As a business owner, you know that choosing the Adelaide Tax Accountant right accountant is critical to the success of your enterprise. The same is true when you are setting up a self-managed super fund (SMSF). While there are a number of DIY options available when it comes to setting up an SMSF, it is generally advisable to seek professional help from an SMSF accountant. Here are seven reasons why choosing the right SMSF accountant is so important.
They will ensure your SMSF is compliant
The Australian Taxation Office (ATO) has strict rules and regulations regarding SMSFs. This is to ensure that SMSFs are operated in the best interests of members and that they comply with superannuation laws. An experienced and reputable SMSF accountant will have a thorough understanding of SMSF compliance and can help you to set up and operate your SMSF in line with ATO requirements.
They can provide advice on SMSF strategy
Choosing the right SMSF accountant doesn’t just mean choosing someone who is compliant with ATO regulations. You also need to choose an accountant who can provide you with advice on the best SMSF strategy for your individual circumstances. This might include advice on how to invest your SMSF funds, how to make sure your SMSF is tax effective, and how to minimise the fees you pay on your SMSF.
They will save you time
One of the biggest advantages of working with an SMSF accountant is that they will save you time. Setting up and running an SMSF can be a time-consuming and complex task. By working with an SMSF accountant, you can free up your time to focus on other areas of your business.
They will save you money
Another big advantage of working with an SMSF accountant is that they can save you money. An SMSF accountant can help you to minimise the fees you pay on your SMSF and can also provide you with advice on how to invest your SMSF funds in a tax-effective way.
They will provide peace of mind
When you work with an SMSF accountant, you can have peace of mind knowing that your SMS