SMSF Admin and Compliance

Taking super to the next level

Self Managed Superannuation Funds (SMSF’s) are now the largest and fastest growing section of the superannuation industry. As at 30 June 2020, there are 593,000 SMSFs holding $733 billion in total assets, with more than 1.1 million SMSF members all wanting more control over their retirement savings.

Done properly, a SMSF can be an extremely beneficial and flexible tool for managing your superannuation, and AGS Financial Group can help with all aspects of your SMSF journey.

Key Benefits of a SMSF can include;

  • Ultimate Control and flexibility over:
    • investments
    • insurance
    • taxes and
    • estate planning
  • Ability to borrow and leverage your investments (eg property, shares)
  • Full transparency
  • Better engagement and investor confidence
  • Administration to take care of your reporting requirements

AGS Financial Group can help you assess the suitability of a SMSF for you, and help you take the control you want over your super savings. And of course, we’ll continue to work with you to ensure your Self Managed Fund remains a Well-Managed Fund, and your super outcomes are maximised.

SMSF Administration and Compliance

AGS Financial Group uses the leading cloud based SMSF administration software, Class Super to manage our client funds. Class Super is used by accountants, administrators and advisers in over 1,500 firms across Australia.

Class Super streamlines all aspects of SMSF administration by enabling a wide range of users (including accountants, administrators, financial advisers and auditors) to manage all their SMSF administration and reporting needs from a single system – everything from set up to lodgment. This is of benefit to you the client as this allows us to deliver efficient and truly automated management of your Self Managed Super Fund.

How we can help you

Our dedicated team of experienced SMSF professionals will support and guide you through the many processes and tax obligations required by all trustees of SMSF’s. This includes :

  • Establishment and registrations of new SMSF’s – compiling all necessary documentation to meet legal requirements
  • The gatekeepers of ATO correspondence
  • Overseeing and advising on all Trustee and compliance obligations
  • SMSF administration, including the coordination of updates and changes of deeds; trustee/s and member/s
  • Preparation and management of your year-end accounting and tax requirements incl. financial statements, minutes, lodgements, actuarial certificates
  • Coordination of your annual SMSF independent audit
  • Advice on your SMSF taxation strategies

Fixed Fees

To ensure our clients are satisfied with value for money in all services we provide, we believe in providing up-front engagements including an annual administration fee, rather than simply charging at hourly rates. We see that this provides certainty to both parties with no surprises along the way.

Services click to expand

  • Maintaining an investment register for listed securities, derivatives, fixed interest, managed funds, direct property and unlisted assets
  • Maintaining individual member records including details of contributions, allocation of earnings, benefit payments and member components
  • Maintaining multiple member accounts including accumulation & pensions
  • Transfer Balance Account Reporting (TBAR) reports events on the members balance to the ATO
  • Preparation of minutes/resolutions on an annual basis and when required throughout the year (as applicable)

  • Preparation of annual statutory financial accounts and lodgement of ATO return
  • Preparation and lodgement of BAS and IAS returns (as applicable)
  • In-house provision of actuarial certificates
  • Establish & maintain an auditor relationship on behalf of the fund
  • Retention of records in digital format and hard copy for the mandatory periods

  • Advice on minimum pension obligations
  • Pro-active SIS compliance review and annual sign off (eg trust deed, investment strategy, death benefit nominations, asset title, etc)
  • Monitoring of non-standard assets to advise of the need for revaluation

 

Contact Us today to request assistance with your SMSF Admin and Compliance matters smsf@agsfinancialgroup.com.au