SELF MANAGED SUPER FUNDS
SMSFs are a way of saving for retirement like other super funds and can have tremendous advantages for the investor.
What is a SMSF?
A Super fund with up to four members, where you make the decisions for where, how and why your super is invested.
Advantages of a SMSF
Control of investment decisions
Flexible retirement pension options
Increased control of tax situation
Ability to leverage into direct property and shares
Ability to borrow money to invest into direct property and shares
Ability to borrow within the Fund
Understand the rules and regulations:
Your SMSF must comply with the SIS Act and ATO rulings at all times
Regularly review the Trust Deed ensuring it is meeting the needs of the Fund and regularly update to meet regulatory changes.
Review the investment strategies. Are they complying with the SIS Act?
Understand the need to spread the risk on liquidity of the Fund and comply with the law.
Understand the tax and super laws relevant to running a SMSF.
SMSFs are not for everyone
Not suitable for combined super balances under $150,000
You need to want to be involved in your SMSF
Your tax status in your SMSF may be jeopardized if you are living overseas for an extended period.
Seek advice if considering an SMSF