Self Managed Super Funds Services (SMSF)

A large number of Australians have setup Self Managed Superannuation Funds (SMSFs) for a variety of reasons. 

Every SMSF needs to comply at all times with two sets of rules & regulations: Income Tax Act and Superannuation Industry Supervision (SIS) Act. Failure to comply can result in significant losses of benefits or penalties.

Trustees of the SMSF (who usually are members also) are primarily and legally responsible for running and administering an SMSF whilst keeping it compliant in an ever-changing regulatory environment. It is a complex and time-consuming task with which most trustees struggle.

At DBS Accountants, with years of experience and skills in relation to SMSFs, we are well equipped to provide a range of services to the Trustees of the SMSF. We make sure that the Trustees stay on top of their ongoing compliance obligations.

We provide a full range of SMSF related services including:

  • Administrative work for the establishment of SMSF and SMSF trustee company
  • Preparation of annual accounts, tax returns, member statements etc using industry-leading SMSF administration software,
  • Complying with ongoing real-time reporting requirements using specialist SMSF software.
  • Advice on compliance with SIS Act and Regulations, Income Tax regulations

SMSF Borrowings, Custodian Trust, Compliance with SMSF borrowing rules

The Law allows an SMSF to borrow to buy investments subject to certain very strict rules. It is important that this process is done only after carefully assessing the investment strategy, taking appropriate financial advice and in the right sequence of steps. There are a number of complex SMSF borrowing rules and adhering to each and every one is vital.

At DBS Accountants we can provide administrative assistance in setting up the right structures for borrowing in an SMSF.

Updating of SMSF trust deed

An SMSF’s trust deed is the most important document of the fund. It defines and determines how the fund should operate. However, as Super rules and regulations keep changing it is important to review and update the trust deed from time to time. This regular updating ensures that the trust deed remains compliant with the current regulatory framework, and is able to offer all the benefits as allowable by current rules.

DBS Accountants offer SMSF trust deed updating services via one of the Industry leader in SMSF and corporate documentation.

Want to learn more?

If you wish to talk to our expert SMSF accountants and auditors or learn more about how we can improve your SMSF processes, contact us today.

To discuss in more depth with our team, call us today on 02 9796 4500.

This information has been prepared without taking into account your objectives, financial situation or needs. Because of this, you should, before acting on this information consider its appropriateness having regard to your objectives, financial situation or needs.