Fixed fee: $1200 + GST including Audit
About SMSF Mantra
SMSF Mantra is an accounting firm that specializes in SMSF administration. With SMSF Mantra, you can cost-effectively establish and administer a SMSF. An SMSF allows you to take back control of your superannuation – by allowing you to be directly involved in the investment decisions of your SMSF. Our motivation for starting SMSF Mantra was to create a low-cost, high-quality SMSF administration provider which would make it affordable for everyone to take back control of their superannuation. Who we work with: In order to provide our clients with a streamlined and secure service, SMSF Mantra partners with some of Australia's leading financial institutions and technology providers BGL : Intelligent, cloud-based SMSF software to streamline SMSF compliance management and administration. Macquarie...
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Simple setups to get started with the SMSF Expert
Contact us via Message or Phone Call
Contact us via phone call or message to discuss topics related to SMSF, including SMSF structure, investment types, and platforms.
Onboarding
We collect all necessary paperwork from you or your former accountant to set up your SMSF.
Administration
We import transactions and generate reports using BGL 360, creating audit-related documents like tax returns and financial statements.
Signing the Documents
After completing the necessary work, we will request electronic signatures from each member, which will be sent to a third-party auditor for an independent audit.
Finalisation
Once the audit is complete, we file the SMSF's tax return.
Frequently Asked Questions
Members of SMSFs have exclusive control over their investments within the law. The maximum amount of tax on earnings is 15%. With the control that SMSFs provide over asset disposal timing, gains can be delayed until assets are supporting an Account Based Pension, at which point the income is taxed at 0%. Up to 100% of the total assets of the fund may be invested in "Business Real Property" by SMSFs.
No, it is capital in nature.
All investments by your SMSF must be made on a commercial ‘arm’s length’ basis. The purchase and sale price of fund assets should always reflect true market value, and the income from fund assets should always reflect a true market rate of return. Generally: you can't buy assets from, or lend money to, fund members or other related parties (there are some exceptions to this rule) your fund can't borrow money.
If you don't comply with the investment restrictions we may impose significant penalties, including disqualifying you as a trustee and even prosecution. It's a good idea to speak to an SMSF professional to make sure your investments comply with the law.
An in-house asset is any of the following: - a loan to, or an investment in, a related party of your fund - an investment in a related trust of your fund - an asset of your fund that is leased to a related party. There are some exceptions, including: - business real property that is leased between your fund and a related party of your fund - some investments in related non-geared trusts or companies. In-house assets can't be more than 5% of your fund’s total assets.
It's important for all funds to have an exit plan in place even if you're not ready to wind up now, as this will make it easier when the time does come. Your plan should consider all the circumstances of your members and be signed off by all trustees. You should also keep this plan with the fund's records. Make sure you review your exit plan regularly, assess your fund and each member's circumstances to decide if an SMSF is still right for you. You may want to speak with an SMSF professional to help you decide.