Who Needs Self-Managed Super Fund Accountants?
According to the latest ATO statistics, there are nearly 600,000 self-managed superannuation funds in Australia, with over 1.1 million members and assets approaching $790 billion. On average, each member has almost $700,000 in assets. The median is $415,000.
It can be a considerable challenge for SMSF trustees to manage these assets, make the right investment decisions, update their investment strategy, and comply with all the laws and regulations set out by the SIS Act, the ATO and ASIC.
No wonder self-managed super fund accountants and advisers are in demand! Even the ATO recommends that trustees seek professional advice.
And if you are an SMSF accountant or adviser, especially if you have several client funds, you need time to give proper financial and investment advice to each one. You don’t want to be distracted by day-to-day administration and taxation issues – but you cannot risk having clients make mistakes and fall foul of any laws or regulations.
The question is, which accountant is best for the administration of your self-managed superannuation fund?
What should you be looking for?
There are many good reasons for you to select SMSF Engine as your self-managed super fund accountants.