Superannuation provides significant taxation and asset protection benefits, and is a great way of accumulating wealth for your retirement.  We can advise you on the benefits, and give useful information regarding the various types of superannuation funds available.

Self-managed superannuation funds (SMSFs) are currently experiencing an explosion in popularity in Australia.  In association with other appropriate qualified experienced and licensed professionals, we can assist you through the maze of setting up a self-managed superannuation fund.  Ruddicks is not licensed to provide financial product advice as defined by the Corporations Act, however we are able to assist you with your superannuation needs including:

1. Introduction to super by:

  • Explaining factual information about super, including choice of fund and contribution limits
  • Explaining the benefits of consolidating super assets into a single fund
  • Advising which assets can be contributed into an SMSF in accordance with the Superannuation Industry (Supervision) Act 1993 (SIS Act)
  • Explaining the rules for one-off lump sum withdrawals
  • Highlighting the insurance coverage risk in changing super funds

2. SMSF administration:

  • Advising on SMSF administration and operational issues, including type of trustee
  • Providing information in relation to compliance about in-house asset rules
  • Maintaining SMSF trustee and member records
  • Preparing annual returns and undertake the annual audit
  • Arranging paperwork from service providers, including superannuation lawyers and actuaries
  • Highlighting deficiencies in, and monitoring compliance with, the trust deed
  • Tracking member account balances and investment valuations
  • Explaining death benefit options and their tax treatment

3. Pensions:

  • Explaining the tax implications of pensions
  • Setting-up a super pension, on the instructions of the trustees
  • Calculating the minimum and maximum pension amounts allowed under the current superannuation regime

4. Investments:

  • Documentation of the investment strategy by way of providing a generic investment strategy template to ensure compliance with SIS legislation
  • Explaining SIS Act investment restrictions
  • Advising on valuation of SMSF assets
  • Assisting with rolling over assets
  • Assisting with the arrangement of off-market transfers
  • Implementing a Limited Recourse Borrowing Arrangement (LRBA)

Taxation is only one of the matters that you need to consider when making a decision on a financial product, therefore you should consider seeking advice from a suitably qualified, experienced and licensed professional.  We can work with your existing Australian Financial Services Licensed (licensed) professional, or can provide recommendations to licensed professionals that have the appropriate experience and expertise to assist you with your specific circumstances. 

Ruddicks is an independent firm and we do not receive any commissions for the referrals that we make.





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