Self-Managed Superannuation

By: M & M Group Accounting  28-Jan-2012
Keywords: Accounting, Accountant, Tax

Self-managed superannuation funds (SMSFs) can offer a number of benefits to their members. They can provide greater control over investments and can be a great vehicle for wealth creation purposes due to their low tax rates. They enjoy a 15% tax rate on investment earnings until retirement (with capital gains generally being only taxed at 10%), and a 0% tax rate on investment earnings (including capital gains) while in retirement phase if the monies are being used to draw a pension. When considering setting up an SMSF, a number of factors need to be given consideration and M & M Group Accounting can help guide you through this process. Running your own superannuation fund involves time and knowledge. There are regulatory requirements that need to be adhered to in order to ensure that the monies are protected for retirement purposes and the fund remains compliant. We are experts on the compliance requirements of running an SMSF and are able to greatly assist in this regard. We will also handle the ongoing preparation of the SMSFs financial statements and tax return for you. We are also well positioned to provide the structuring and advice required to ensure that an SMSF is compliant with the superannuation borrowing regulations, should a fund wish to borrow money to acquire an investment property. Please do not hesitate to contact us today for comprehensive advice.

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