Self-managed super funds

Self-Managed Super Funds Perth

Superannuation funds and self-managed superannuation funds are among Australia’s most tax-effective investment structures. And the tax law surrounding how to minimise your tax obligation within your SMSF legitimately is complex and needs proper planning and strategy.

At Westcourt, our SMSF tax strategy, administration and structuring work is an integral part of many successful families in business – from succession, tax minimisation, and tax compliance.

Importantly Westcourt does not offer investment product advice. By remaining independent, we can give full strategic advice without any potential conflicts or concerns about the strategy not fitting in within a particular investment platform. This independence allows business-minded families to invest in direct real estate or alternative investments like cryptocurrency. And it also means that, as a firm, we are more than willing to work with investment professionals and financial planners who are focused on generating the best investment returns for their clients without also focusing on tax strategy.

Further, our deep knowledge of the Small Business Capital Gains Tax Concessions also allows us to leverage opportunities to maximise superannuation fund balances for clients selling their businesses. The knowledge of tax law has allowed families to get their superannuation fund maximised without having penalty taxes.

And as an independent practice, we also engage with a local registered SMSF auditor who is not part of our business. The SMSF is most likely to comply with the ATO laws and reviews.

At Westcourt, we excel at helping people who have made decisions and clearly understand what they are looking for. The exact position applies to people trying to know how much they need to save for retirement. At Westcourt, we have relationships with investment advisors, from family private office advisors to generic financial planners who are happy to help families with lower-sized balances. Issues like accessing the aged pension are essential.

And we do this independently – no commissions, no “in house” advisors creating conflict, no commission like fees, no spotter fees and no referral payments.

If you are unsure if an SMSF is suitable for you – you should talk to an investment advisor or a financial planner. There are a lot of superannuation funds out there that are worthwhile. Likewise, an insurance broker or financial planner should be engaged to consider the best life insurance and risk policies for your family.

You should choose Westcourt to manage and structure your SMSF because:

We leverage technology through the leading edge BGL platform, Australia’s most commonly used platform (and independent of an investment group).
Our senior tax leadership role within the Tax Institute has powered our SMSF knowledge within the practice and highlighted structures and solutions we can present to clients.
We manage some substantial funds with assets over $80m, showing our technical skillset for complex, high-value clients.
We are one of the few accounting firms that are not entering into investment advisory, life insurance and mortgage broking.
Our connection with the GGI Global Alliance Network allows us to facilitate and manage assets globally through on-the-ground advisors worldwide.
We have dedicated SMSF specialists and property specialists to assist.
Our connection with NowInfinity means that we can create SMSFs in under a day (when urgent and subject to other client matters).

Frequently Asked Questions

Does my SMSF need a will?

Yes, it is generally recommended that your self-managed superannuation fund (SMSF) have a will in place and is part of your broader estate plan. A will is a legal document that sets out how you would like your SMSF assets to be distributed in the event of your death.

The SMSF trust deed may set out the default provisions for distributing the SMSF assets, but these provisions may not be in line with your wishes, and a will provides a clear and specific direction for the distribution of your SMSF assets.

It’s important to note that the will for your SMSF is separate from your personal will, and it is recommended that you seek professional advice from a solicitor to ensure that your SMSF will is legally valid and meets all of your specific needs and requirements.

Having a will in place for your SMSF can help ensure that the SMSF assets are distributed in accordance with your wishes, and it can help avoid disputes and confusion in the event of your death. Additionally, having a will in place can help ensure that the SMSF assets are transferred to the intended beneficiaries in a tax-effective manner, which can help minimize the impact of taxes and fees on your SMSF assets.