Our SMSF Accountants Gold Coast team are specialists when it comes to helping use self-managed super funds to freely invest and prepare for retirement.
A self-managed super fund (SMSF) can seem like a great idea until tax time! This is why QC Accountants provide SMSF tax accounting services on the Gold Coast. Self-managed super is essentially like any other super fund – a way of putting aside money to invest for your retirement. The difference is that you’re in control of where your superannuation funds are invested. An SMSF is a fantastic opportunity to take control of your superannuation and increase your super gains.
Yet SMSF tax can be incredibly complex and requires a seasoned professional to navigate. To add to the complexity of SMSF tax, regulations change from time to time, making it hard to keep up. It’s important to keep abreast of these changes.
Benefits of using a Gold Coast SMSF Accountant
If you’ve chosen to create an SMSF but aren’t completing your tax return correctly, this negates one of the key reasons for creating it in the first place! After all, you don’t want to end up losing your valuable super gains as a result of poorly managed accounting.
When completed correctly, SMSF accounting should minimise your taxes and ensure that your SMSF is ATO-compliant under self-managed super funds laws and regulations. The Australian Securities and Investments Commission (ASIC) requires all SMSFs to be audited annually. This means that every last detail of your SMSF and SMSF tax needs to be correct and compliant.
SMSF accounting can be quite involved, as each SMSF requires its own annual tax return. This is in addition to your individual tax return. And, while you can do it alone unless you’re a tax professional, you might be paying far more tax than you need to. Or, you might be accidentally underpaying, leaving you with a large fine to pay later on down the track.
Contacting your SMSF Accountants Gold Coast team
Contact us online or book a meeting using the link below to reach out to our SMSF Accountants on the Gold Coast team.