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info@twaccountants.com.au
Assistance With Self-Managed Super Funds
New SMSF’s
Our team will help you set up a self-managed superannuation fund, walking you through all aspects of the process. These include choosing between individual or corporate trustees, trustee appointments, deed creation, and more.
- Management of Financial Planner Relationship to Obtain Statement of Advice
- Structuring Advice
- Establishment Service
Administration Services
Teefy Wolfe Accountants provide superannuation administration for clients across the Gold Coast and surrounding regions. Our team will walk you through all relevant considerations you need to make, as well as annual lodgement obligations
Transaction Data Entry
We use Class Super software that is uses the latest technology to import your bank and investment information on a daily basis. This constantly gives us up to date information so when you have questions regarding your SMSF we can provide the best advice.
Reporting
Our software has a multitude of great investment reports that we provide to clients. You will be able to carefully review your investment performance from many different vantage points.
Income Tax Lodgements
Need help with superannuation accounting and taxation lodgements? We will help you understand your reporting obligations to the ATO at the end of each financial year, as well as pension commencement and more. With daily updating of bank feeds, we can provide on-the-spot advice with real time data.
GST Lodgements
Do you have commercial properties in your SMSF that earn over $75,000 in lease income? You need to be registered for Goods & Services Tax (GST) and lodge Business Activity Statements. We manage this entire process, so all you have to do is pay the GST amount we tell you to the ATO.
Pensions
Commencing a pension should be exciting, as you finally get to see your hard work pay off. However, this can be more complicated than it seems. Teefy Wolfe Accountants will provide all the information you need, so you can commence your pension without confusion or non-compliance.
Transfer Balance Account Reporting (TBAR)
All pension commencements, ceasing of pensions and pension commutations must now be reported to the ATO in the quarter they occurred. Penalties can apply if not reported on time. Our software ensures all pension related events are identified and reported each quarter.
Transition to Retirement
Reaching your preservation age, you may commence a transition to your retirement income stream or retirement-based pension—depending on whether you choose to maintain some form of employment or retire completely. We will walk you through the tax implications for transition.
Minimum Pension calculations
We remind all our SMSF clients when it gets close to 30 June to remind everyone what their minimum pension withdrawal requirements are so that you know exactly how much to withdraw and also, so you don’t forget!
Re-Contribution Strategies
A re-contribution strategy is a way to minimise payable tax on either a super income stream, or when your inheritors receive your super benefits. By withdrawing and then re-contributing your super, you can, in effect, pre-emptively avoid tax on your super for your beneficiaries.
Audit
We completely manage the compulsory annual audit process. We have a great relationship with an external auditor who provides quality auditing with fast turnaround times. We are able to communicate effectively to discuss any current or future potential issues. We work together with the auditor to develop effective solutions to ensure you continue to meet your obligations as trustees and avoid any negative interaction with the Australian Taxation Office.
Hot Topics!
Director ID for your SMSF
Did you know that you still need to register for a Director ID even if your company is just a trustee of a Self-Managed Super Fund.
SMSF’s can buy
Crypto
Did you know that SMSF’s are permitted to buy Cryptocurrency. Also, most crypto exchanges provide good end of year reports that are acceptable by the auditor.
50% Minimum Pensions Extended
Did you know that the ATO has extended the 50% minimum pension percentage for another year (2023). This is great news for SMSF’s with investments that have poor performance.
