Self-Managed Super Funds in Bundaberg

Locally Based Accountants

Tailored Financial Solutions

Dedicated SMSF Support

Assistance with Your Self-Managed Super Fund

Managing self-managed super funds can be complex without the right guidance. Simple Solutions Accounting, based in Bundaberg, offers support to help individuals and businesses handle their superannuation responsibilities. Our team can provide assistance with fund setup, compliance, and ongoing reporting to help clients meet their legal obligations.

With self-managed super funds, it’s crucial to maintain accurate records, lodge required returns, and stay up to date with changes in regulations. Whether you are starting a new SMSF or need help managing an existing one, we can assist in keeping your super fund compliant and organised.

Trustees of SMSFs must take on significant responsibilities, including ensuring that all actions taken by the fund comply with superannuation laws. Having professional support can reduce the administrative burden associated with these tasks.

Contact Simple Solutions Accounting in Bundaberg on 07 4152 1767 to discuss your self-managed super fund requirements.

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Your Partner in Self-Managed Super Funds

Simple Solutions Accounting offers a range of services for self-managed super funds. Our services are designed to assist individuals in meeting compliance requirements and managing their superannuation effectively. Our key SMSF services include:

Fund Setup: Assistance with establishing a compliant SMSF structure.
Reporting: Helping prepare financial statements and annual returns.
Compliance: Guidance on meeting ATO regulations and requirements.
Audit Coordination: Help with arranging required independent audits.

SMSFs require ongoing management to meet annual compliance obligations and reporting deadlines. We can help you navigate these processes, working towards a fund that's compliant and well-maintained year-round.

Working with professionals can help simplify SMSF administration. Contact us today to learn more about how we can support your self-managed super fund.

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Frequently Asked Questions

What is a self-managed super fund (SMSF)?
A self-managed super fund (SMSF) is a private superannuation fund that individuals manage themselves. SMSFs allow members to make investment decisions and control their retirement savings.

However, SMSFs must comply with specific legal and regulatory requirements set by the ATO, including annual reporting, record-keeping, and independent auditing. Trustees are ultimately responsible for ensuring compliance with all relevant regulations.
Who can set up a self-managed super fund?
Any individual or group of up to six people can set up a self-managed super fund, provided they meet the eligibility criteria. Trustees must be over 18, not bankrupt, and not disqualified by the ATO.

Before setting up a SMSF, it is important to understand the responsibilities involved, including compliance, administration, and ongoing management. Proper planning and adherence to superannuation rules are crucial when managing a SMSF.
What are the compliance requirements for SMSFs?
SMSFs must comply with regulations set by the ATO, including maintaining accurate financial records, lodging annual returns, and arranging an independent audit. Trustees are responsible for ensuring that the fund follows its investment strategy and that all actions are in line with superannuation law.

Failing to meet compliance requirements can lead to penalties.
How often does a SMSF need to be audited?
A SMSF must be audited annually by an independent and approved SMSF auditor. The audit covers both the financial statements of the fund and the compliance of the fund with superannuation laws.

Trustees are responsible for ensuring that the audit is completed before the SMSF annual return is lodged with the ATO.