What You Should Consider When Finding The Best SMSF Perth
Unless you are a professional accountant there is no way that you could possibly do everything yourself, nor should you even try. So how can you ensure that you find the best SMSF Perth professionals? One way is to look at their websites.
The SMSF specialist advisor will generally have a website set up especially to inform and educate visitors on what they do. You only have to type in the keywords, SMSF specialist advisor, to see many websites pop up. You will then need to go to the About Us page to find out all about the experience this SMSF specialist advisor has had and whether they belong to the appropriate associations. If they are a member of associations such as the SMSF Professionals Association of Australia you can have peace of mind that they do at least know what they are talking about when it comes to running an SMSF.
All self managed super funds Perth specialist advisors should have SMSF accountants working for them. Such accountants have lots of experience in administering self managed super funds and will see to it that your SMSF complies with all the rules and regulations. Since these are so often changing it is no mean feat to keep up with them all. The professionals at self managed super funds Perth know that they themselves will be in trouble if they allow your fund to operate outside of such rules and regulations. Specialists at self managed super funds Perth will be able to advise on what kinds of investments are suitable for your SMSF.
Your SMSF setup should be overseen by an SMSF specialist advisor to ensure that everything is right. You are the trustee of your SMSF and so are the responsible entity. If anything is wrong, you will be the one to take the blame and suffer the consequences. That is why it is so important to get the SMSF setup right from the beginning.
The SMSF setup can differ depending on whether you are to be the only trustee, whether there are to be other trustees or whether there will be a corporate trustee. Many other things affect the set up which is why you need professional people to help you.
SMSF accountants will tell you that a single member fund is the simplest form of SMSF. However even the single member fund needs to remain compliant by following the rules in the trust deed as well as the super laws. In fact, a single member fund is actually a misnomer because there needs to be at least two trustees, not one.
The trustee is responsible for doing the annual report or audit and sending it to the Australian Tax Office (ATO). Naturally, it is professional SMSF accountants who do this on your behalf. If you don't have SMSF accountants to help, your fund is non-compliant and you risk being fined.