A self-managed superannuation fund is a private super fund that members manage on their own. This means they’re responsible for choosing the investments, the insurance, running every aspect, and complying with relevant super and tax laws. This can be much more involved and complicated than industry or retails funds which are professionally managed. At Lotus Smart, our team of SMSF accountants in Melbourne can provide detailed tax advice and manage the compliance requirement of SMSF
There are serious consequences if your self-managed super fund becomes non-compliant. The ATO can issue a non-compliance notice and any contribution may be taxed at the highest marginal tax rate (45%), instead of at the concessional super rate of 15%. Considering the seriousness of the issue, the ATO has the option to disqualify individuals from acting as trustee of SMSF and freeze the fund’s assets.
Our superannuation accountant and SMSF tax agents are all too familiar with the constant changes of super legislations. Fortunately, we’re highly experienced in this area and can provide self-managed super funds accounting services to help you identify and take advantage of opportunities.
With changes to superannuation legislation, your SMSF can now invest in real estate. There are many super fund loan products readily available in the market today, each with varying points of differentiation relating to cost, credit, policy and structural requirements. A specialist at our associate company, Lotussmart Finance, offers SMSF loan services, making us your one-stop shop as far as the accounting, taxation and finance requirements of your SMSF are concerned.
If you need advice and assistance regarding your SMSF in Melbourne, Lotus Smart can provide the SMSF accounting services you need. In addition, we can connect you with the best SMSF auditors in Melbourne to make sure you’re complying with the rules and regulations.
If you’re asking yourself “where can I find accountants and specialists near me who can help manage my personal SMSF?”, Lotus Smart can help. We operate across metropolitan Melbourne and beyond, including:
Our SMSF accountant offers an obligation-free consultation to discuss your requirements. Call or enquire online to learn more about our SMSF accounting services, request a free cost quote or make a booking.