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50% off Your Annual SMSF Accounting and Taxation @ Beyond Taxation (Value at Least $1,000)

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50% off Your Annual SMSF Accounting and Taxation @ Beyond Taxation (Value at Least $1,000)
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AssociatedLBeyond Taxation on 18/07/2019 - 15:16 beyondtaxation.com.au (122 clicks)
Last edited 18/07/2019 - 15:36 by 1 other user

Offer: 50% Off Your Annual SMSF Accounting @ Beyond Taxation (value at least $1,000)

We have an amazing hot offer for savvy people who want to reduce the cost of their annual SMSF Tax Return Accounting.

You can get 50% off your first year’s SMSF accounting fees. (SMSF accounting normally starts from $2,000+GST per year)

This offer is limited to the first ten people only.

We are a CPA Practice and certified SMSF Specialist based in Parramatta, Western Sydney.

We can offer a FREE SMSF compliance check for you and offer a complete solution for your SMSF Administration and Accounting needs.

We use Class Super so you can login via our client portal and check your SMSF details and balance any time that suits you.

If you’re tired of paying too much to your existing financial planner or accountant for straight forward compliance work, give us a go and experience the Beyond Taxation level of service.

Find out more at http://www.beyondtaxation.com.au/superannuation.html or call 1300 552 993

Be quick, this amazing offer won’t last.

Financial SMSF Accounting Services and Tax Returns

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closed Comments

  • bargaino on 18/07/2019 - 15:27
    -8

    $2000 minimum for a bookkeeping for a self-managed super-fund?
    Don't they normally just invest in shares & property? More like a personal tax return, not running a business.
    I hope you guys are risking jail-time to get good deductions for such fees :-)

    Or is compliance really that complex & tedious?

    • AssociatedBeyond Taxation @ beyondtaxation.com.au on 18/07/2019 - 15:33
      +1

      Hi Manic,

      Thank you for the comments. Not sure how much you know about SMSF. The following is the ATO link for your reference.

      https://www.ato.gov.au/About-ATO/Research-and-statistics/In-…

      Self-Managed Super Fund is another type of entity approved by ASIC/ATO, just like a company.

      It involves bookkeeping, preparation of financial statements, lodgment of income tax return, and other compliant work regulated by the ATO. The fee for such work varies, usually starting from $2k depending on the complexity.

      Hope this help.

      Kind regards,

      Joy

      • DocC on 18/07/2019 - 16:19

        The fees described (assuming service is good) are actually very reasonable. SMSF is not something you want to do wrong and then find your fund is non-compliant.

        • AssociatedBeyond Taxation @ beyondtaxation.com.au on 18/07/2019 - 17:59

          Thank you

      • IVI on 19/07/2019 - 11:18

        BEFORE you pay for [unnecessary services] I suggest you invest in:

        • "The Barefoot Investor" book or
          it's Audible audio-book edition (free of it's your Frist one)

        It's author is an Aussie, AU-licensed Financial Advisor,
        with every Incentive to Know & Comply w/ AU's Tax law.

        …and compare+contrast, eg: Indexed Funds
        with Self-Managed Super Funds
        (eg, Cost to set-up, keep alive, etc. AND
        expected Performance of each)

        Do you want to pay to set up a SMSF [ every year ]…?

        Does the Return justify the Costs…?

        Compare B4 you Buy, say I ;~)

      • IVI on 19/07/2019 - 11:23

        "Complexity - which determines the fees -
        . is in the eye of the (Fee-)Beholder" ;~)

    • Faraam Knight on 18/07/2019 - 15:36

      no, it doesn't work that way.

      I work for a CA practice.

      Tax software have data feed, matching transactions can be done by someone in Philippine with low salary and no super.

      Most of accounting practice would have at least 2 partners, so one is your tax agent and the other one is your auditor, so no change hands.

      besides that, any mum and daddy SMSF would have some sort of investments, Financial planning department will kick in, investments, life/disability insurance you name it

      This is just get you in the door.

      • bargaino on 18/07/2019 - 15:43

        Yow.
        I've seen recommendations around $200k minimum for a SMSF.
        So that is a large chunk of the typical returns going just on book-keeping.
        I suppose the logic is that fund-managers are worse.
        A shame that it cannot be kept simpler. We are far too over-regulated, though the ATO has made some progress in making things easier.

        • Faraam Knight on 18/07/2019 - 15:49

          No, from my experience 200k is really low

          most of my clients(with a smsf) would easily meet 3.2M transfer balance cap.

          they are in their 70s and these people wont come to ozbargain.

          Many of them are Summer chasers, enjoy a Sunny day on Mediterranean beach.

      • OzYY on 18/07/2019 - 16:12
        -1

        That's so right, why would they hire you in the first place as CA or CPA is not important and everything can be outsourced.
        Employee cost money and it is better to do everything offshore.

        I think we need a crack down on many industries as someone in Philippine cost far less than us?

        Those 2 partners can be outsourced too, just like many of us moved to Thailand for the retirement.
        I think the average SMSF annual account should cost only $20 - $50, not to forget the worthless audit that overcharged a lot.

        Since the book is done overseas, we pay no GST, and you have saved an extra $2-$5.

        • Faraam Knight on 18/07/2019 - 16:20
          +1

          no, I think that is a bit extreme.

          as I said, credibility is the key in this industry.

          you can get someone with basic knowledge to do transaction matching etc

          Quality control needs to be done here, People in Philippine have no incentive to learn Australian taxation law.

          SMSF will need a trustee company which needs to file with Asic every year.

          There will be a lot of paperwork to be done, engagement letter, representation letter, annual resolution and minimum pension letter.

          It is complicated than you think.

          • fantombloo on 18/07/2019 - 19:38

            @Faraam Knight: Not really.

            Wingyan's comment is hyperbolic but otherwise true. The output for a typical $2k bill is IME something I could casually do on a Sunday arvo. These letters you talk of are just modified boilerplate, the accounting itself is typically less complicated than that for an active business trading over a few weeks. Most of the cost seems to cover the "spooky SMSF" factor.

            • Faraam Knight on 18/07/2019 - 20:49

              @fantombloo: disgree

              I am in this industry and did a lot of this stuff.

              a big SMSF I did had 8M (before 1.6m transfer balance cap thing) 5 bank accounts, Asx shares, commercial rental property, oversea investments(need to be converted to AUD for valuation), CGT, managed fund distributions, private company shares

              budget time for putting things together was 35hrs work + manager review time+ peer review + auditor+ collation

              The working paper stack is as thick as Uni Textbook.

              Those letters are required by ATO and for compliance purpose, 'regulated' mean there is a penalty if you got it wrong.

              Running a business is hard, I agree. Without a good accountant, running business is impossible.

              As I said 2k fee is a nominal number,just to get you in their door.

              My boss charge rate is $660/hr and manager is $450, doing this cheap work is to get you into the financial planning stuff.

              they get a cut when a client get a investment, life/heath insurance, audit assurance

  • peterlong1952 on 18/07/2019 - 15:35

    Does that include the compulsory Audit fee?

  • AssociatedBeyond Taxation @ beyondtaxation.com.au on 18/07/2019 - 15:39
    -1

    Hi Peter,

    As an accountant, we can not be an auditor as well as regulated by the ATO.

    We use auditors charge from $275 -$550, depending on the complexity of the audit scope.

    Kind regards,

    Joy

    • mini2 on 18/07/2019 - 16:11

      Geez that's cheap.

      • AssociatedBeyond Taxation @ beyondtaxation.com.au on 18/07/2019 - 17:51

        Thank you.

  • Faraam Knight on 18/07/2019 - 16:05
    +1

    I don't think they would do any dodgy stuff.

    credibility is key and license is all for accounting profession.

    My point is that they come to wrong place to advertise themselves.

    99.999% people here don't have a 1.6m+ SMSF.

    • AssociatedBeyond Taxation @ beyondtaxation.com.au on 18/07/2019 - 17:58

      Thank you for your comments, Faraam.

      SMSF is a highly-regulated area and we certainly have the credibility and ability to offer high quality services.

      Average assets per SMSF member was $652,000 and average assets per SMSF was $1.2 million back in 2017.

      People set up SMSF for different reasons, such as gaining control on their own retirement money, utilizing contribution and pension strategies, investing in property market, investing in share markets, etc.

      Kind regards,

      Joy

  • chumlee on 18/07/2019 - 16:32
    +1

    Esuperfund is cheaper for the same service

    • AssociatedBeyond Taxation @ beyondtaxation.com.au on 18/07/2019 - 17:51

      Hi Chumlee,

      I agreed. There is always cheaper in price with online providers but not sure about if that is the same service you will get.

      We are based in Australia and all the services are offered in Australia, not offshore. Not to mention that we are SMSF specialist and offer very personalized services.

      Kind regards,

      Joy

  • Mahalo on 18/07/2019 - 17:42

    Just came in for the funny accounting comments…. said no one =D

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