In Australia, those who have self-managed superannuation funds (SMSF) are responsible for their compliance with the relevant tax and auditing financial reporting laws.
Doing your own SMSF administration is possible, but it takes a lengthy amount of research, effort, and time. This system can often be quite complicated, so it can be beneficial to have an SMSF accountant help you to navigate through these complexities.
An accountant that’s an SMSF specialist is equipped to take care of it on your behalf. Thanks to their expertise and experience, a professional can help you optimise the overall value of your fund.
Our SMSF accountants in Sydney will manage the history of your super fund. This process entails looking at what has been done in the previous financial year and using those insights to lodge tax returns and keep records in the future.
A Sydney SMSF accountant can also provide professional guidance on maintaining complex compliance, tax matters, and even your business structure. Our team at KNS adopts a personalised approach to all self-managed superannuation funds. Part of our Sydney SMSF service is the way our experts consider your financial circumstances in order to suggest the best tax strategies for your needs. In turn, this helps help you reach your future financial goals.
Here are the benefits you can expect when you employ the services of SMSF accountants:
Hiring an approved Sydney SMSF auditor can help you to avoid legal repercussions if any mistakes are made. If you slip up and lodge your tax return for your fund incorrectly, even if it’s just a simple error, this can result in legal consequences such as penalties and fines.
Sydney superannuation laws can be intricate. Without coming from a finance or accounting background, the extensive rules and regulations, exceptions to the rules, and tax laws can be a lot to juggle. As an individual, you certainly can succeed by taking the time and learning the ins and outs by yourself, but consider the following factors:
We are an accounting firm that specialises in SMSF administration. Our team is equipped with all the qualifications and skills to oversee the legalities. We are certified tax agents and have ample experience administering clients throughout this field.
If you have industry or retail funds, you can benefit from having it all maintained for you. All you need to do is go online and enter your details, then wait a few days and it will be set up.
Setting up your own fund, in contrast, has more admin involved. It’s crucial that it’s set up correctly so that it will qualify for tax concessions and to receive contributions. It must also be straightforward to administer.
One of our SMSF accounting experts in Sydney can assist in this regard. We can advise you on issues surrounding:
You can be a trustee yourself, or you can choose to have a corporate trustee for the fund. Whichever you choose, the fund remains your responsibility. Although it can be appealing to control your own super, there is a significant amount of work involved – including risks. If you want to set up an SMSF, make sure that you are 100% committed and understand what’s involved, including managing SMSF assets.
At KNS Accounting, we care about each client, their personal situation, and their goals for their financial future. We offer guidance and solutions and ensure that you understand everything and know that we’re working in your best interest.
Our Sydney professionals specialise in tax-effective SMSF accounting. Our wealth of experience means we can provide strategic advice to assist you in achieving the best possible outcome. Our Sydney SMSF experts aim to increase your wealth creation and decrease your losses, expenses, and how much tax you’re paying.
Plus, all of our highly trained professionals have specialist knowledge ready to be used, and can provide guidance on your investment strategy. We can also make changes that can optimise your strategy for the best possible results.
Our specialist team provides expert information drawn from facts that are based on the most recent legal developments in the super industry. We are committed to keeping you up to date so that you can respond quickly if there are changes in the regulatory environment.
KNS Accountants in Sydney are full-service business advisors with a passion for providing solutions regarding self-managed super funds. Whether you’re a novice wanting to set up your account from scratch or you’re a seasoned investor needing mentorship, an SMSF accountant in Sydney will provide quality service and add exceptional value.
If you need help with the entire setup, tax returns, or with managing your fund, contact our Sydney SMSF accountants today, and we’ll set up a consultation.
KNS Accountants and Business Advisors is a full-service accounting firm that has been serving the Greater Sydney Area for over seven years.
We have three convenient locations in Penrith, Parramatta, and Blacktown, and our team of experienced professionals offers a broad range of services, including auditing, tax filing, financial planning, self-managed super fund tax advice and retirement planning.
Our certified practising accountant team pride themselves on providing personalised service and customised solutions to meet the unique needs of our clients.
Whether you are a small business owner, property investment executive, or sole trader, we have the knowledge and experience to help you achieve your financial goals.
Riya is the newest addition to the KNS team and looks after bookkeeping and administration for us. She is currently completing her Bachelor of Professional Accounting degree from Macquarie University, and is aiming to pursue her career as a forensic accountant when she graduates.
She is also a certified Xero and Quickbooks advisor.
When Riya isn't studying or at work, you can find her binging on Netflix!
Simrani joined the KNS family in July 2020. She’s currently studying at Macquarie University and has aspirations to be a property tax specialist in the future!
With a passion for investing in property, shares and crypto, Simrani keeps up-to-date with the latest market trends. Simrani takes care of all bookkeeping, individual tax returns and is a certified Xero and Quickbooks advisor.
In her spare time, she loves organising events for the team like monthly drinks and weekends away
Abigail has been part of the KNS family since July 2019, and she’s a force to be reckoned with. She joined the KNS team as an intern before becoming an intermediate accountant, specialising in SMSF, SMEs and cashflow forecast.
Abigail holds a Bachelor of Accounting degree from the Universal Business School in Sydney and she’s currently pursuing a Master’s degree in Business Administration majoring in Accounting. She is also a certified Xero and Quickbooks advisor.
She loves baking and travelling – but most importantly, she is a mother of one.
Raj has been a public practicing accountant for the last six years and has over ten years of experience in the corporate world. He possesses extensive knowledge of technology, and specialises in cloud technologies, automation and outsourced CFO services for his clients.
Raj is a member of the Institute of Public Accountants and is a registered Tax Agent with the Tax Practitioners Board. He holds a Bachelor of Business degree from Western Sydney University, Public Practice Certificate and is a certified Xero and Quickbooks advisor.
Raj loves rugby league! He's a big supporter of the Broncos (NRL) team and enjoys watching them play every weekend. When he’s not working or watching NRL, Raj spends time with his family who keep him busy.
Krishan has always enjoyed working in small, boutique accounting firms, but the opportunity to move interstate and work with a regional clientele was too good to miss! Krishan offers over a decade of experience across the world of accounting, specialising in SMEs, capital gains tax and self-managed superannuation funds.
Krishan is a member of the Institute of Public Accountants, a registered Tax Agent with the Tax Practitioners Board and an ASIC-registered SMSF Auditor. He holds a Bachelor of Commerce degree from Macquarie University, Public Practice Certificate and is a certified Xero and Quickbooks advisor.
He loves being able to help his clients reach their goals by teaching them about what they need to do and offering advice on how they can maximise results. He also enjoys mentoring other accountants so that there is a constant flow of fresh talent entering the industry! Outside of work, you'll find him at F45 training (he’s an addict) or spending time with his two kids.