Running a Self Managed Super Fund

Australia has an estimated 470,000 Self Managed Superannuation Funds (SMSF) worth over $420 billion compared with the $260Bn in industry funds and $380Bn in retail funds, which have millions of members*.  Running a SMSF allows you to have a unique strategy to achieve you and your family’s retirement, lifestyle and estate planning goals.    Our self managed super fund (SMSF) strategy  team are here to help with ongoing self managed super fund investment strategies, full SMSF advice, daily SMSF administration, financial planning and self managed super funds setup.

There are some key benefits of running a SMSF particularly with regards to gaining control over the superannuation investment assets of the fund, rather than leaving it to fund managers.  Over the past few years we have seen a large move to SMSF by people who believe they “can do a better job themselves” as many have seen their commercial superannuation funds reducing.

Investment control and investment choice is one of the main reasons for having a self managed super fund.  There is a much wider choice of what the trustees can invest in including property investment, art, shares, hedge funds, gold, etc. and the strategies that can be designed to maximise this choice depending upon you goals.  There are many rules around the investment choices, however a SPAA accredited SMSF Specialist Advisor ^TM can help you to design a suitable investment strategy.

There are many estate planning benefits to running a SMSF, our SMSF specialists can design a strategy to achieve high tax efficiencies for example by leaving sometimes tax free income streams to beneficiaries with control.  SMSFs can also make binding nominations that do not lapse.  Our team have many case study examples of how we have helped clients design these SMSF estate planning strategies including on occasions when clients have unfortunately been diagnosed with a terminal illness.

Speak with our SMSF taxation experts to discover the control and flexibility that trustees have over the tax position of the fund. With good internal structuring or strategic investment planning tax can be significantly reduced.

With business clients and clients who may be at risk of bankruptcy it’s important to know that your benefits are protected.

Our team can compare your current costs of your superannuation with a SMSF and depending upon the account balance this can be significantly lower.  The main ongoing costs are for the self managed super fund administration which covers the SMSF accounts, SMSF tax return and SMSF annual audit.   Our costs are transparent and we are happy to provide these.

Running a SMSF allows much flexibility in terms of tax free and flexible income streams for those members nearing the pension phase.

Once you have set up your self managed super fund you will have taken the responsibility to manage your retirement savings and comply with the superannuation laws and Australian tax laws.