SMSFs, are available to manage your superannuation funds by yourself, instead of saving your super benefits with fund manager(s). It has same functions as retail super funds, but allows more control and flexibility.

This option allows for a more “hands on” approach to managing your superannuation monies where you wish to incorporate direct investment assets, such as Australian shares, term deposits and direct property holdings, in addition to managed funds and risk insurance cover. A self managed fund also allows greater control over tax management and, for clients with existing investment assets who may wish to transfer these assets into superannuation, investment earnings are taxed at a maximum of 15% rather than the individual’s marginal tax rate.

An investor who is contemplating being a trustee of their own Self Managed Super fund must consider the obligations of being a trustee.  Trustees are bound by laws to responsibly manage the fund for the members.  Non-compliance can result in severe penalties.  Accordingly, trustees will need to keep up to date with changes in superannuation legislation and allocate sufficient time to properly fulfil your obligations as trustees.

To facilitate this, the use of professional services for investment and risk insurance advice, as well as preparing the trust deed, the necessary accounts and regulatory reports is recommended.

We are happy to work with you for your SMSF as we are SMSF Specialist Advisor’s.

This information is of a general nature only and does not take into account your personal situation. We advise that you seek advice from a professional adviser before making any decisions about a financial product.