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Self-Managed Super Fund
Oyster Hub empowers families and small business owners to take control of their retirement savings with expert Self-Managed Super Fund (SMSF) services
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Take Control of Your Wealth
elf-managed Super Funds (SMSFs) accounting & taxation can be complex, which is why we offer a range of services tailored to your unique needs and goals.
As leading SMSF specialists, Oyster Hub provides comprehensive support for your Self Managed Super Fund. We’ll guide you through setup, ongoing administration, and ensure compliance with all ATO reporting obligations. We also prioritise educating you on your trustee responsibilities.
With Oyster Hub, you can trust that your SMSF is in good hands.
What We Offer
We’ve walked in your shoes as small business owners, so we understand the unique hurdles you encounter on your path to growth. Here’s how we can help your business.
How It Works
Onboarding Meeting
The client’s manager holds an initial meeting with the client to understand their needs and finalise the onboarding of the client
Proposal Submission
After the meeting, our team sends a detailed proposal to the client, outlining the outstanding jobs and all compliance requirements.
Job Allocation
Once the client signs the proposal, the jobs are entered into the system and allocated to team members for processing.
Review and Finalization
After completion, a meeting is booked with the client to review the final deliverables before lodging or closing the project.
Why US
Why Choose Oyster Hub Wizard Accountants?
At Oyster Hub, we specialise in resolving your accounting and financial issues, going beyond compliance to provide strategic advice and support. Our expert accountants will help you overcome hurdles, unlock your full potential, and achieve lasting financial success.
Our team of dedicated professionals is here to provide effective solutions for all your needs. Whether it’s negotiating your tax debt or navigating the complexities of tax forms, we’ll help you tackle your problems head-on and deliver results that exceed your expectations.
We've Helped Over 100 Clients
Frequently Ask Questions
How does Oyster Hub help me set up my Self-managed superfund?
We can help ensure your company’s financial health and tax compliance with our comprehensive Company Tax Returns service. Our tax accountants specialise in preparing and lodging business tax returns, ensuring your company tax return is accurate and optimised for your specific business needs. We maximise deductions and minimize your tax liability, so you can focus on running your business with confidence.
Here’s is how we can help you set up your Self-managed superfund:
- SMSF Trust Deed
- Appointment of Trustee Documents
- Trustee Declarations
- SMSF TFN Application
- SMSF ABN Application
- Resolution Minutes for Establishment
What is a self-managed super fund (SMSF)?
A SMSF is a private superannuation fund, regulated by the Australian Taxation Office (ATO) that you manage yourself. SMSFs can have up to four members. All members must be trustees (or directors, if there is a corporate trustee) and are responsible for decisions made about the fund and compliance with relevant laws. Set up costs and annual running expenses can be high, so it’s most cost-effective if you have a large balance.
How do self-managed super funds work?
An SMSF is a legal tax structure whose sole purpose is to provide for your retirement. SMSFs operate under similar rules and restrictions as ordinary super funds.
Here’s is how we can help you set up your Self-managed superfund:
- carry out the role of trustee or director, which imposes important legal obligations on you
- set and follow an investment strategy that is appropriate for your risk tolerance and is likely to meet your retirement needs
- have the financial experience and skills to make sound investment decisions
- have enough time to research investments and manage the fund
- budget for ongoing expenses, such as professional accounting, tax, audit, legal and financial advice
- keep comprehensive records and arrange an annual audit by an approved SMSF auditor
- organise insurance, including income protection and total and permanent disability cover for super fund members
- use the money only to provide retirement benefits.
Important
If you decide to set up an SMSF, you are personally liable for all the decisions made by the fund – even if you get help from a professional or another member makes the decision.
What happens to my self-managed super fund if I'm bankrupt?
By law, if you or another trustee of your self managed super fund becomes bankrupt, that person can no longer remain a trustee, director or member of the super fund. SMSFs have a 6-month grace period to remove the bankrupt trustee and make arrangements to deal with their super assets.
If you are the only member of your SMSF, a new director will need to be appointed to manage the fund on your behalf while you are disqualified.
Seek legal advice about the actions you need to take to deal with bankruptcy and your SMSF.
What are some of the questions I should ask before setting up my self-managed super fund?
Before setting up an SMSF, ask yourself
Have you considered other do-it-yourself (DIY) super options?
Many professionally managed super funds have DIY investment options which let you choose specific assets, such as shares, exchange traded funds and term deposits. This gives you some control over your investments without the legal and administrative responsibilities of running an SMSF.
Have you considered other super funds or investment options?
If you’re thinking about setting up an SMSF because you’re not happy with your current fund or the way your money is invested, consider changing to another fund or investment option first. See choosing a super fund.
Will your self-managed fund outperform your current fund?
Super funds use highly skilled professionals to invest your money. Will the investments you choose perform better than your professionally managed super fund? Are you confident you can accurately measure returns?
Have you considered the costs?
Like all super funds, SMSFs have costs associated with running the fund, including investing, accounting and auditing. If these costs are high they could have a significant impact on your retirement lifestyle.
Community Impact
Oyster Care is a registered NDIS provider employing over 300 employees across NSW.
Oyster Tribe is a registered Aboriginal corporation working towards closing the gap, focused on regional development.
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Regional Office
99 Wingewarra St, Dubbo NSW 2830
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We acknowledge the Traditional Custodians of the land on which our office stands and pay respects to Elders past, present and emerging.
We also acknowledge the Stolen Generations and are committed to assisting them on their journey.
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