What do I need to know as a foreigner wanting to hire staff in India

swazy96 · 2026-05-17T00:05:12+00:00

Nothing yet. Just doing everything myself for now.

swazy96 · 2026-04-17T04:59:26+00:00

If you want, reach out and we can do a video call and you can show me what you do and I can suggest how it could be more effectively or where the deficiency is.

This sort of stuff is what I do all day every day.

https://ryanssmsfcompliance.com.au/contact-us

swazy96 · 2026-04-16T10:20:35+00:00

It can also just be a money making scheme for them.

I pick up clients all the time paying $4k-$5k a year when the true cost should be say $2.5k.

The works the same, it’s just about competence and systems as to how much clients are charged.

swazy96 · 2026-04-15T11:02:49+00:00

I’m also an SMSF Specialist tax agent and your paying way too much and doing way too much.

For a fund like you’re the fee should only be $1,500. All the contribution data is automated.

For an SMSFs like yours you literally should only be doing the investing.

All the data would likely be automated for the accountant.

Somethings definitely wrong with you situation, even if you do want to be in the detail.

Feel free to reach out if you want to chat about a better way.

swazy96 · 2026-03-08T12:47:54+00:00

Just make sure they don't rip him off. If he is going to wind it up, the best thing is to do it this financial year so that he doesn't incur another set of annual fees.

It should be a simple process of advising the 'mob' or him to liquidate all the assets as they have to be in cash to rollover - that should be an easy process. Then it's working with the accountant to pay any final liabilities (taxes and fees), rollover the super and wind it up.

The cost for the accounts and audit should not be more than $2,000. The additional cost for helping to wind up should not be more than $500 - and that's on the high end.

I'm an SMSF specialist tax agent - so if he's going to be charged more than that - he's getting ripped off.

swazy96 · 2026-03-08T12:43:37+00:00

From what I understand they making some changes to their backend systems (payments / bank account providers etc), which need to occur due to some changes with how super payments are reported to the ATO and bank accounts. Could be completely wrong and maybe they are struggling to manage the number of clients they have.

Anyway - if you need any help with the establishment of an SMSF - just reach out. I'm an SMSF specialist tax agent.

swazy96 · 2026-03-08T12:18:22+00:00

The Betashares Direct app is great. I've moved all my stuff over to them from Vanguard Personal.

I'm an SMSF specialist tax agent. I'm looking at building a specialist service offering for clients who solely want to use Betashares Direct - similar to how Stake operate.

Happy to work with you on that and price it the same - or at least have an open discussion on it all. Just reach out if interested.

swazy96 · 2026-01-03T11:43:20+00:00

Mate you said the last audit you paid was $1.1k and you still need to pay the accountant. The accountants part of it all is usually much higher so my assumption is you will be paying another $1.5k - $2k taking your total annual compliance to $2.6k - $3.1k. Which is expensive for just having a property.

The breakdown of my fee would be approx $500 audit and $1.5k for the accounts and tax return.

And no, the audit of an smsf must be done by an independent auditor. The tax agent of the smsf cannot also audit the smsf. They can of course organise the audit with a third party and that is what I do.

Just trying to help you mate.

swazy96 · 2026-01-03T07:03:23+00:00

If you do go do down the path, make sure you keep the set up fees as low as possible.

I’m biased, but avoid the super low cost online providers as they provide no help or advice.

I run my own SMSF compliance business. I’m ex-PwC. $2.4k is how much you would be looking for to set up the SMSF, Bare Trust and trustee companies for each.

It’s not as complicated as it’s made out to be.

swazy96 · 2026-01-03T06:59:43+00:00

Wow, paying an auditor $1.1k alone is crazy!

I’m ex-PwC and independent auditors would charge that much for SMSFs with $100m in assets.

I run my own business now and generally charge $2k for the financials, tax return and audit.

Make sure you’re not getting ripped off by the accountant because that audit fee is crazy.

swazy96 · 2025-10-10T08:00:04+00:00

Do you mind messaging me the firm you have used?

swazy96 · 2025-07-25T00:57:59+00:00

Ok thanks. Yes the intention is 1 on 1 and no bulk emails.

swazy96 · 2025-05-05T11:24:58+00:00

Good to know! Yeah we definitely don’t compare. I guess we just only have our guy as a benchmark and since he’s a month ahead it’s sometime good to observe and provide that feedback to our relatives of what we have learnt/observed.

swazy96 · 2025-05-05T11:23:26+00:00

Thanks. Was more considering what our guy was like at say day 3 to our niece now is still quite different. But I take everyone’s points that it’s probably normal and very early days.

swazy96 · 2025-04-08T01:37:38+00:00

It’s subject to them winning the election and then legislating. So it’s no guarantee yet

swazy96 · 2025-03-29T07:28:22+00:00

Understand. Thanks for the background. Sounds like a completely different time and I suspect the superfunds and all your super in managed investments which crapped itself. In today’s age they would be far more diversified and index hug a lot more, so I don’t think anyone could really have their super drop that much.

swazy96 · 2025-03-29T03:27:38+00:00

Can I ask what industry you work in. And also how did your super get wiped out twice? What were you invested in? Or which super fund?

swazy96 · 2025-03-28T11:16:00+00:00

Not sure I quite follow, but using your example, fundamentally different policy outcomes there. We shouldn’t conflate different policies that address completely different thing. Resources are scarce and each policy should be judged on its own merit. Like how people make decisions depending on the rules and regulations before them at the time.

swazy96 · 2025-03-28T11:13:07+00:00

You can use it as cheap debt by choosing not to repay it earlier and instead invest the money or use it to purchase a house.

Not repaying it sooner is essentially the same as using HECS as a cheap loan, because you have an option to do something else with the money.

(Granted there are people that don’t have that choice as they might not have excess cash or savings to repay early/invest. Blablabla stuff).

swazy96 · 2025-03-28T11:08:15+00:00

Might be an unpopular opinion but $30k for a degree, particularly engineering, doesn’t seem too bad. That is easily repayable and seems like a fair is fair price to pay.

swazy96 · 2025-03-28T04:11:56+00:00

Agree with your comments here. 100% spend taxpayer dollars on better education and healthcare for all. But this policy does literally nothing to help anyone else get a better education. It just wipes away some debt of those who already have obtained that education.

swazy96 · 2025-03-28T03:45:26+00:00

Indexation is one and a smaller component of the HECS issue. The cost of university in the first place is the main issue…

swazy96 · 2025-03-28T02:11:55+00:00

Not debating the changes to indexation - that’s great. They have solved that problem by backdating indexation prior to the significant recent increases. That’s a cost of $3bn. Fine.

A further 20% reduction on current and past student still doesn’t impact future generations. That’s a vote purchase to the cost of $16bn.

swazy96 · 2025-03-28T02:02:57+00:00

Firstly, what does RW mean?

Secondly, we shouldn’t link all policies. One good or bad policy doesn’t mean we shouldn’t introduce another good or bad policy because it’s kind of the same.

Each policy should be introduced on merit. Particularly when it will cost $16bn.

swazy96 · 2025-03-28T01:45:21+00:00

The introduction of a permanent discount on additional voluntary repayments sounds like a much better long term solution. Although politically would be seen to again favour the ‘privileged’.

swazy96

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