Newcastle Accountants
Small Business Accountants
Newcastle Tax Agent's & Financial Advisors

Accountant Services for SMSF (Self Managed Super-Funds

1. SMSF Setup and Structure:
   • Advising on the optimal fund structure and establishment process.
   • Assisting with the creation of the trust deed and registration with the ATO.
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2. Investment Strategy Development:
   • Formulating a compliant and effective investment strategy tailored to members’ goals.
   • Regular reviews and adjustments to the investment strategy in response to changing regulations and market conditions.
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3. Financial Statement Preparation:
   • Annual preparation of detailed financial statements, including asset valuations and member balances.
   • Ensuring accuracy and compliance in financial reporting.
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4. Contribution and Pension Strategy:
   • Guidance on contribution caps, types, and strategies to maximize fund growth.
   • Advising on pension phase transitions, including minimum drawdown rates and tax implications.
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Tax Agent Services for SMSF

1. Tax Planning and Advice:
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   • Strategic tax planning to optimize the fund’s tax position.
   • Advice on the tax implications of investment strategies and individual transactions.
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3. SMSF Tax Return Preparation and Lodgment:
   • Preparation and lodgment of the SMSF annual return, including income tax and regulatory sections.
   • Calculation of taxable income, tax liabilities, and available tax concessions or exemptions.
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4. Capital Gains Tax Management:
   • Strategies for minimizing capital gains tax on the disposal of fund assets.
   • Record-keeping and reporting for CGT events within the fund.
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5. ATO Compliance and Audit Support:
   • Assistance in responding to ATO inquiries and audits.
   • Advice on rectifying compliance issues and avoiding future penalties.
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Auditor Services for SMSF

1. Comprehensive Compliance Audits:
   • Conducting mandatory annual audits covering both financial statements and compliance with superannuation laws.
   • Assessment of the fund’s adherence to the SIS Act and ATO regulations.
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2. Audit Reporting and Recommendations:
   • Providing detailed audit reports identifying compliance breaches and financial discrepancies.
   • Offering actionable recommendations to address audit findings and enhance fund governance.
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3. Regulatory Guidance:
   • Keeping trustees informed of legislative changes and their implications for the SMSF.
   • Advising on best practices for maintaining compliance and avoiding regulatory pitfalls.
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Bookkeeping Services for SMSF

1. Transaction Processing and Record-Keeping:
   • Accurate recording of all fund transactions, including contributions, income, expenses, and investments.
   • Maintaining comprehensive and orderly financial records in accordance with ATO requirements.
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2. Bank and Investment Reconciliation:
   • Regular reconciliation of bank accounts and investment statements to ensure the integrity of financial records.
   • Identification and correction of discrepancies in a timely manner.
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3. Member Statements and Reporting:
   • Preparation of annual member statements, detailing contributions, earnings, and account balances.
   • Provision of periodic reports to trustees for informed decision-making.