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Self-Managed Superannuation Funds

Superannuation is one of the best ways to fund ones retirement. While there are a number of restrictions that need to be adhered to however, its tax effective nature allows us to invest today and either sell the asset or love off the earnings in the future potentially tax free.

 

What is a Self-Managed Superannuation Fund?

A Self-Managed Super Fund (SMSF) is a form of superannuation fund that can offer members greater control and flexibility over their investments and retirement savings than other types of superannuation funds.

A Self-Managed Superannuation Fund can invest in:

  • Direct Commercial or Residential Property
  • Shares
  • Managed Funds
  • Term Deposits and other interest bearing accounts.

Self-managed super funds must be established for the sole purpose of providing benefits to fund members on retirement. Not adhering to the strict rules around this can have sme severe penalties.

Why establish a Self-Managed Superannuation Fund?

An SMSF can provide many benefits including:

  • Greater control  over your retirement savings with the ability to develop your own investment strategy and make decisions on when to buy and sell individual investments
  • Greater flexibility around what investments you choose to invest in as well as the ability to adapt more quickly to changing market conditions
  • Wider choice of investment options including corporate bonds, managed investments, listed shares, listed investment companies (LICs), exchange traded funds (ETFs) and direct property
  • More flexible estate planning for example a member aged 60 or over can quickly withdraw benefits tax-free before death to avoid potential death benefits tax
  • Better tax planning A member of a SMSF could pay a concessional contribution to his/her fund on 28 June and even though it may not have been cleared by the SMSF, the member could still claim a tax deduction whereas the same contribution would need to be made at least a week earlier as the funds need to be cleared by the retail superannuation fund.

Learn more about the benefits of a SMSF.


Who should consider setting up a Self-Managed Superannaution Fund?

A self-managed superannuation fund may be suitable for anyone who wants to:

  • Take a more active interest in the management of their retirement savings
  • Wants to invest in property
  • Has approximately $200,000 or more in their superannuation fund (collectively with other members).

 

Find out if a self-managed superannuation fund is right for you.

Learn how TF Accountants can help you with your self-managed superannuation fund.

Contact TF Accountants about self-managed superannuation funds.

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