Is it time to operate with more control over your retirement savings? Are you in a financial position where more benefits might be available to you than a traditional superannuation fund offers?
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Self-Managed Super Funds (SMSFs) are an increasingly popular option for Australians who want to take the reins of their financial future. With SMSFs, you can tailor your superannuation investments to your specific needs and goals.
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But with that freedom comes complexity, and that's where Aspire2 Wealth Advisers step in.
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Our Perth-based SMSF experts are here to help you navigate the setup and ongoing management of your SMSF, ensuring you get the most out of your retirement savings while staying on top of compliance requirements.
What is an SMSF?
So, what exactly is an SMSF?
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A Self-Managed Super Fund is a type of superannuation fund that you manage yourself. Unlike traditional super funds, an SMSF gives you complete control over your investment decisions. Whether you want to invest in shares, property, or private equity, an SMSF lets you do it your way.
Benefits of an SMSF
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Control: You're in charge of your investment strategy.
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Flexibility: More investment options, including direct property investment.
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Tax Benefits: Enjoy the same tax advantages as other super funds, with more strategic control.
Who Should Consider an SMSF?
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An SMSF is ideal for individuals who want to take an active role in managing their retirement savings. It's particularly beneficial if you have a substantial superannuation balance and want to diversify your investments.
Why choose Aspire2 Wealth Advisers for your SMSF Advice?
When it comes to managing your SMSF, experience matters. Our consultants and financial advisers at Aspire2 Wealth Advisers can offer you:
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Expert Guidance: Our team has extensive experience setting up and managing SMSFs.
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Tailored Solutions: We offer personalised advice that suits your unique financial situation.
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Client Trust: Our clients trust us to manage their SMSFs with integrity and professionalism.
Assisting with SMSF Setup
Starting an SMSF might seem like a big task, but with the right guidance, it can be straightforward. Our team can help you:
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Choose Your Trustees: Decide whether your SMSF will have individual or corporate trustees.
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Create Your Trust Deed: Set clear rules for your SMSF's operation.
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Register Your SMSF: Get your SMSF registered with the ATO, including obtaining an ABN and TFN.
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Open a Bank Account: A separate bank account is essential for managing your SMSF’s finances.
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Develop an Investment Strategy: Tailor your investment strategy to your retirement goals while complying with the law.
Common Pitfalls to Avoid When You Explore How to Set Up Your SMSF:
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Non-compliance: Failing to meet regulatory requirements can result in hefty penalties.
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Poor Record-Keeping: Keeping accurate records is vital for compliance and auditing.
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Lack of Diversification: Relying too heavily on one type of investment can increase risk.
Our team in Perth specialises in guiding clients through the SMSF setup process. From selecting trustees to crafting a compliant investment strategy, we're with you every step of the way to ensure your SMSF is set up correctly and efficiently.
Ongoing SMSF administration and management
Once your SMSF is up and running, managing it requires ongoing attention to detail. As a trustee, you’re responsible for the day-to-day operations, including investment management, compliance, and record-keeping.
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Fortunately, managing an SMSF doesn’t have to be a burden. Aspire2 Wealth Advisers partners with leading SMSF administrators in Perth to offer efficient, cost-effective solutions. We handle the administrative details, so you can focus on growing your retirement savings.
Advantages of Property Investment Through an SMSF
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Diversification: Adding property to your investment mix can reduce risk.
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Income Generation: Rental income from property can contribute to your retirement savings.
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Capital Growth: Property values may increase over time, adding to your fund’s value.
SMSF Administration Services We Offer:
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Compliance Support: We help you stay compliant with SMSF regulations, minimising the risk of penalties.
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Audit Coordination: We work with experienced SMSF auditors in Perth to ensure your fund meets all legal requirements.
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Investment Strategy Review: We provide ongoing advice to help optimise your SMSF’s performance.
SMSF financial advice and wealth management
To truly maximise your retirement savings, we can provide:
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Strategic Planning: We help you develop and implement strategies that maximise your SMSF’s potential.
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Tax Efficiency: Our advisers identify opportunities to minimise your tax burden within your SMSF.
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Compliance: We ensure your SMSF meets all legal requirements, so you can focus on growing your wealth.
How we help manage and grow your SMSF:
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Personalised Strategies: We create tailored investment strategies that align with your financial goals.
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Continuous Support: We offer ongoing advice to help you adjust your strategy as needed.
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Risk Management: We assist in diversifying your investments to reduce risk and maximise returns.
SMSF compliance and auditing
Staying compliant with SMSF regulations will help you avoid penalties and ensure your fund remains in good standing. Aspire2 Wealth Advisers regularly collaborate with experienced SMSF auditors in Perth to conduct thorough and efficient audits, giving you peace of mind:
SMSF compliance requirements
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Annual Financial Statements: You must prepare financial statements for your SMSF each year.
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Tax Returns: SMSFs must lodge an annual tax return with the ATO.
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Independent Audit: Every SMSF must be audited by an approved SMSF auditor.
How we ensure compliance
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Monitoring Compliance: We inform you about any regulation changes and ensure your SMSF remains compliant.
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Audit Preparation: We help you prepare all necessary documents for your annual audit
Self-managed super fund and buying property
Investing in property through an SMSF can be a smart way to build wealth for retirement. Property can provide stable, long-term growth and generate rental income to boost your super balance, but it also involves navigating complex regulations. Our advisers have the expertise to guide you through the process.
Advantages of property investment through an SMSF
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Diversification: Adding property to your investment mix can reduce risk.
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Income Generation: Rental income from property can contribute to your retirement savings.
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Capital Growth: Property values may increase over time, adding to your fund’s value.
What you need to know:
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Borrowing: SMSFs can borrow to purchase property, but strict conditions exist.
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Compliance: Property investments must meet the sole purpose test, ensuring they benefit your retirement.
Frequently asked questions for SMSF advisers in Perth
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What is estate planning?Estate planning is about more than just writing a will. It’s a way to organise your financial affairs so that your assets are protected and distributed according to your wishes after you’re gone. This includes setting up trusts, appointing an Enduring Power of Attorney, and planning for your superannuation.
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Who should I choose as the executor of my will?The executor of your will is responsible for carrying out your wishes and managing your estate. Choose someone you trust—a family member, friend, or professional like a lawyer or financial adviser.
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What’s the difference between estate planning and asset protection?While estate planning focuses on what happens to your assets after you pass away, asset protection is about safeguarding your wealth during your lifetime, such as protecting your assets from lawsuits, creditors, and other potential risks.
What clients say about our financial planners
These clients have agreed to share their story. Everyone’s situation is different, so their choices and outcomes will be different to yours. Consider your circumstances before deciding what’s right for you.
These clients have agreed to share their story. Everyone’s situation is different, so their choices and outcomes will be different to yours. Consider your circumstances before deciding what’s right for you.
Ready to get Started? Explore your options with a self-managed super fund in Perth today
Aspire2 Wealth Advisers is here to help you unlock the full potential of your Self-Managed Super Fund. With our expert guidance, you can confidently navigate the complexities of SMSF management and build a comfortable retirement.
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Schedule a consultation today and let us help you achieve your financial goals.