When you decide to take control of your financial future and become a Private Wealth Member of Royale Capital ActiveSuper program, you are also making the decision of becoming the fund’s trustee – and that is a decision that should never be taken lightly.

As a trustee, you are held legally responsible for ensuring your SMSF complies with the Superannuation Industry (Supervision) Act 1993 (SIS Act) and other relevant legislative and administrative requirements such as monthly, quarterly and annual reports.

As a Royal Capital ActiveSuper Private Wealth Member Royal Capital takes the burden of all this complex reporting off your shoulders. Our team of seasoned investment and financial professionals make sure that all reporting is compiled correctly and filed on time leaving you and the other trustees to focus on building wealth (and of course we can help you with that as well!).

Top level, the responsibilities of a SMSF trustee include lodging an annual income tax return and superannuation fund annual return; lodging Superannuation member contributions statements; appointing an approved auditor to complete the annual audit; maintaining records for up to ten years, and complying with investment requirements.

These are all responsibilities Royal Capital can either take on for you and/or consult with you on – offering the financial expertise of a team with many, many years of experience in the field.

The reason it is so important that the trustees of a SMSF obtain professional, expert advice is that significant penalties can be imposed on trustees who fail to perform their duties. This can include large fines and even prison time.

The SIS Act imposes minimum requirements on trustees. These include the obligation to act honestly in all matters concerning the fund; to exercise the same degree of care, skill and diligence as an ordinary prudent person in managing the fund; to act in the best interest of all fund beneficiaries: to keep the money and assets of the fund separate from other money and assets; to take an active role in the development and implementation of an investment strategy; to not enter into contracts or behave in a way that hinders other trustees from performing or exercising their functions or powers, and allow members access to certain information.

As lengthy as the above paragraph is, it really is only a very superficial laundry list of what is legally expected of a trustee. Capital Royal can help you understand the details of these obligations and help steer you clear of any potential conflicts or inadvertent violations.

To call out one of the above obligations – you must keep money and other assets of the fund separate from your personal assets and any other business assets. It helps to think of a SMSF as a separate body from the trustees, members and any employer-sponsor of the fund. In other words, the fund is its own person and you would not use money belonging to another person as if it belonged to you. If your actions do not benefit the fund and the fun alone, then they are probably not allowed. Keeping that in mind can go a long way toward staying out of trouble with the tax authorities and risking serious legal penalties.

Once again, having Royale Capital’s team of experts on call to answer any questions you may have is essential.

To learn more about all the financial services and educational programs offered by Royale Capital and our Private Wealth program, visit our website at http://www.royalecapital.com.au/ or give one of our expert consultants a call at 1300 924 463.

At Royale Capital we provide numerous programs to help our Private Wealth Members achieve their financial goals. It may be obvious but certainly bears repeating that when you improve your financial situation, you also improve your personal life. When you realize your dreams, when your dreams of financial stability become reality, you become a happier, more focused, more complete individual.

Because we at Royal Capital realize this truth, we have partnered with Sari Mustonen-Kirk. Sari is the author of the “uROK 33 Day Challenge” a personal development and change philosophy program designed to help individuals reach new heights in all areas of the uROk Personal Wheel including: Health, Wealth, Self, Love andWork.

The uROk® 33 Day Challenge is a ‘non-prescriptive’ robust life management and change tool that shows you how to manage your life, your way. The programme is formed out of a marriage of business thinking tools and metaphysical realities. uROk shows you how to regain focus and experience not only positive but sustainable change and growth.

One of the basics of this program is that simple obstacles can hinder the quest for success. Individuals can get so bogged down in the negatives of the past and of their present that they turn all of their focus onto the problems and not the solutions. They fail to give focus to what they must do to move forward and achieve success. But by turning their focus to the positive you can begin to plan for your future and once the thought is in place the action can follow.

You learn how to shift your focus from the perceived negatives in your life and aim it squarely at all of the positives, the possibilities and your vision of your best ever self and life. You stop thinking about your life and start living your life!

To learn more about Sari and the uROK program, you can download the first 33 pages of Sari’s “The uROK 33 Day Challenge” book for free at the Royale Capital website http://www.royalecapital.com.au/urok.html

To learn more about all the services offered by Royale Capital and our Private Wealth program, visit our website at http://www.royalecapital.com.au/ or give one of our expert consultants a call at 1300 924 463.

One of Royale Capital’s keystone wealth generating products is our Self Managed Superannuation Fund investment tool. Some of the many benefits of taking advantage of our SMSF product are an increase in investment choice – your Self Managed Superannuation Fund portfolio can generally include a wide range of investments; as a trustee you will have complete control over your fund and its investments, your SMSF may provide you with a wide range of options in terms of real estate planning and benefit payments; and by combining funds you save on fees thus lowering your overall SMSF costs.

Also when you manage your superannuation fund through Royale Capital you further benefit from our expert advice and our administration and compliance services which make sure that your fund is properly managed and in full compliance with all SMSF legal requirements.

But just what is a Self Managed Superannuation Fund anyway?

In Australia, the preferred national system for planning and contributing to self funded retirement, including pensions is Superannuation. While a particular individual may have a high net worth, the Australian Government provides significant tax savings and benefits for retirement planning using an approved method of Superannuation.

A SMSF is a superannuation fund established for 1-4 people. The fund is controlled by trustees/directors who are also the members. The members are usually related but not necessarily so. There may not be more than 4 members at any one time.

One of the big selling points of a SMSF is that self managed super funds offer a high degree of flexibility that allows them to be structured to better meet the specific investment needs of the members. In most cases self-managed funds are established and managed with the assistance of a specialist superannuation administration firm such as Royale Capital.

A SMSF can invest in a wide range of assets (subject to some restrictions) such as investment properties, shares and managed investments.

At Royale Capital our SMSF product is known as the Royale Capital ActiveSuper – an effective administrative service for self managed superannuation funds. Some of the services included under our plan are administration and compliance, record keeping, reporting, creation and maintenance of an online documentation library and online reporting, financial advice and accountant services, and an annual audit.

These particular services are extremely important. Self Managed Superannuation Funds are subject to strict rules that apply to their proper management. Noncompliance and breaches of the laws governing SMSF’s can carry harsh penalties which include fines, winding up of the fund and even possible criminal convictions. Thus it is imperative that care and sound financial advice be sought from a qualified financial advisor prior to considering the obligations and activities required to properly operate a self managed superannuation fund.

This is where Royal Capital and our Royale Capital ActiveSuper service comes in. We make sure that  Royale Capital ActiveSuper services provides complete investment and accounts management services for all fund investment types and benefit payment structures. This includes full ledgers and accounting systems to enable the proper management of all financial transactions in and out of the fund.

Royale Capital assists you with:

The Administration of the fund’s Trust Deed(s)

• Acts as the primary “mailbox” for all investments, records and compliance correspondence relating to the fund
• Maintains records, ensures the regular entry and balance of all financial transactions against the fund including (but not limited to) purchases, disposals, income and liabilities/expenses
• Uses an advanced workflow system to ensure that all activities required to be actioned for the fund by its experienced and professionally trained administrators are identified as specific tasks
• Provides comprehensive reporting on all fund investment, compliance and administrative activities to trustees, as well as the fund’s authorised service providers such as financial planners and accountants.

Again, these are just a few of the services the Royale Capital ActiveSuper service offers.

To learn more about our Royal Capital ActiveSuper product visit our website at http://www.royalecapital.com.au/ or give one of our expert consultants a call at 1300 924 463.