Frequently Asked Questions

Common questions about SMSF formation, management, and general investment vehicles

SMSF FORMATIONWhat does an SMSF administration company do?

Establishment of your SMSF

In order to be eligible for tax concessions, an SMSF needs to be correctly set up to receive contributions and simplify administration. To do this, it’s essential to know the total number of allowable SMSF members (currently a maximum of four) as well as to make certain that the SMSF is created and maintained for the singular purpose of offering retirement benefits to its members.

At a minimum, this means the creation of a Trustee Declaration (a statement stating that you have a full understanding of your duties and responsibilities), a Trust Deed (a legal document which explains how to set up and operate your SMSF) as well as assets and registration via the Australian Business Register (ABR)

Audit & Taxation services

Owing to complicated compliance regulations, there are several strict criterion that must be met as part of your annual SMSF tax obligations. This can include a yearly audit, asset valuation requirements and fund account preparation.

Furthermore, lodgement due dates are strict and there is also a need to revise your strategic investment plan regularly. As part of the regular duties of ASAL, we can offer a one-stop shop for all audit and taxation requirements.

Investment Services

At the core of an SMSF is the end goal of creating a solid return on investment that can help produce a larger retirement fund than what you would achieve through traditional high-fee retail funds.

As part of this, ASAL can provide assistance with transaction administration, personalised investment advice (through a team of SMSF specialists and a network of partner firms) and investment research.

Like all things SMSF, the compliance and regulatory requirements of an investment are incredibly arduous which is why many of our clients have happily outsourced these key administrative tasks to ASAL.