Self Managed Superannuation Funds (SMSF)
Self Managed Superannuation Funds have grown to be an important part of our business.
There are essentially three components to provide a comprehensive Self Managed Super Fund Service - Administration, Audit and Advice.
Cormack and Company is able to provide specialised administration services to handle superannuation funds both at accumulation stage (while you work) and during retirement. As audit of super funds is mandatory, we are also able to provide access to a comprehensive audit service. Finally the advice role can be provided through our qualified financial planners.
The advice which may be necessary includes binding and/or non-binding nominations, insurance requirements for members, super contributions guidance, transition to retirement pensions, account based pensions, age pension planning, investment selection and instalment warrants (borrowing through super). While Self Managed Super Funds can invest in a wide range of assets (real estate, shares, fixed interest, cash), a greater responsibility is put on you as the trustee to comply with the legislation and expert advice is essential. As annual costs are typically over $2,000, a fund would normally need to be over $200,000 to make this an economic alternative to industry/retail funds.