A self managed super fund (SMSF) is a small superannuation trust that has the primary purpose of providing retirement benefits to the members, where the members themselves act as trustees. This means that the members control and run the super fund.Generally, a self managed super fund is defined as a superannuation fund where there are less than five members, all the members are trustees, and no trustees receive any remuneration for their trustee services. MW Partners (in conjunction with a licenced financial planner) can set-up a complying SMSF for you and will ensure that your new SMSF is up and running as soon as possible without any fuss.All SMSF trustees are required to have financial statements prepared, lodge income tax & regulatory return and other relevant statements with the Australian Taxation Office annually.The trustee must ensure the SMSF is audited each year by an approved auditor. The audit covers both financial statements audit and compliance audit. The findings of the audit must be reported on the income tax & regulatory return. MW Partners can provide you with all of the above services, which includes the compilation of a full set of financial statements, preparing the income tax & regulatory return, other relevant statements and audit of self managed super fund. Our team are qualified accountants with specialist knowledge, expertise and skill in self managed super funds.
