SMSF Accounting & Advisory
SMSF Advisers and Superannuation Specialists
Superannuation can be a powerful way to save for your future, optimise asset protection and take advantage of tax planning opportunities. It can also be complex and overwhelming, especially if you are considering a Self Managed Superannuation Fund (SMSF). It’s important to implement a strategy that takes full advantage of concessions, incentives and rebates available to you – while ensuring compliance.
At New Leaf Advisory we have a comprehensive, tried-and-tested process for administering Self-Managed Super Funds, having successfully managed hundreds of SMSFs engagements over many years.
We work together with financial planners and investment advisors to review and report on your portfolio returns, providing a strategic viewpoint and a trusted, independent source of advice. For many of our clients, because we are involved in their broader wealth management, we can help ensure that your super is equipping you for the lifestyle you desire, both now and in the future.
SMSF
Self Managed Superannuation Fund Specialists
A Self Managed Superannuation can be a great investment for your retirement, allowing you greater control in determining how your superannuation funds are invested. That said, setting up and managing an SMSF can be a complex process fraught with compliance issues. But it doesn’t need to be complicated…New Leaf Advisory can help.
We provide a comprehensive administration and advisory services to ensure your SMSFs compliance obligations are maintained and you are on track to achieve your financial goals.
The New Leaf Advisory SMSF Process:
1
Consultation
Before setting up an SMSF, we consult with you as an RG146 qualified, licenced advisor to help you decide if an SMSF is the right decision for you. We have also built a network of trusted professionals in this area who are experienced in working with other advisers to support you in making the right decision (i.e. financial advisers).
Execution
Upon conclusion of advice, we can assist with the administration services needed to set up and maintain your SMSF including: Preparation and lodgement of financial accounts such as income tax returns, business activity statements (BAS) and SMSF financial accounts, superannuation audits and regulatory reporting
Monitoring
Since we continuously monitor changes to superannuation legislation, taxation obligations and regulations, we can provide ongoing advice on SMSF compliance matters to ensure you to make informed decisions.
Authorised Representative
Our Director, Patrick McStay is an Authorised Representative (001252275) of the SMSF Advisers Network. As such, he can provide advice specific to SMSFs and superannuation. Patrick is available to advise clients on setting up SMSFs, rollovers, contribution strategies, pensions, limited recourse borrowing arrangements (LRBAs) and class of asset investment strategies and he can explain it all in easy to understand terms. To find out more about the SMSF Advisers Network, please visit www.smsfadvisersnetwork.com.au
Our SMSF Services
How our SMSF specialists can help
Superannuation planning
Compliance management with the SIS Act
Oversight and management of audit requirements
Performance reporting
Establishment of an SMSF
Contribution and pension advice
Transaction advice including limited recourse borrowing arrangements
Wind down, rollovers and exits
SMSF Advisory Case Study
Who we’ve helped
Turning a New Leaf – Navigating Non-Compliance and Mismanagement
Situation
When approching New Leaf, the client was in extreme distress due to their previous accountant mismanaging fund records, information, accounts, audit and tax returns. This mismanagnment resulted in errors in the preparation of financial records and years of overdue tax returns being urgently chased by the ATO. In addition, the client had family law issues involving another member of the fund which were seemingly too difficult to address without significant distress to both members.
Process
We met with the client to clearly understand their current position prior to the transition of engagement. Once an in-depth understanding was obtained, we provided a clear plan to resolve their administration dilemmas, before they formally engaged us as their tax agent. Thereafter, we followed the plan through to completion and established processes to maintain their affairs.
Results
- For the first time in years, the Fund is fully compliant with SIS and the ATO requirements
- Early engagement and clear communications with fund auditors and ATO resulted in extensions of time for taxpayer and ability to carefully address compliance issues
- Multiple years of outstanding fund audits completed and enabled maintenance of pension status for client resulting in significant tax savings ($10,000s+)
Read More Results
- Established a process for ongoing provision and oversight of fund affairs, now management reporting is up to date and available for client reference on a quarterly basis
- Provided a corporate restructuring alternative to the fund enabling successful division of members interests, permanently resolving a basis of conflict with the fund affairs
What the client said
“After experiencing an extremely stressful time with my previous accountant, I was cautious to make a transition with my affairs in such disarray. However, I was referred to New Leaf who had previous dealings with my son, they provided me with a clear plan, in advance of making the decision, and once I did, they delivered upon exactly what they promised. Within a few months of moving to New Leaf, my affairs were brought up to date and are now I am back in control. They did an extremely good job.”