Superannuation

After the family home, Superannuation is the second largest asset of many Australians. Through superannuation, you save and invest money during your working life to fund your retirement. So it is a priority of many companies and individuals to keep track and correct records on their Superannuation. This very important investment can also now be managed by the individuals themselves through the use of Self Managed Superannuation Funds (SMSF).

Benefits of SMSF

• Freedom of investment choice - you decide how and where to invest your superannuation funds for the best returns. This can unlock the door to investment options not currently available, such as property, fixed interest, direct shares, wholesale managed funds, derivatives & alternative investments.
• Maximum tax payable on contributions & earnings in a SMSF is 15% (providing the fund complies with regulations).
• Imputation credits on dividends received can reduce the overall tax to be paid, excess credits are refundable.
• SMSF can invest up to 100% in business real property (family business premises owned by members)supported by impartial and in-depth advice.
• Earnings in the pension phase (eg. allocated pension) are not taxable
• On retirement, assets can be rolled over into the pension phase & any capital gains on these assets will have 0% tax.

Rothsay offers specialist superannyatuon advice in relation to:

• Determining your suitablility to SMSFs - our experience enables us to provide advice on whether self managed super is the best choice for you.
• Establishment of your fund - this involves the preparation of the correct trust and tax documentation. 
• Documentation of the fund's investment strategy - choose from a professionally prepared plan where we select the investments, or a review of your existing investment strategy. It is important to ensure that investments are made only after considering your overall strategy, with attention paid to the investment's risk and return, diversification, the fund's ability to meet payments as they arise, and whether the investments are at arm's length.
• Administration services - the fund will need to record its transactions & prepare financial statements, which need to be audited to ensure it complies with superannuation regulations.
• Running an allocated pension - when you retire, you can draw a pension from your super fund to take advantage of valuable tax concessions.

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