Everything about SMSF accountants

26/set/2014 07:38:57 press Contatta l'autore

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Before discussing on the topic of SMSF accountants, it is important to understand the basics of SMSF. The term SMSF, which is an abbreviation of self managed super fund is becoming very popular these days. It is something that is similar to superannuation funds. It is usually believed that such types of funds are great ideas for saving money for the future. However, in spite of the same aim behind the superannuation funds and the SMSF, there are a few basic differences that help us in distinguishing between them. The SMSF, is a type of saving plan that helps in people in securing the times where there will be no source of income and nor the capability to earn a living. One such time is retirement. For all those people who completely depend upon the pension that will be given to them by the government, these types of plan prove to be a boon.

In an SMSF, the fund member gets the benefit of staying the beneficiary as well as the trusty at the same time. Due to this, they get the freedom of managing their fund as per their convenience and for their benefit. It is important here for the fund manager to abide by all the rules and regulations that are implied by the Australian taxation office on these types of funds. There are a lot of big and small companies that are associated with the SMSF. They also act as agents and accountants for all those people who are less aware of the topic but still want to invest in this type of deal. All the records, audits and reporting are handled by the firms and companies that provide the services of SMSF accountancy. However it is important for all these organizations to work under the compliance of the Australian taxation office without showing any negligence or rules abortion.

It is important to understand that the SMSF fund is taxable. Every income that is made by the individuals with this fund is taxable up to 15 percent. However, this only happens when the rules and regulations made by the Australian taxation office regarding the compliance and other factors are sincerely followed. 

Since the topic involves some level of complexity it is advisable to work with the help of professionals and SMSF accountants in order to keep your money safe and growing. This assistance encourages the small businesses to concentrate better on their business plans. By entrusting the task of tax planning to the knowledgeable tax accountants Sydney, they can save greater time to concentrate on the business growth.

Platinum accounting solutions is one of the most reputed and trustworthy accounting solutions providers. We aim at helping all the businesses save all the extra and unwanted expenses thereby helping you move towards a way where your profit figures constantly rise. In order to know more about us, give us a call at 028-060-5795. 

Platinum Accounting Solutions 

Suite 104, Level 1, 161 Walker St, 

North Sydney NSW 2060 

Tel: (02) 8060 5795 

E-mail: info@pasaccountants.com.au 


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