Self-managed super funds are becoming increasingly popular, but it’s important to understand that they are highly regulated and governed by the Australian Taxation Office (ATO). It’s crucial to seek expert advice when setting up and running an SMSF. At KLW, our SMSF Audit Licence is evidence of our SMSF knowledge and expertise.
A self-managed super fund can help you to take control of your financial future. There are many potential benefits, including the following:
SMSFs can directly invest in a diverse pool of assets like shares, bonds, commercial and residential real estate.
SMSFs don’t have any management fees like other types of other super funds do. This results in significant savings over the medium to long-term.
SMSFs can borrow to invest in residential and commercial property.
SMSFs have an attractive tax rate of just 15% on contributions and income earned. Capital gains are taxed at just 10% (and in some cases, not at all).
SMSFs can help you pass on tax benefits to your beneficiaries or dependants via smart succession planning.
It’s important to get professional advice to ensure ATO compliance with your SMSF administration, tax returns, reporting and financial statements. You also need professional advice to ensure you have a suitable investment portfolio.
We can help you to determine your fund’s structure, establish its trust deed, register it with the ATO, and create an investment strategy.
Once your fund is up and running, we can assist you with all your SMSF compliance reporting and record-keeping obligations, ensuring that you meet all the deadlines.
Our team can prepare your SMSF tax return and associated financial statements, helping you fulfil and manage your tax obligations.
It’s a legal requirement for SMSFs to have an annual independent audit. Our SMSF Audit Licence (provided by the Australian Securities and Investments Commission) enables us to provide this service for you.
Whether you’re looking to set up an SMSF or have an existing fund, our team has the knowledge and expertise to provide you with the best ongoing professional advice.
Borrowing for investment is a popular SMSF strategy. SMSF loans should be limited recourse borrowing arrangements (LRBAs) to protect the SMSF’s other assets if there is a repayment default. We can help you to set up these LRBAs.
Our pharmacy engaged Kelvin Wang as our accountant in 2014. Shortly after Kelvin’s involvement with our business, we have transferred from a desktop system to fully cloud base MYOB system. We are impressed with the service we receive from Kelvin Wang, the managing director of KLW Group Pty Ltd. We were looking for someone to look after our book, but what Kelvin has done for us is so much more. In fact, Kelvin became the virtual CFO for our business, providing tax advice and helps with our finance matters. The service provided is beyond comparison. I would be very pleased to recommend the service of KLW Group.
Kelvin has helped me to get on top of all my accounting and tax for my business and family for over 5 years now. He is now not only an accountant to me, but a trusted business consultant and friend. He is always there whenever I have any questions or issues regarding accounting finance and tax . I would not make any significant business decisions without consulting him first. His knowledge and expertise in the area helped me saved real dollars and avoid a lot of potential risks. He is also an expert in self managed superannuation. His advice is saving me money and growing my super. There are lots of accountants out there in Sydney, but Kelvin is one of the best, a trusted business partner and a friend who helps with business and family wealth growth.
We engage Kelvin Wang as our accountant and have been impressed by his professionalism and comprehensive business knowledge. The service offerings are, indeed, tailored to our needs. Kelvin and his team have helped us with tax compliance, international tax issue resolution, and implementation of new financial systems. The approach is both practical and easy to understand. We are much appreciated that company finance has been well looked after, and let us concentrate on our core business and improve customer satisfaction. We would be very pleased to recommend the services of KLW Tax.