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As the Government encourages Australians to take responsibility and reach their financial retirement goals, independently our clients are increasingly seeking advice relevant to their superannuation needs.
Self-managed Superannuation is a means of saving for retirement. It allows you to control your investment strategy, reduce tax while obtaining tax benefits, and control administration costs.
Superannution law is a delicate area and personalised planning is required for each individual. At Cutcher & Neale we are Self Managed Superannuation Fund (SMSF) Specialist Advisors and Authorised Representatives of Lonsdale Limited which enables us to provide strategic advice in establishing a superannuation fund that will effectively allow you to reach your financial retirement goals.
Services offered by Cutcher & Neale
Our Self Managed Superannuation Fund (SMSF) division, is able to provide high quality service whilst continuing our ability to service our superannuation clients by maximising their benefits and realising their strategic goals.
Below is a snap shot of the services provided by our SMSF division.
SMSF Consultancy Services
We provide high quality strategy advice to ensure members obtain the maximum benefit possible from their SMSF whilst also considering their overall financial position. We analyse all factors, both within the internal and external environment of SMSF's, with our consulting advice covering:
- Developing the most beneficial family group structures to maximise the taxation benefits, income streams upon retirement and family wealth succession benefits available through the use of an SMSF.
- Development and implementation of retirement benefit strategies.
- Reasonable Benefit Limit (RBL) management, including managing excess benefits through the use of pension and contribution strategies.
- Advice on compliance with superannuation legislation.
- Wealth generation through the use of the SMSF as an investment vehicle.
- Advice on strategic matters including the use of Reserves for estate planning and income suppression purposes.
SMSF Audit Services
The trustee of a SMAF is required to appint an approved auditor to audit the operations of the fund annually. The role of the approved auditor is to perform an audit of the fund's accounts (financial audit) and to assess the fund's compliance with the relevant superannuation legislation (compliance audit) for a year of income. As an approved auditor, Cutcher & Neale provide:
- Auditing services for SMSFs including both a financial and compliance audit.
- An Annual Audit Report in the approved form to the Trustees of the fund.
- Management letter to the Trustees advising any areas of concern regarding the fund's financial position and compliance with the relevant superannuation legislation.
SMSF administration and compliance
Cutcher & Neale provide all administrative services required for SMSF's to ensure it remains compliant with the rules as prescribed under the SIS Act and regulations and based on the Australian Taxation Office's guidelines. Our services include:
Preparation and provision of :
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Financial Statement and Returns. This includes the preparation of Annual Accounts, Member's Statements, Income Tax and Regulatory Return.
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Annual Superannuation Documentation. This includes a Tax Payment Schedule for the current and future income tax year, Trustee Minutes, Death Benefit Nomination Forms, Appendix A detailing the documents required to complete the superannuation fund for the relevant year.
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Member Contribution Statements.
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Member Contribution and Withdrawal documentation.
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Annual Pension and PAYG Withholding calculations. This includes calculations based on the relevant pension taken; the tax payable on the pension; preparation of the member's PAYG Payment Summary and the Annual PAYG Payment Summary Statement.
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Business/Instalment Activity Statements and Annual GST Returns.
Assistance with:
Preparation and lodgement of the relevant forms to obtain:
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Corporate Trustee for the Superannuation Fund (obtained from Thrifty Shelf Companies);
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Trust Deed for the Superannuation Fund (prepared by DBA Butler Pty Limited);
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ABN, TFN and Complying Fund status issued by the Australian Taxation Office.
Trust Deed upgrades
Corporate Trustee appointments
- Preparation and lodgement of the relevant forms to obtain:
- Corporate Trustee (obtained from Thrifty Shelf Companies);
- Deed of Variation (prepared by O'Hearn & Bilinsky Solicitors).
Pension Strategies and Advice
SMSF's are most importantly formed to provide member's with benefits upon retirement. Therefore it is vital step for member's to obtain specific advice regarding their personal circumstances to ensure they are obtaining the maximum benefit possible on withdrawing their required funds from superannuation whilst minimising tax. Cutcher & Neale provide the following:
Provision of strategic and structural advice with respect to:
- Re-contribution strategies. This is the conversion of taxable benefits within the Fund to tax exempt (Undeducted contributions). This minimises taxation on the payment of a retirement income stream/and or upon death of the member.
- Pension Establishment. This includes determination of the most effective income stream to minimise taxation and meet the member's financial requirements whilst also managing the member's Lump Sum and Pension Reasonable Benefit Limits.
- Acturial Services. Preparation and lodgement of the required documentation to obtain an actuarial certificate for the Fund for the relevant year. This enables the Fund to be exempt from tax up to the pension member's balance in the Fund.
Estate Planning
Estate planning is a vital process for any individual. In respect of SMSF's, it is important to ensure that estate planning strategies are in place and that these are implemented to ensure beneficiaries achieve the most effective tax outcome on death.
Cutcher & Neale provide advice on:
- Superannuation Death Benefits their related tax strategies;
- Testamentary and Superannuation Proceeds Trusts and Child Allocated Pensions;
- Binding Death Benefit Nominations.
SMSF Taxation advice
Includes all aspects of taxation advice with respect to SMSF's, including various tax implications of SMSF management.
 are marks owned by the SMSF Professionals Association of Australia Limited (SPAA) and are awarded to individuals who successfully comple with all the initial and ongoing accreditation requirements of the SPAA Specialist Accreditation Council.
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