Self-managed superannuation funds (SMSFs) can provide a great deal of flexibility in retirement, but along with that flexibility comes a great deal of regulation. Managing your own superannuation fund can, therefore, be a complex and time-consuming task.
The Blueprint Wealth team has developed considerable expertise in this highly complex area. We have Self-Managed Super Fund Association Specialist’s (as accredited by the Self-Managed Super Fund Association) on staff.
At Blueprint Wealth, we assist clients to understand their obligations and provide practical advice in operating Self-Managed Super Funds.
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Our SMSF Advice Services
To successfully run your SMSF Blueprint Wealth will assist you to:
- Co-ordinate all of the allied services including accounting, audit, lawyers and administrators
- Advise on the initial SMSF setup and trust deed requirements
- Develop, implement and provide ongoing optimisation of the SMSF investment strategy
- Structure benefit payments
- Facilitate estate planning strategies
- Set up SMSF borrowing arrangements for property investments
- Do all the above with taxation effectiveness in mind
We will advise you on the suitability of setting up a self-managed super fund and the procedures for doing so. Blueprint Wealth also provides an ongoing service for SMSF trustees which allows us to meet as often as every quarter for face-to-face discussions around your SMSF strategy needs. We will also arrange updates of your trust deed when required due to your changing circumstances or changes in superannuation legislation.
We will assist you to set up the initial SMSF trust deed and have it registered with the Australian Taxation Office (ATO) through our relationships with SMSF legal firms. We will provide you the advice to ensure that the trust deed is well structured to facilitate flexible strategies for investment, benefit payments and estate planning. Alternatively, we can facilitate the trust deed establishment through one of our preferred administration providers.
Blueprint Wealth can advise you on superannuation investment rules and provide you with your portfolio strategy through our Wealth by Design™ service. Wealth by Design provides SMSF trustees the ultimate in control over their investments, but with the flexibility and transparency that they require to ensure they are meeting the fund’s stated investment objectives.
One of the benefits of an SMSF is to be able to trade in direct shares. We will coordinate with specialist brokers in direct shares to ensure you are receiving appropriate advice on direct share investments from highly qualified equity specialists.
Blueprint Wealth can assist you with finding a solution for your SMSF compliance requirements. We can recommend either an accounting firm or a specialist super fund administrator depending on your needs. These service providers offer a comprehensive administration and management solution for time poor trustees including fund establishment services such as trust deeds, compliance and tax reporting, independent audits and actuarial certification.
It may be beneficial for the SMSF members to hold their insurances through the superannuation fund. This will allow premium payments to be funded from the assets of the fund and may facilitate better estate planning options. Blueprint Wealth will provide you with the advice to optimise your insurance coverage needs, including the appropriate type and level of risk insurance. An SMSF allows for more advanced strategies to be adopted in insurance that are generally not available under a retail superannuation fund.
Accounting and Audit
We may refer you to an accounting firm who can assist you in preparation of your annual tax return and will coordinate the annual audit plus actuarial work if required. Alternatively, we can provide this service as part of a broader administration mandate as described next.
Blueprint Wealth will advise you on the very specific legal structuring required to facilitate a geared investment strategy into property. We will work with our chosen legal and property experts to deliver a property investment strategy for your SMSF.
One of the advantages of an SMSF is the ability to purchase business real property inside the SMSF and lease it back to a related party. This approach can be an effective way of building long term tax effective wealth inside the super fund, while also securing long-term business real estate security for a small business. We can advise you on the necessary steps required to move existing business real property into your SMSF or acquire new property in your SMSF.
Borrowing inside an SMSF can present legal obstacles; this is one area where you should seek guidance before you consider setting up a gearing strategy for your SMSF. Blueprint Wealth has vast experience in SMSF borrowing and can help you to set up the appropriate legal structure for borrowing inside the fund. As we are also a licenced mortgage broker, we can help you to secure the loan you need for your chosen investment and advise you on the appropriateness of a borrowing strategy.
One of the key advantages of an SMSF is structuring your benefit payments in a flexible manner. We will advise on the range of benefit payment strategies and ensure this is consistent with your taxation, investment and estate planning objectives.
Another key advantage of an SMSF is the estate planning flexibility it provides for you and your ultimate beneficiaries. We will advise you on how to use your SMSF to meet your estate planning requirements.