How an SMSF Specialist Advisor can assist

Consider seeking advice from an SMSF Specialist Advisor for complex areas of the superannuation laws. Fees and charges may apply, as determined by the advisor.

It’s important to know when you may encounter complexities and why you may need assistance with them. The table below outlines the areas you need to consider:

Complex areaWhy you may need assistance
SMSF Deed – reviewReview of your deed to determine the procedures required to wind up the fund.
Options before winding upDiscuss any alternatives to winding up the fund (e.g., the introduction of a new member).
Retirement goals and objectivesWinding up a fund is a major event – an SMSF Specialist Advisor (SSA) can help you revisit your retirement goals and objectives.
Wind-up proceduresAssist you with the administrative processes of winding up the fund
Final auditPrepare the final audit for your SMSF – an SMSF Specialist Auditor (SSAud) can provide this service.
Review of tax optionsReview the assets held by your SMSF, and help determine the tax outcomes from the sale (or transfer) of the assets.
Stamp dutyDetermine any stamp duty liability for a fund member (or other SMSF) receiving an asset by way of property transfer.
PensionsCheck the existing pensions being paid by the fund for the purpose of:Ensuring the minimum pension payment requirements are met;Reviewing the impact of stopping the pension on any existing Social Security entitlements; andChecking whether any special rules apply to your pension. Older pensions such as the ‘market linked pension’ or ‘complying pensions’ have strict requirements that must be abided by – this is advanced and we highly recommend advice be sought if you have one of these pensions.
Tax return and financial statementsPrepare the tax return and financial statements for your SMSF.
Small APRA fundDiscuss with you the option of converting your SMSF to a SAF, and assist you as necessary.

NOTE TO TABLE

  1. Some points raised above require the SMSF Specialist Advisor to be suitably qualified to provide financial advice. Please check with your advisor.