SMSF & Trust
Trust and Expertise: Managing Your SMSF and Trust with Brisbane’s Leading Tax Professionals
Putting your trust into Brisbane accounting services can come with its fair share of nerves, not just worry about the figures. Placing faith in another person to manage your financials, especially when it comes to your own hard-earned money such as your superannuation for retirement or for the financial management of your trust account can be difficult. While it might be a cliché, Austral Tax Shop can assure you that our team has your best interests in mind when offering tax return services in Brisbane. We are not only a team that comprises experts who are excellent at number-crunching and understanding taxation laws; our personal tax accountant Brisbane-based services are here to offer you our knowledge, expertise and to top it with a smile. We believe in serving the interests of our clients – that’s you and the many others like you who place trust in our professional accounting firm in Brisbane. So, why trust us?
What Makes Austral Tax Shop Stand Out
Aside from our vision to be an accessible, top-rated professional tax accounting company in Brisbane, our team believes in giving everything our very best. That means customer service excellence for the small individual tax return to the corporate tax accounting Brisbane-based services, to any Self-Managed Super Fund (SMSF) personal tax requirements and those who manage a trust account and require expert trust accounting. We do not believe in a “one-size-fits-all” approach; instead, we see every client as an individual – whether they be a business of large scale or a Sole Trader, or a pensioner trying to ensure that their SMSF financial management is well looked after and optimised, right along to clients with a trust. We want to be here for you, all the way throughout the number-crunching, preparation and submissions; Austral Tax Shop is here for our clients when it counts – and at tax time, it usually counts!
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Self-Managed Super Fund
As a pensioner managing your own super income, it can be difficult to keep track of withdrawals or your financials in general, including expenditure. After all, this is your hard-earned money that you have worked a solid amount of time in order to settle in for your retirement – and perhaps even tick off some of those items off the bucket list or hit the road as a “grey nomad”. Whatever way you wish to spend your well-earned super, you can rest assured that Austral Tax Shop has expert SMSF tax accountants Brisbane to help you with all your tax obligations and ongoing financial management. We understand how important it is to keep your SMSF tracking well and we go the extra mile (and not just in a caravan or motorhome!) to ensure that your financial needs are well taken care of with your super financials and your tax lodgements, if necessary. Our team focuses on optimising your super fund financials and on helping alleviate the stress for you of having to keep track. SMSF accounting in Brisbane is easier with Austral Tax Shop – we are here to help you stay on that track!
Trust Accounting
It’s all in the name really – trust accounting. Placing trust in our team at Austral Tax Shop means that your trust account financials are looked after, and we ensure that we pay close attention to all the nooks and crannies of where the dollars and cents go.
Our expert tax accountants in Brisbane are able to offer our in-depth knowledge, understanding of the Australian taxation laws and regulations, and we provide our strong expertise in driving trust accounting into the future. When it comes to Brisbane tax planning services related to a trust account or top-rated Brisbane accounting services for clients with a trust, Austral Tax Shop represents all that is trustworthy for tracking the dollars and cents. We are also highly focused on accurate and up-to-date record-keeping so we are very vigilant on this. Our team takes pride in ensuring that all records are maintained, our figures add up and that your stress levels can ease while we manage your trust financials. Legislation varies in the requirements for tax obligations between SMSF tax accounting and trust accounting, as there are also specific requirements for both individual or personal tax accountant services in Brisbane and for any scale business.
If this is your year to put a little faith into the best accountants in Brisbane, then you can count your eggs in our professional accounting firm, Austral Tax Shop.
Most Popular Questions
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A Self-Managed Super Fund (SMSF) is a superannuation fund, where control is kept in the hands of its members. The members decide how the fund will operate and what investments the fund will invest in.
The benefits of operating a SMSF are that you have more control over how your funds are invested, more choice of investments, more taxation benefits, and protection of assets in the event of bankruptcy or other legal claims. For larger balances, savings in administration costs can be achieved.
This will depend on a number of factors. However, typical time frames range from one to four weeks.
There are three ways of transferring money or assets into a new fund. You can contribute to the fund non-concessionally from savings, have your employer make a concessional (or SG) contribution, or roll over existing superannuation benefits into the fund (most common).
The trustee can have either an individual or a corporate trustee (company) structure. A single individual must have a corporate trustee as the fund cannot have a single individual as trustee (and member). You must be over 18 years of age, free from bankruptcy, and not convicted of dishonesty charges.
A SMSF cannot have more than 4 members and all members must be Trustees of the fund. There is currently legislation moving through Parliament to increase this to 6 members.
Yes. With the introduction of superannuation choice of fund in 2005, you can instruct your employer to pay your superannuation contributions directly into your SMSF. Employers have a legal obligation to pay your super into your nominated fund (this includes SMSFs).
Yes, with a SMSF you can organise term life, total and permanent disablement and income protection cover to insure the members of the fund. The SMSF can pay the cost of the insurance and claim it as a tax deduction to the fund. Nexus can assist you in selecting the best insurance options for your SMSF.
SMSF administration fees can be paid by the fund. Nexus charges under $2,000 pa (inc GST) for SMSFs with simple investment structures and under $2,500 pa (inc GST) for more complex structures. This fee includes all annual compliance and tax requirements of your SMSF including the administration, financial statements, independent audit, and tax returns.