21 Caesia Way, Caroline Springs, Victoria 3023
Caroline Springs

SMSF Accountant

From Collingwood to Caroline Springs, We Have You Covered

When you stop working and enter into the retirement phase of your life, you’re still going to need a regular stream of income to fund your post-employment lifestyle. It’s important that employees begin to build wealth early on in their working lives so they can continue living comfortably as retirees. If you want to exercise more control over your financial future by opting for a self-managed super fund instead of a generic industry or retail fund, an SMSF accountant from Tanishq Accounting can assist. From Caroline Springs to Collingwood and everywhere in between, our SMSF accountant is here to help you build the future you want.

What is a Self-Managed Super Fund?

Referred to as an SMSF for short, the self-managed super fund is a structured account designed to provide benefits to the members when they retire. One crucial difference between an SMSF and a standard industry or retail super fund is that the members of the SMSF are all trustees of the account.

How Do You Set Up An SMSF?

An SMSF accountant from Tanishq Accounting will be able to open your self-managed super fund for you, but we’ll need a number of things to ensure it remains compliant with strict laws and regulations upheld by the Australian Securities and Investments Commission (ASIC).

Whether you see our SMSF accountant in Caroline Springs, Collingwood or elsewhere in Melbourne, we’ll take you through the steps needed to establish your self-managed super fund. These include setting up the trust, which requires you to nominate people to appoint as trustees, obtaining the trust deed, signing an official declaration, and opening up a cash account to work alongside it. Your SMSF accountant will explain the ASIC laws that dictate the use of your SMSF; particularly around the area of signatories and trustee access. If you don’t abide by the laws and get caught out, it could warrant a financial penalty.

What Are the Benefits of Being an SMSF Account Holder?

The key benefit is that you’re in control of your super. You can determine what you invest in, whether it’s shares, gold, property or even artwork. You can also opt for a low risk with low growth investment strategy, or a high risk/high growth plan. Other benefits include:

  • Concessional tax rates
  • Market driven flexibility
  • Transparency
  • The option to consolidate assets

If you feel your current superannuation isn’t working to meet your post-retirement needs and you want something that better achieves those outcomes, speak to an SMSF accountant at Tanishq Accounting today.