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Learn more about Converting SMSF to Small APRA Fund (SAF)

 

  • Small APRA Funds (SAFs) are an alternative to SMSFs that also offer members some flexibility and control over the fund’s investments.
  • The key factor that differentiates SAFs is that the members are not acting as the trustee and the trustee role is operated by an APRA regulated professional trustee.
  • Another point of difference is that the SAF is supervised by APRA, whereas the SMSF is supervised by the ATO.
  • Special consideration needs to be given to executing the transfer in a manner that minimises the potential implications of CGT.
  • SAFs may be suitable for those who would like the flexibility of a non-public offer fund, but do not wish to take on the additional responsibilities and regulatory paperwork of being a trustee of their own fund.
  • SAFs may also be suitable for those who had an SMSF, but due to changes in circumstance are no longer able to act as a trustee, for example, due to age.
  • SAFs may also benefit SMSF members that have become non-residents and face the issue of Australian-based control of the fund.
  • Should an SMSF convert to an SAF, the ATO needs to be informed with 21 days.

Special Offer

We would like to offer you a complimentary 20-minute meeting.

Meetings can be held on either Zoom or over the telephone.


Small APRA Fund

Making the process of converting SMSF to a Small APRA Fund a simple process

The advantage of receiving advice

Converting SMSF to a Small APRA Fund (SAF)  can be a complex matter and needs to be executed in a particular order and defined manner.  Using an expert can alleviate mistakes that could result in penalties and unnecessary tax payments.

Why receive advice from us?

We make the process simple for you.  We can help you all the way through to completion

The Action Plan

Take advantage of our special offer of an initial free meeting.  Book now following the link below.

Why Forman Accounting Services can help you

Forman Accounting Services Pty Ltd is a SMSF specialist.  Our main adviser Solomon Forman has over 30 years’ experience.  He has been accredited by the SMSF association as SMSF Specialist Adviser  and also as SMSF Specialist Auditor.  Our sister company Forman Financial Services Pty Ltd holds an AFSL and provides investment and financial advice.  As a group we able to provide you with comprehensive services including tax, accounting, financial planning and investment advice.

How we provide the services

You can choose between online services using Zoom for meetings and Adobe Signature for online paperwork .  Alternatively you can visit our office for face to face services.

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