There are several laws governing superannuation and the responsibility of ensuring compliance is met rests with the trustee of the SMSF. Before getting started, be sure to research thoroughly, making certain you understand and can comply with the requirements. Click here for an overview of what you need to know before starting a SMSF.

As the trustee of an SMSF it’s important to be aware of the obligations and responsibilities required of you. There are often updates to the laws, hence it’s essential to keep abreast via the ATO website. Click here to read through the details on what you need to know before getting started. Click here for key messages for trustees of SMSF.

Backed by professionals with collectively over 120 years’ of experience, Cornerstone offers a premium service for the administration and strategic advice of SMSF’s. Cornerstone has become a trusted resource for Accountants, Financial Planners and SMSF trustees and they are proud of the longstanding professional relationships built with their clients. Collectively, Cornerstone bring an extensive range of knowledge across the Superannuation and Accounting field and hence they can support you during any stage of the SMSF journey.

Contribution caps are indexed annually. Should your total contributions exceed the caps within a year, you may be liable for additional tax on the excess contributions. Click here to read about contribution caps.

You can access your Super when you turn 65 years. There are however a limited list of circumstances where you may access your super early. Please click here to read more about accessing your Superannuation.

Before winding up your super fund, you will be required to ensure all reporting and administration responsibilities are met. Some of these obligations include arranging the final audit, ensuring all assets have been dealt with and reporting and outstanding liabilities are completed. Click here to learn more about winding up your SMSF.