Is it true that the younger generation particularly in the thirties and early forties lives in the present and does not worry about what the future holds? Slowly but surely they too have started thinking about investing for the future. With growing uncertainty about employment and income they too are becoming more savings oriented. A thought of preparation for retirement life has started taking root. If they search for experts, they will be advised to invest their savings in the self-managed superannuation funds in Prestons. Undoubtedly, it is rated as one of the most secure funds to invest for retirement savings.

The professionals at Silver & Young Chartered Accountants are well known for their expertise and accumulated experience in providing assistance to set up a SMSF and maintain it. Our advisory services are focussed on helping the fund investors to arrive at a well thought out decision about financial safety in future.

Know about Self-Managed Superannuation Funds in Prestons

• If you scrutinise and compare various investment options, SMSF will strike you as one of the best investment vehicles on various counts
• When you invest in this fund, you retain control of your investment
• It also assures healthy returns and ranks high among secure funds
• It enables tracking of your investments as well as matching their performance with the expected results

SMSF fund has one more important advantage. Since it allows a maximum of four trustees, the entire family’s money can be pooled in to this fund and this will augment the resources available for investment in a healthy fund.

Setting up a fund

The flip side of any SMSF in Australia is the starting painful phase that fund setters face. He/she needs to complete the formalities set by the stringent legislation and compliance requirements of superannuation laws. Look at the first few steps outlined by the Australian Taxation Office for setting up a fund:

• Determine which trustee fund members a fund setter wants to include in SMSF.
• Establish a trust and trust deed to be registered later.
• Open a bank account linked to the trust.
• Register the self-managed superannuation funds in Prestons with the ATO.
• Decide the financial schemes for investing savings.

The role that we play in this process

Simply put, you really need a professional’s expertise for SMFS. Our team of qualified professionals fully know the nitty gritty of SMFS. We can set up and establish the self-managed superannuation funds in Prestons for you. We will also provide the following services:

• Annual maintenance work of the trust will cover
• Preparation and lodging income tax returns with the ATO.
• Compilation of the financial statements and reports.
• Ensure that the annual reporting requirements are met
• Annual audits to check that your SMSF meets compliance requirements.

Get in touch with us at Silver & Young Chartered Accountants with your queries. You can call us on 1300 621 884 or contact us via this email at info@silveryoung.com.au. Use our online enquiry form to send us any tax related and Self Managed Superannuation Funds Prestons service queries and one of our experts will get back to you without delay.