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Enjoy
the benefits of control and choice - reduce complexity and
concerns.
The
taxation features of owning investments within superannuation are
very attractive. A Self-managed Superannuation Fund (SMSF)
is the chosen investment vehicle for many people. There are over
300,000 of these funds in Australia today and their popularity
continues to grow.
Self-managed
Superannuation Funds are typically family or one-member funds set
up by people who want a more hands-on approach to running their
super fund. They provide increased control and flexibility over the
investment decisions.
What
are the advantages of SMSFs?
Appealing
aspects of having your own SMSF include:
- Maintaining
closer control over your investments (subject to relevant
legislation and
the provisions of the Fund’s trust deed)
- Enjoying
wider choice of investments
- Greater
flexibility
in structuring your fund
As
well, there is often the potential for worthwhile savings in
administration costs compared with standard retail
offerings.
While
the benefits are attractive, the complexity associated with
managing a fund of your own is often a concern.
A SMSF does require detailed record-keeping and strict
attention to complying with the regulations. Most people choose to
outsource the day-to-day administration of their SMSF.
The
Pentad Group has a dedicated team which offers a
SMSF administration service. This service provides a
comprehensive level of assistance in order to deliver the benefits
of having your own SMSF without the concerns.
How
does this work?
The
Pentad Group works,
together with a range of professionals, to provide the services
required to establish, manage and maintain the statutory accounting
and compliance records of your fund.
The
full administration service covers Pentad acting as the
mailhouse, that is:
- Pentad
acting as the initial contact point for all
correspondence
- Recording
all relevant entries for your accounts
- Preparing
the necessary accounts and trustee minutes
- Arrangement
of preparation
and lodgement of the fund's Annual Return to the Tax
Office
- Arrangement
of the fund's annual audit
In
addition, Pentad forwards to trustees confirmation of
investment transactions such as purchases and sales of shares,
redemptions of managed funds and provides assistance with queries
regarding the fund’s obligations and administration of
investments.
Should
the fund be in pension phase, Pentad also co-ordinates the
actuarial and taxation requirements.
Fees
for the service?
Pentad’s
fees
for SMSF administration are based on the size and complexity of the
fund. An estimate will be provided on an individual basis.
Further details of the fee structure are contained in our Financial Services
Guide
Contact
us today on (03) 9813-0133 to find out more about Self-managed
Superannuation and how Pentad can help you achieve your financial
goals. | 