Introduction to Superannuation

Superannuation is a tax structure which is an investment vehicle rather than an asset class. Superannuation has its own set of special rules which are detailed in the Superannuation Industry Supervision (SIS) Act 1993. Superannuation will form a larger portion of the post retirement income of many Australians. The federal government continually refines the superannuation environment and legislation to ensure it remains effective and relevant.

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Self Managed Superannuation Fund(SMSF)

Self Managed Superannuation Funds (SMSF’s) allow you to take control of your investments. Furthermore, with tax incentives such as tax minimization, SMSF’s have become increasingly popular in recent years.

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Superannuation Services Gray Accountants can assist you with the following superannuation services:

• Set up and manage the administration, reporting, and compliance duties for your SMSF
• Advice on SMSF Corporate Trustee or Individual Trustees
• Lodgement of relevant documents with the Australian Taxation Office and other regulatory bodies
• Provide advice on the concessional and non concessional Contribution cap (age based limit)
• Prepare minutes and necessary documentation to commence an account based pension
• Auditing Self Managed Superannuation Funds
• Investment restrictions for Self Managed Super Funds
• Borrowing rules and restrictions
• In house asset rules
• Superannuation Guarantee Charge Act 1992
• Superannuation Industry Supervision Act 1993 and related legislation
• Government Co-Contribution
• Superannuation for self employed