Do you Want to Manage your
Discover how you can minimise management fees
and maximise your superannuation fund.
Self managed superannuation fund explained
Self-Managed Superannuation Funds (SMSF) are superannuation funds where you control and manage them yourself.
According to the Australian Tax Office (ATO) “SMSF – A Statistical Overview: SMSFs have been the fastest growing sector of the Australian superannuation industry.”
Why do I need superannuation?
It should be mentioned that the purpose of having a superannuation fund is to be financially prepare for your retirement.
In other words, when you retire, you will have enough money in your superannuation fund to be able to live comfortably off it.
Self-managed superannuation fund benefits
Being in-charge of your future finances is the main reason you will want to manage yourself your superannuation.
However, managing your own superannuation fund will require a significant financial commitment on your part that will affect the outcome of your retirement future.
- what investments you take part in,
- how much you pay in management fees, and
- how much tax will be paid.
In other words, managing your own super fund can offer you lower management fees and greater control over the investment process compared to the conventional superannuation products in the market.
Also, SMSFs can be:
- a means for family members to pool their resources together and grow their wealth together, and
- they can be used to effectively transfer wealth between generations with estate planning.
Superannuation fund rules
As this is a life changing exercise, super funds are bound by strict guidelines with regards to compliance and regulations as set by the ATO.
Are self-managed superannuation funds right for you?
Before you decide if they are right for you, you will need to weigh up the advantages and the added responsibilities of having one, as opposed to just having the traditional way of growing your superfund through a superannuation company.
Self-managed superannuation fund advice and/or set up
- have a superannuation fund already and would like to transfer it to one you can manage yourself, contact us and we will guide you through the process,
- do not have a superannuation fund as yet but would like to have one you can manage yourself, contact us and we will guide you through the process of setting up and managing one.
Keep up to date…
Our professional and experienced accountants will keep you informed of tax and superannuation law changes as soon as they come into effect.
If you have any concerns or questions about a self-managed super fund, contact us as we can advise you on any of the following issues, and more.
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