RSM Australia

Self-Managed Superannuation

Due to the ageing population in Australia the Government has focused its retirement policies towards self-funding retirement. Significant incentives are provided in order to encourage people to save towards their retirement, with the incentives predominantly delivered through taxation concessions.

Self-Managed Superannuation Funds (SMSFs) are an appealing option for business owners and individuals who want to control their superannuation assets.

Self Managed Superannuation literally means just that – you in the drivers seat, controlling the course of your retirement benefits. There are many benefits to setting up your own SMSF, including:

  • Family wealth strategies
  • Greater control over investments
  • Accumulate your wealth in a tax-effective environment
  • Flexible access to benefits in retirement

We can help you every step of the way in setting up and maintaining your Super with our full-range of SMSF services.

As you would expect, our specialist advisors provide compliance services for trustees, such as the preparation of financial statements, audit and taxation returns. We also offer comprehensive technical and financial solutions for clients seeking to maximise wealth from their self-managed funds, such as family wealth strategies for current and future generations or income streams in retirement.

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RSM Finalists in ifa Excellence Awards

RSM are proud to announce that we have been selected as finalists in the 2017 ifa Excellence Awards. RSM Financial Services are in the running to take one of Australia’s top industry awards, Best Client Servicing of the Year, in the Company category.

Downsizer contributions

The 2017 federal budget was a quiet one for superannuation with no substantial reforms or tinkering with the system. One reform announced was the ability for amounts to be contributed to superannuation over and above the current limits where individuals are downsizing their primary residence. 

Superannuation contribution opportunities and traps

The first issue to be aware of is the reduction in super contribution limits that start from 1 July 2017.

Choosing capital gains tax relief

A key component of the Fairer Super reforms is the ability for superannuation funds impacted by the reforms to revalue their assets to their current market value for taxation purposes.

Transfer balance cap reporting

The introduction of the $1.6m cap on pension accounts will result in additional reporting requirements to the ATO by SMSF trustees.  All SMSF’s that are paying retirement pensions to their members will be required to report these to the ATO, even if the total balance of the members pension is less than $1.6m.

Superannuation - there can be traps for the unwary

In the lead up to 30 June no doubt cash flows and taxation projections were a focus for many SME owners.  One of your plans could have been to contribute a sum of cash into superannuation and claim a tax deduction. 

Self Employed - Boost Your GESB Super with PAYG from the WA State Government

If you are a former employee of the WA State Government and now earn your living through your own business, you’ve probably been enjoying some of the pay-offs of the contributions rules afforded to you as a result of being a member of the GESB West State Super Fund.

Impending Superannuation Changes

On the eve of the new financial year let’s take a look back on some of the key Superannuation Changes that will begin to affect people from 1st of July 2017. In some cases, you’ll need to take action well before then.

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Everyone’s circumstances are different and as this website doesn’t take into account your personal circumstance, it is therefore important that you consider the above in light of your financial situation, needs and objects, and seek financial advice before implementing a strategy.
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