Self Managed Super Fund Trustee Health Check

As a business owner, are you making the most of your Self Managed Super Fund? Could your fund be non-compliant?

Complete the short checklist below to find out:

Opportunity Checklist

YES

Have you explored ALL opportunities available to business owners through a SMSF?

Is your SMSF structured to protect your business, family and income?

Are you confident in your own investment ability to protect and maximise your retirement income?

Are you confident that all your investment assets are appropriately structured given the tax benefits and asset protection benefits a SMSF can offer you?

Compliance Checklist

YES

You are responsible and accountable for your SMSF. Do you know and understand all the contents of your trust deed in detail?

Has your trust deed been updated since 2006 to reflect recent changes in superannuation law? If not, this may limit the effectiveness of your SMSF.

Are the fund's assets kept separate from members , trustees and related employers, and are all investments recorded with both trustee and fund name as required?

Have you ever used the fund's assets for business or personal use? If you are unsure, you may have breached the Sole Purpose Test.

Are your investment strategies reviewed at least annually? Does the fund have a documented medium to long-term investment strategy to ensure its compliance status and concessional tax eligibility?

Do you have sufficient controls to ensure that you do not breach amended contribution limits and incur penalty tax?

Have all the mandatory financial records and meeting minutes been recorded appropriately and kept for the time period specified under super law?

If you've answered NO or are unsure about ANY of the above questions, your SMSF should be reviewed.

SMSFs are capable of doing a lot more than just helping you save for retirement. The Guild Group has worked with small business owners for almost 50 years and our specialist team can identify new strategies to help save tax and structure your assets to help reduce costs and maximise your estate plans. You can choose one or more of our specialist advice, legal and accounting services.

Contact Guild Financial Planning for a FREE initial consultation or brochure by completing your details, and clicking on the SUBMIT button below.

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For more information call 1800 333 143.

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