Superannuation Services

Superannuation services

Superannuation Services

We provide taxation advice in relation to superannuation matters, such as:

  • Information on contribution caps and monitoring contributions. There are different types of contributions, including:
    • Concessional
    • Non-concessional
    • Downsizer contributions
    • Personal injury payments
    • Re-contribution of COVID-19 early release super amounts

      Caps vary depending on the age of the member and their total superannuation balance.

  • Advice regarding the eligibility for spouse contributions, co-contributions and splitting contributions.
  • Excess contributions charges
  • Div 293 tax calculations. Div 293 is an additional tax on super contributions made in a particular financial year for high income individuals and brings the super tax concessions back in line with the average.
  • Assist with rollovers to and from other superannuation funds.
  • Assistance with setting-up limited recourse borrowing arrangements (LRBA’s) together with your legal and financial adviser. Single acquirable asset rules.
  • Inform members of when they have met a condition of release. Including their preservation age
  • Monitoring member balances to ensure compliance with transfer balance caps (TBC’s). TBC’s limit the amount of a member’s balance that can be transferred to a tax-free retirement account.
  • Ensuring SMSF assets are valued at market value as required by the SIS regulations.
  • Calculation of minimum and/or maximum pension calculations each year. Pension benefits vary depending on the type of pension held along with the financial year.
  • Terminal illness, disability and death benefit taxation calculations.
  • Bankruptcy and winding up of superannuation funds
  • Superannuation splitting after divorce and family settlements
  • Where necessary appointing an actuary to calculate the exempt pension income
  • Preparation of the annual financial statements which generally includes
    • Statement of Financial Position (summary and detailed)
    • Operating Statement (summary and detailed)
    • Members Statements which includes:
      • Total member balance (per member account)
      • Breakdown of member preservation and tax components
      • Contributions
      • Transfers in/out
      • Net earnings
      • Benefits paid
      • Taxes payable
    • Trustee Declaration
  • Appointing an approved SMSF auditor.
  • Calculations of capital gains tax (CGT) discounts including small business CGT concessions and small business retirement rollover concessions.
  • Preparation of the annual income tax and regulatory return.
  • Preparation of business activity statements and instalment activity statements.
  • Assistance with the winding-up process of the SMSF along with the tax implications.
  • Liaising with legal and financial advisers.
  • Notifying the ATO of any changes to the SMSF.
  • Setting-up and registering the SMSF including (together with your legal and financial advisers)
    • Requesting the trust deed
    • Tax file number (TFN) application
    • Australian Business Number (ABN) registration
    • GST registration (if applicable)
    • Electronic Service Address (ESA) registration
  • Review of the sole purpose test on a yearly basis, advice regarding the duties of trustees (SIS regulations).

Note that DKP & Co Chartered Accountants do not offer financial advice.

Fill in the form on the right, email or call (03) 9023 9370.