How Stones Sharp Can Advise On Your Self-Managed Superannuation Fund Compliance

Whether you have an existing Self-Managed Super Fund or you are looking to establish one, it is important to seek professional advice and direction. Whilst we are not financial planners, Stones Sharp in Kew can direct you to  the right financial planner that will take into account investment strategies, tax minimisation, insurances, beneficiaries, death nominations and other SMSF aspects.

As a Trustee and Member of the fund, there are also specific obligations, reporting and lodgement requirements that must be adhered to. At Stones Sharp, our team can advise Trustees and Members to ensure the fund is compliant with current legislation and tax regulations.

Whether you have an existing Self Managed Superannuation Fund or you are looking to establish one, Stones Sharp can assist you in:

  • Completing relevant forms and paperwork, including obtaining trust deeds
  • Establishing a bank account
  • Preparing annual financial statements and income tax returns
  • Liaising with external auditors and financial planners

Get In Touch About Self-Managed Superannuation Funds

    Why Seek Self-Managed Superannuation Fund Compliance Advisory?

    Self-Managed Super Funds have become increasingly popular as they provide wider investment choices and more control over your savings. However, it is important to understand all the ongoing responsibilities that come with managing a SMSF. Understanding your specific obligations, reporting & lodgement requirements, and responsibilities will assist you in your long-term investment strategy and record keeping.

    Establishing a SMSF also does not mean that you are exempt from the income tax rules and regulations, ATO lodgements and general paperwork. You will still need to adhere to compliance regulations and have the fund audited by a registered third party auditor. Speak to our accounting team to ensure that your fund complies with current legislation.

    What Our Clients Have To Say

    I have been a client of Shane Borg for 20 plus years. Over this time I have always sought advice for my business, investment ventures, taxation planning and obligations for my ventures and self-managed superannuation fund. The team at Stones Sharp are more than tax accountants, they are akin to business partners assisting me in wealth creation and business management advice.


    Stones Sharp Client

    I have been a client of Stones Sharp for almost three decades and over that time they  have looked after the affairs of several companies, as well as managing my super fund and a number of personal accounts. I have stayed with them because of the care and support they have provided and their strong understanding of my personal needs.


    Stones Sharp Client

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    Frequently Asked Questions

    What is the difference between a Self-Managed Superannuation Fund and a Industry/Retail Super Fund?

    You can receive specialist advice about your SMSF from different financial professionals. At Stones Sharp, we can help assist with adhering to your SMSF requirements, such as lodgements, reporting, and financial statements, so the fund can remain legally compliant. Financial planners will be able to provide financial advice about your fund, including investment strategy, types of investments, opening or closing a fund, and contribution level.

    How does Stones Sharp ensure an SMSF remains legally compliant?

    There can be many administrative components to managing an SMSF due to its regulatory complexity. Stones Sharp can assist by preparing and keeping track of annual financial statements and tax return lodgements. We also assist in transparent record keeping and documentation to chronicle the fund’s activity and transaction for an annual audit. By closely working with clients, we can help identify and address potential compliance issues with the SMSF’s contributions.

    Are SMSF set-up and operating costs tax deductible?

    The initial set-up costs for your SMSF are not tax deductible, as a SMSF is not considered a business entity according to the ATO. Operating costs are tax deductible for the most part, such as management and administration fees, audit fees and the ASIC annual fee. Some investment, tax, and legal expenses can also be tax deductible if they are specifically incurred from managing the fund.

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