Self-Managed Super Funds
The benefits of self-managed super funds (SMSFs) can include greater freedom and the flexibility to choose your own investments, plus significant tax benefits and greater control over estate planning.
But SMSFs come with additional responsibilities, such as reporting obligations and industry regulations that must be adhered to, so consulting an SMSF specialist lawyer is imperative when setting up an SMSF.
How we can help
Our SMSF specialists are highly experienced in SMSF setup and management. We work with a broad range of clients from some of Australia’s largest family groups, high net worth individuals, business owners, young families and people moving towards retirement.
We regularly liaise with regulators on behalf of our clients and advise on all types of issues, including SMSF tax returns, dispute resolution and succession issues. Our SMSF specialists work with our private client advisers to provide a wholistic approach to wealth management and estate planning. Our vast experience gives us practical insight into the real issues, concerns and needs that arise at different stages of life.
Our SMSF lawyers advise on an all aspects of establishing and managing a SMSF, including:
- operation and structure (including establishing, reviewing and amending governing rules of SMSFs).
- compliance and regulatory matters.
- contribution and benefit payment strategies.
- pension strategies, including the commencement and administration of pensions.
- tax issues, including liaising with the Australian Taxation Office regarding disputed assessments.
- enforcement action by the Australian Taxation Office, including penalties and disqualification of trustees.
- investments, including the acquisition and disposal of property, structuring, borrowing and regulatory issues.
- matters arising at audit and the rectification of errors.
- self-managed superannuation fund disputes at the Supreme Court.
- AFCA disputes.
- family law issues affecting the superannuation entitlements of members.
- succession issues and planning for the disposition of death benefits.
- death benefit nominations and payments.
- insurance.
Our self-managed superannuation fund experience
- Advising members and trustees in respect of joint venture developments within SMSFs (along with SMSF participation in other property development arrangements).
- Advising members and trustees on compliance, including in relation to investments structures such as limited recourse borrowing arrangements, unrelated unit trusts, ungeared units trusts, pre-1999 unit trusts and private companies.
- Assisting members and trustees in dealing with the ATO, including with voluntary disclosures and obtaining private rulings and SMSF determinations.
- Advising clients in respect of trust law issues, interpretation of fund governing rules and general fund administration issues.
- Assisting clients with binding nominations, enduring powers of attorney and other tailored succession planning documentation.
- Challenging and defending superannuation disputes, in both the Supreme Court and AFCA, including in relation to death benefits.
