SMSF Experts

BrisTax are expert SMSF (Self Managed Superannuation Fund) Accountants.

We provide detailed advice and assistance with setting up, administration and audit of self managed super funds.

In addition to general areas of superannuation and estate planning, such as accounting, administration, taxation, account-based pensions and in-house asset rules, we provide expert advice and services.

Contact us us today to  discuss your SMSF plans.

BrisTax are expert SMSF (Self Managed Superannuation Fund) Accountants.

We provide detailed advice and assistance with setting up, administration and audit of self managed super funds.

In addition to general areas of superannuation and estate planning, such as accounting, administration, taxation, account-based pensions and in-house asset rules, we provide the following expert advice and services:

Formulation of SMSF risk management policy and practices

Binding death benefit nominations

SMSF trust deed reviews

SMSF audits

Taxation provisions applying to superannuation contributions, pensions and SMSF income

Superannuation Industry Supervision Act 1993, and related legislation

Superannuation Guarantee Charge Act 1992

Investment restrictions for super funds

Taxation of SMSFs, approved deposit funds and pooled superannuation trusts

Corporate super fund administration

Structuring a persons estate plan to optimise generational wealth transfers

Corporate fund administration and advice

First class service. Extremely professional and would not hesitate in recommending to all.

Thomas Maher

Why Choose Bristax SMSF Accountants?

Bristax is totally independent.

We act in your best interest. We are not associated with any financial institution or dealer group.

Our fees are fixed and easy to understand.

Some companies initially offer an attractive looking administration rate in order to get you interested, only to add extra fees and charges if you make more than a set number of transactions, or any number of other small print items.

We have the right qualifications and experience.

Because there are many rules and regulations associated with self managed superannuation funds, it’s in your best interest to make sure the people you choose to set up and run your fund have the right qualifications and experience.

We don’t insist that you use any particular bank account or share trading broker.

And we don’t specify the types of investments the fund can have in order to take advantage of our fixed fee pricing.

We encourage you to ask as many questions as you need to.

From time to time you’ll probably have questions about the running of your fund and how the rules apply to various transactions you may want to undertake. We encourage you to ask as many questions as you need to because it helps to make sure that your fund remains compliant and that you get the most benefit from the opportunities that may be available to you. There are no additional fees associated with this service.

Bristax is a CPA (Certified Practising Accountants) Practice.

That means we have achieved one of the highest levels of accounting qualification available in Australia. We are also Registered Tax Agents with the Australian Taxation Office. As well as completing advanced training to attain these qualifications, we must also adhere to an ongoing high level of professional, educational and ethical standards in order to maintain them.

We don’t provide investment advice or receive commissions.

You’ll never have to worry that we’re recommending a particular investment for our benefit rather than yours.

Your SMSF is looked after by highly qualified self-managed super fund specialists.

Our specialisation and qualifications in SMSFs give you the security of knowing that we are experts in our field and have the proper infrastructure, systems and procedures to ensure a high quality of service that offers you value for money.

We service all regions of Australia seamlessly.

By using technology and giving clients access to our secure client portal, we service all regions of Australia seamlessly from our Brisbane office.

Very good experience. Steve was prompt to respond to my initial queries and in organising the appointment. Extremely professional and knowledgeable. Highly recommend.

Aaron Fraser

SMSF Setup & SMSF Administration

SMSF Setup

We can take care of everything from ordering your super fund deed and establishment documents through to investing.

Click here to read our guide outlining how we set up your SMSF ...

1. Order Super Fund Deed and Establishment Documents

  • Bristax will order the super fund trust deed and preliminary establishment documents for the fund. The set up process takes 24 – 48 hours.
  • Once these documents are received they need to be signed by the trustees, witnessed and dated where indicated.
  • The cost of establishment of the super fund is $550 AUD (including GST) for individual trustees.
  • If a corporate trustee is required an additional outlay of $990 AUD is required for a new company.
  • The preliminary costs can be reimbursed by the super fund once the super fund has cash available from rollovers and contributions.

2. Application for Tax file Number, Australian Business Number and Registration with the ATO as a complying fund

  • The super fund needs to register for a tax file number (TFN), Australian Business Number (ABN) and also Register as a complying fund with the Australian Taxation Office.
  • Bristax will attend to this as part of the super fund establishment fee. It can take up to 28 days for the ATO to issue the TFN and ABN.

3. Set up a bank account for the super fund

  • Once the deed has been executed a copy will be provided for you to take to the bank of your choice to set up a super fund bank account.
  • The bank account should be in the names of the trustees as trustee for the super fund. For example John Smith & Jane Smith as trustee for the Smith Family Superannuation Fund.

4. Set up Life Insurance / TPD/ Salary Continuance Policies in the new Super Fund name (if applicable)

You should be aware that once we request the rollover of your existing superannuation policies any life insurance, TPD and salary continuance policies held through the existing fund will be cancelled. Therefore should you wish to continue to hold these insurance policies it is important that these be set up in the new super fund prior to requesting whole of balance superannuation rollovers.

We can assist by providing you with a referral to an independent financial planner who may assist you to select and set up appropriate insurance policies from the outset.

5. Advise Contributing Employers of the details of your new Super Fund

  • You should notify all contributing employers of your new superannuation fund details so that they can commence to pay your superannuation guarantee and any other super contributions into your new super fund.
  • This can be done by completing a super choice form. Please contact us should you require any assistance.

6. Rollover existing Superannuation Accounts

  • Bristax will provide you with the forms and instructions to organise the rollover of your existing superannuation accounts. You will need to provide some supporting documentation to the rollover fund such as a certified copy of your driver’s license or passport.
  • Rollovers can take up to 4 -6 weeks to be processed by the rollover fund.
  • You should also note that rollovers are unable to be requested until the ABN for your self managed super fund has been received from the ATO.
  • Rollovers are generally issued in the form of a cheque which needs to be banked into your super fund bank account.

7. Formulate an Investment Strategy

  • You need to prepare a written investment strategy for your fund and review it regularly.
  • We provide you with a template to assist you in this task. The strategy needs to reflect the purpose and circumstances of your fund and should set out your investment objectives and detail the investment methods you’ll adopt to achieve these objectives.
  • Please contact us should you require any assistance in formulating your investment strategy.

8. Start Investing

  • Once your rollover cheques have been deposited into the super fund bank account it is time to start investing the money.
  • One of the benefits of having your own self managed super fund is flexibility and control around the type of investments your super fund may purchase.For further information on the types of investments your super fund may purchase please refer to the ATO guide ‘Running a self-managed super fund’ or contact our office for further details.

SMSF Administration

If you have an existing SMSF, perhaps you’ve outgrown your current provider or would like the benefit of a fresh approach. When you are ready to make the change, Bristax makes the process of transferring your existing fund a smooth one.

Trustees can rest easy knowing management of your SMSF is in safe hands, thanks to our full suite of administration services, year-end and regulatory work and ongoing advice.

Click to read what's included in our review of your existing fund ...
  • Update of your Trust Deed in Compliance with the Current Legislation
  • Detailed Investment Strategy
  • Investment Guidelines
  • Binding Death Benefit Nominations
  • Pension Strategies and Minutes
  • Compliance Documents for ongoing maintenance of the SMSF
  • Trustees’ responsibilities; and
  • Administration and mailing house functions as detailed below.

Superannuation and taxation laws are complex and constantly changing, so it is critical for the administration of your SMSF to be carried out by specialists like Bristax – able to provide you with up-to-the-minute expert advice and consistent professional support.

We will undertake the following on your behalf:

  • scanning all documents into our electronic document management system for your records and audit purposes
  • maintaining an investment register for listed securities, fixed interest, managed funds, direct property and unlisted assets
  • regular reconciliations of transactions during the course of the year
  • maintaining individual member records including details of contributions, allocation of earnings and benefit payments, member components and preservation components
  • maintaining reserve accounts (if applicable)
  • maintaining multiple member accounts for the same member whether accumulation, or pension, including defined benefit pensions
  • preparation of PAYG payment summaries for pensions (as applicable)
  • arranging tax payments and other associated fund invoices
  • segregation of assets for members; and
  • collection and facilitation of dividend payments; and monitoring of cash balance to ensure sufficient cash to meet SMSF obligations.

Contact us Today!

Online, by phone, or in person. Contact us to discuss your SMSF plans.