Self-Managed Superannuation Funds (SMSF)

Your retirement is one of the more important items that you will spend your time working towards. It will also, more often than not, become one of your largest personal assets. At BW Advisers we work closely with both you and your financial advisor to assess, implement and maintain your SMSF. Some of the services we offer or assist with include:

  • Working with your trusted advisor to establish a new SMSF, including creation of the required deeds and registration forms.
  • Assistance with set up of Limited Recourse Borrowing Agreements (LRBA) to facilitate debt financing within your fund.
  • Review of your funds investment make-up and partaking in discussions with your financial advisor to ensure the funds investment strategy accurately reflects the investment make up
  • Guidance on the general legal and compliance requirements surrounding fund setup.
  • Coordination with approved SMSF Auditors to conduct mandatory compliance audits, ensuring compliance with the Sole Purpose Test, fund investment strategy and contribution/withdrawal rules
  • Assistance with commencement of pensions (income streams) from the SMSF.

Ongoing accounting and taxation services

  • Tax calculations and compliance with ATO regulations
  • Real-time access to financial data and reporting tools to assist your financial advisor in analysing fund performance and make accurate investment decisions based on your funds strategy and net position
  • Preparation of financial statements and member reports
  • Lodgement of the SMSF Annual Return and Transfer Balance Account Reports (TBAR)

Record Keeping & Administration

  • Keeping and maintaining accurate records for transactions, assets, liabilities and member balances
  • Revision of the fund deed and documentation on a regular basis, flagging updates, and liaising with legal experts to implement the required changes
  • Support during ATO reviews, audits or disputes
  • Education and guidance for trustees to help them understand their responsibilities

Tax planning and guidance

  • Guidance on tax implications of benefit payments, retirement strategies and lump-sum withdrawals
  • Ongoing monitoring of tax implications of member ages, investment make-up and contribution strategies
  • Support regarding the monitoring of excess contributions, use of reserve accounts, transfer balance cap events and PAYG Withholding obligations