Self-managed Superannuation Funds
Super is an extremely important component of an efficient business and investment structure. Self-Managed Super Funds (SMSF's) are rapidly growing in popularity in Australia and offer significant taxation and wealth creation benefits to businesses and individuals. Our strategic business planning regularly incorporates the use SMSF's in minimising the overall taxation burden of the business or family group as well as adding the flexibility of incorporating business assets in the overall SMSF investment strategy. The use of commercial business property in SMSF's has increased significantly in recent years and offers business and family groups the ability to transfer or purchase property into a SMSF for an overall taxation, asset protection and wealth creation benefit.
There are several trust laws and legislative requirements for setting up a self-managed superannuation fund (SMSF). Typically you need to:
- Obtain a trust deed
- Appoint trustees
- Sign a trustee declaration (NAT 71089)
- Elect to become a regulated fund
- Obtain a tax file number (TFN)
- Obtain an Australian business number (ABN)
At Marlston Taxation & Business Advisers we provide the professional advice you need to set up your own fund and greatly simplify the process for you.
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