Having a SMSF gives you control over your personal wealth creation. If you have a particular lifestyle in mind for your retirement, then a SMSF can help you get there.
Our SMSF accountants can help you plan and implement your investment strategy. We can help you make the most of your super.
Our team can even travel to your premises to consult with you face-to-face. It's all part of our commitment to our clients.
We have worked with Liston Newton's Accountancy and Advisory Team for over a decade. During that time, our business has grown substantially both organically and through purchases. This wouldn’t have been possible without Liston Newton Advisory to assist with our business planning, providing proactive advice and ensuring our accounts were always compliant in a complex and volatile industry.
Liston Newton's Accountants analysed our financial and business situation and helped us implement strategies to improve our position. Their strategies turned our business from making a loss, to recording a 6-month net profit of 36 per cent. And we are now on track to show a 240 per cent increase in turnover over the next financial year.
Liston Newton helped us move our accounting over to Xero. Their Accountant managed the set up and training so we felt comfortable with the software. We now have all our processes streamlined which gives us improved visibility of our business performance. This has allowed us to open 2 more stores without a significant increase in administration effort.
Our team has a great deal of experience helping clients get the most out of their super investments.
Our SMSF accountants can help you set up and maintain your super, giving you expert advice along the way.
A self-managed super fund is a trust structure that is run by the members of the SMSF. It is also known as a DIY fund. This is different to other super funds that are run by external trustees for thousands of members.
A SMSF has a maximum of four members and the investments in the SMSF can be tailored to suit the preferences of each individual member. There is no restriction on who can establish a SMSF.
People with high incomes, business owners, or people who have significant wealth are more likely to benefit from a SMSF.
There is no simple answer to when you should start a SMSF. You need to consider the costs associated with a SMSF and the potential benefits. The costs you need to consider are:
Whether or not having a SMSF is a viable option for you will depend on circumstances. Professional SMSF accountants can help you determine if this is the case.
As of 2007, superannuation laws changed, and a SMSF is allowed to borrow money to purchase an investment asset, however there a strict guidelines to follow when borrowing.
The type of investment assets that can be purchase are:
There are limitations that apply to purchasing assets from related parties in SMSFs, you should seek assistance from profession SMSF accountants to see if the asset you are purchasing could potentially breach the related party rules.
A SMSF is a very flexible investment structure. You can use it to invest in almost anything you can invest in personally. However, the investments need to be ‘arm’s length’, meaning that it cannot be used by you personally or a close relation of you.
Once you have the compliance sorted you can invest in a wide range of investments, including:
A SMSF is often run by the members of the fund acting as trustees, whereas other super funds are run by trustees that manage thousands of members. A SMSF can have a maximum of 4 members.
A SMSF allows you much more control in what you invest in and when you buy and sell the assets in the fund. Most other super funds limit you to choosing the asset mix and the risk level of your super balance.
SMSFs are regulated by the ATO. Other super funds are regulated by APRA.
A quick guide to the benefits and drawbacks of a SMSF property investment, brought to you by the experts at Liston Newton Advisory.
Your questions on much you need in your SMSF to enjoy your retirement, answered by the experts at Liston Newton Advisory.