Superannuation planning
Superannuation funds are now the most effective place to build wealth in Australia and over the last ten years, the number of self-managed super funds (SMSFs) has been on the rise. With latest estimates suggesting that there are over 410,000 SMSFs in Australia, it is the nation’s largest superannuation sector.
With the industry’s growth comes tighter regulations and legislation which can present new challenges for accountants, financial planners and other professional advisors.
Superannuation law is highly complex and SMSF’s are subject to much stricter regulations than other entities. The current penalties for breaches of the superannuation laws can seem extreme. As a result, it is near impossible for advisors to provide comprehensive advice to clients unless they work full-time on superannuation issues. Due to changes in legislation advice on superannuation must be provided by Licensed Advisors. William Buck’s Licensed Advisors provide unrivalled advice.
Our superannuation consulting team has grown to become one of the most highly skilled and well recognised in the country. Focused purely on superannuation we seek to identify potential opportunities and develop innovative new strategies for our clients. These are primarily high wealth families and hundreds of professional advisors who regularly seek our advice to assist their clients.
The ICAA, CPA, NIA and various other bodies have, over many years, engaged us to lead the education of their members in these areas.
How we can help
- Tax risk management processes and strategies
- Providing strategies to optimise wealth transfers into SMSF’s from companies, trusts and individuals
- Using superannuation to drain retained profits out of companies whilst minimising tax
- Transferring overseas retirement benefits into Australia
- Advising whether potential asset purchases and other transactions are allowable in superannuation
- Setting up arrangements to allow SMSF’s to borrow to invest
- Determining whether it is advantageous for different investments to occur in an SMSF versus other entities
- Minimising tax and managing cash flows for family groups through benefit payments structuring
- Putting in place a structured plan to reduce tax on death benefit payments from 31.5% to 0%
- Assisting other professional advisors to provide technical advice to their clients
- Working alongside other professional advisors and preparing SMSF accounts, tax returns, pension documentation and other superannuation related paperwork for their clients.
Superannuation wrap
William Buck’s Superannuation Wrap is an online administration system that releases you from the paperwork and trustee responsibilities associated with Self-Managed Superfund (SMSF) compliance, while still giving you a great degree of flexibility and control over your retirement savings.
The service consolidates all your investment, insurance and superannuation information, allowing you to monitor and perform transactions in one convenient place while maintaining the flexibility associated with managing your own superannuation fund.
Through Superannuation Wrap, you can create comprehensive tailored reports, allowing you to keep track of your investments and simplify tax returns and compliance.
How can it benefit me?
By using William Buck Superannuation Wrap you are assured of:
- Superior portfolio management and trading tools
- One working cash management account
- All assets purchased or transferred listed online
- Access to a wide variety of reporting
- A database of current and historical information
- Quality Insurance at below market rates
- More time for you to focus on other activities
- One of the most cost-effective superfunds available
With superannuation wrap you can:
- View your portfolio online 24 hours/ 7 days a week
- Control your superannuation choices
- Choose from ASX top 300 direct shares
- Categorise investments by asset class
- Access 500 managed funds below market costs
- Access insurance at Wholesale prices
- Make Death Benefit Nominations
- Outsource trustee duties
- Access reports directly at ‘My portfolio’
Business superannuation
Is your business contemplating the introduction of a new employee superannuation scheme? Do you know what choices are available today for default employee schemes? Has your current scheme kept pace with the latest insurance options, investment choices and employee member benefits available in today’s market place?
Selecting and implementing a superannuation scheme for your business can be challenging. Reflecting on your business and employees’ objectives, reviewing the advantages and disadvantages of each scheme and managing the ongoing compliance are all time-consuming tasks. William Buck’s Superannuation specialists work closely with you to ensure the right superannuation choices for your business and its employees.
A good superannuation scheme should complement your business and human resourcing objectives and deliver meaningful benefits to employees and key stakeholders. The right scheme can also help to attract and retain valuable employees.
Years of industry expertise and access to current research puts us in the best position to develop a flexible, cost-effective solution for your business.
We can manage the whole process; from evaluating different schemes to implementing the plan, education of staff, and day-to-day compliance. We work in conjunction with the chosen scheme provider leveraging their strengths in relevant areas such as member education and benefits.
William Buck’s independence from any service provider ensures flexibility and a high level of investment choices and insurance options. By working with our Business Superannuation specialists your business is assured of:
- A scheme to meet your business objectives
- A cost-effective scheme
- Compliance with legal responsibilities
- An uncomplicated scheme for employees
- Access to quality superannuation providers
- A dedicated advisor available when required
- Economies of scale with respect to investment and administration fees
How we can help
- Review of employer’s and employees’ goals
- Evaluation of incumbent arrangements
- Administration of tenders/reviews
- Member benefit transfers
- Ongoing advice for members
- Staff education and training
- Insurance advice
- Ongoing statutory compliance
