A Self-Managed Superannuation Fund is inherently no different to the Industry, Wrap and Bank Super Fund alternatives you might currently have. It plays within the same superannuation rules and is bound to complete the same annual administrative requirements as a large public Fund. However, the point of difference is that you are in charge.
While meeting trustee obligations is not for everyone, it does offer unique advantages –
- You are in control of your superannuation and can include your family
Note: More than 45% of SMSFs are opened on the basis of seeking control - You have choice in how your superannuation is managed and administered
- You can invest in Shares, Property, Term Deposits, Cash and more
- You have more flexibility connecting personal tax and superannuation planning
You have more flexibility and control in relation to Estate/Succession planning.
The funds may have from 1 – 4 members who are also Trustees and make the decisions of the Fund. Advisory Partners Financial Planning Team is skilled at helping clients determine if an SMSF is appropriate for you and if it is a cost effective option at your stage of life. If it isn’t, we are happy for you to remain in the Industry and Public offer alternatives. However, if we identify an SMSF is appropriate our team will assist with:
- Set up
- Ongoing accounting and taxation
- Integrated administration and strategy advice where appropriate
- Wind up if an SMSF is no longer appropriate for you
For the full picture on setting up and managing your SMSF, speak to the Advisory Partners Team. They’ll guide you through the process while teaching you the hidden strategies that maximise returns and minimise expenses.
General Advice Disclaimer: This website contains information that is general in nature. It does not take into account the objectives, financial situation, or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information.
