are paid from the best possible source
- Identifying strategic opportunities for investment
- Topping up contributions in your existing super fund in a tax-efficient way
- Planning for your super to go to your intended beneficiaries
- Assisting with fund transition to pension
Want flexible super but have no time to manage it? We can help you administer and manage your SMSF including maintaining accounting and member records and preparing annual pension fund paperwork. We will also prepare annual financial statements and maintain portfolio records.
With a Brighton Tax Accountants superannuation advisor you can rest assured you’re meeting all your taxation obligations.
Building wealth is one of your prime goals in running your own business. And one of the most effective ways to create long-term value is through a well planned, tax-effective, self-managed superannuation fund.
At Brighton Tax Accountants Advisory in Brighton, our Self Managed Super administration services can help you achieve the benefits by taking care of the administration and compliance, creating free time for you to focus on the important job of managing the investments of your fund.
We work closely with your Financial Planner to ensure the appropriate strategies are in place when employing this structure.
From setting up your fund to handling all the administration tasks and annual tax requirements, we take care of the details, making sure you don’t pay unnecessary fines and taxes.
We have extensive experience in financial services for medium-sized trade businesses. The services we offer are all aimed at doing what really matters – ensuring your financial growth and freeing up your time so that you can enjoy life.Â
We understand what farmers require to effectively manage the finances of their farming operations. We have been a leading provider of business and financial advice, taxation, and accounting services to Primary Producers and the rural sector for more than 30 years. Enquire today to find out how we can help you with your farm.
Our experience and relationship with franchise groups give us real-time insight into franchise systems and their performance. We provide franchises with business, taxation and accounting services. We can also act as consultants to the head franchisors in setting up cloud accounting & business and structures.
At Brighton Tax Accountants, our specialist property tax accountants in Brighton are renowned for their property tax accounting services for property investors. Our property tax accounting and tax advice extend to the various estate planning factors including ownership and control of assets.
At Brighton Tax Accountants we specialise in Self Managed Superannuation advice in the Brighton area and beyond.
Commonly asked questions by our clients considering an SMSF include:
"Is a Self Managed Super Fund right for me?"
"What are the basic rules of a Self Managed Super Fund?"
"What are the common Self Managed Super Fund advantages?"
We take the time to walk our clients through the advantages/disadvantages of establishing an SMSF, to enable them with the information to make an informed decision. Â We empower our clients with all the facts, rather than leaving them feeling like they need to read a copy of "Self Managed Super Funds for Dummies".
Our Self Managed Superannuation Fund (SMSF) offering includes:
- Determining whether a SMSF structure is appropriate
- Setting up SMSFs inclusive of recommending an investment strategy
- Winding up an SMSF
- SMSF accounting and administration
- SMSF compliance
- Consulting on SMSF strategies including superannuation estate planning
- Superannuation trustee education
- Member insurance recommendations
- A yearly review and updates to legislation changes to ensure the strategies employed remain optimal
We endeavour to ensure that:
- Superannuation trustees are aware of their responsibilities so that the SMSFs remain compliant
- All possible superannuation strategies are utilised
Self Managed Super Strategies
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Self Managed Super Strategies
There are many superannuation strategies that are typically unique to SMSFs because most mainstream superannuation trustees don't allow such flexibility. Â These include:
- Investment choice including business real property, artwork, investment properties and non-controlling stakes in non-listed entities
- Borrowing for investments using either Contract for Differences (CFDs) or instalment warrants
- Intergenerational tax and superannuation estate planning
- Tax deductibility of insurance payouts
- Tailored superannuation estate planning
- Utilising reserves - SMSF reserves include:
- Self-Insurance
- Pension
- Contribution
- General
Superannuation Estate Planning
It is important to note that superannuation moneys do not form part of a person’s estate, which is why superannuation estate planning is paramount.  Our SMSF estate planning advice is tax orientated and can be individually tailored for specific outcomes.
Financial Planning Services
As a wealth management firm, we offer investment advice. Â We are however happy for clients to engage us for SMSF advice and SMSF administration only.
Are you READY for retirement?
Taking control of your superannuation as early as you can will be an important part of your ultimate strategy to achieve tax effective wealth creation and will be an essential component of your ultimate retirement solution.
The SMSF specialist advisors at Brighton Tax Accountants are able to design strategies that will minimise taxation throughout your working life that will establish the foundation for your eventual retirement.
Why should you understand superannuation?
Superannuation is arguably the most readily available and tax effective structure available to Australians today. The Federal Government actively encourages all Australians to save for their retirement and one of the ways it does, is to provide tax concessions to money invested into your superannuation fund.
Personal superannuation offers tax effective investing into a range of selected investment funds with the aim of generating long term growth specifically designed to fully or partly fund your future retirement.
How you structure your investments whether under a self-managed super fund (SMSF), an industry fund or a retail fund can be crucial to matching your expectations to the final outcome.
Superannuation can seem confusing at times?
Legislation is always evolving and you need to know you can rely on someone who is in touch with all the rules and regulations.
We specialise in helping our clients with the following superannuation and retirement strategies :
- Tax effective salary sacrifice strategies;
- Super contribution strategies including:
- pre and post contributions
- small business contributions
- government co- contributions
- spouse contributions
- Consolidation;
- Transition to Retirement.
A Self-Managed Super Fund (SMSF) is a superannuation fund, where control is kept in the hands of its members. The members decide how the fund will operate and what investments the fund will invest in.
The benefits of operating a SMSF are that you have more control over how your funds are invested, more choice of investments, more taxation benefits, and protection of assets in the event of bankruptcy or other legal claims. For larger balances, savings in administration costs can be achieved.
This will depend on a number of factors, however, typical time frames range from one to four weeks.
There are three ways of transferring money or assets into a new fund. You can contribute to the fund non-concessionally from savings, have your employer make a concessional (or SG) contribution, or roll over existing superannuation benefits into the fund (most common).
The trustee can have either an individual or a corporate trustee (company) structure. A single individual must have a corporate trustee as the fund cannot have a single individual as trustee (and member). You must be over 18 years of age, free from bankruptcy, and not convicted of dishonesty charges.
A SMSF cannot have more than 4 members and all members must be Trustees of the fund. There is currently legislation moving through Parliament to increase this to 6 members.
Yes. With the introduction of superannuation choice of fund in 2005, you can instruct your employer to pay your superannuation contributions directly into your SMSF. Employers have a legal obligation to pay your super into your nominated fund (this includes SMSFs).
Yes, with a SMSF you can organise term life, total and permanent disablement and income protection cover to insure the members of the fund. The SMSF can pay the cost of the insurance and claim it as a tax deduction to the fund. Brighton Tax Accountants can assist you in selecting the best insurance options for your SMSF.
This will depend on the complexity of the fund and it’s investments. SMSF administration fees can be paid by the fund.
