You can’t just keep working and keep your financial condition stable all your life. Eventually, you’ll need to retire from work and give your body and mind the rest that it needs. However, if you want to maintain your lifestyle even when you’re not earning an income, you need to start investing early. One of the best funds to invest in is the self managed superannuation funds in Liverpool. They are very popular amongst young people and offer great returns. At Silver & Young Chartered Accountants, we believe that the SMSF is one of the best places to invest your savings if you want a comfortable nest-egg after you retire.
About Self Managed Superannuation Funds in Liverpool
The SMSF is often the biggest investment Australians make outside of their residential and commercial properties. These investments are very secure and offer great returns as well. As the investor, you also get great control over the fund. You can study the performance and alter your investments according to your liking. You can also pool the wealth of your family and get better returns by investing more money. The self managed superannuation funds in Liverpool will allow you to add as many as four trusties.
However, setting up and maintaining this fund can be very complicated and time consuming. The set-up process is very detailed and would take considerable time to understand. Our experts can guide you through it and ensure that you get the best possible results from your investment. We will also help you maintain the funds and ensure that they keep performing well. With us in your corner, you don’t need to worry about your investment not offering good returns.
The Set-Up Process
As we mentioned before, the set-up process of self managed superannuation funds in Liverpool is very complicated. If you try to do it yourself, you’ll miss something and land in trouble. While the ATO has explained the entire process on their website, even they recommend that you hire a professional to help. Here’s the process of setting up the fund.
- You first need to decide who the trusties or fund members are going to be. You can add up to four members.
- The next step is to establish and then register the trust and the trust deed.
- You will also require a new, separate bank account that’s connected to the trust. This account can’t be used for any other purpose.
- Once you’ve established everything, you need to register the self managed superannuation funds in Liverpool with the Australian Taxation Office.
You would also need to decide where how you’ll end the fund and reinvest the money after you’ve closed it. If you have any question about accountancy, investments, and self managed superannuation funds in Liverpool, don’t hesitate to contact us at Silver & Young Chartered Accountants. You can get in touch with us by giving us a call on 02 9600 7760 or send us an email at email@example.com. You can also fill in this online enquiry form and we’ll reply as soon as possible.