Whether you’re saving for the future or already in retirement, getting the structure of your superannuation right is vital to avoiding problems later.
We manage every facet of your super fund. Plus, we offer strategic advice to ensure you receive maximum benefits when you retire.
This includes ensuring your loved ones are properly cared for if unforeseen circumstances do arise.
The features of SMSF
- Reduced tax – greater control over investment decisions resulting in lower taxation.
- In-specie contributions – instead of cash, listed shares, managed funds, fixed term deposits and other contributions can be made to your super.
- Borrowing capacity – the ability to borrow funds opens up greater future wealth possibilities.
- Wealth protection – life insurance, total permanent disability and salary continuance can be put in place to protect members of your fund.
- SMSF can include 4 members – this means you can include other family members, which is convenient and cost saving.
- Generational Transfer – SMSF can be transferred to children.
- Estate planning – complex strategies can be developed to achieve your estate planning goals.
SMSF will not suit everyone
- It is not cost effective for small amounts of money – the suggested minimum is at least $200,000
- There is a need to understand trustee responsibilities and investment restrictions. Penalties may apply for non-compliance
- Time is required to manage the paperwork and maintain good records. Although most of this can be outsourced
Is a SMSF Right for your Family?
We can advise you on whether a self-managed super fund is the right choice for your family.
If you decide to start a SMSF, our team can establish one for you. All members of a SMSF are considered to be trustees, or directors of a trustee company.
We then work closely with the members of your SMSF to ensure they know how to meet their new obligations.
Talk to our superannuation specialists about setting up your own superannuation fund.
General Advice Warning: The information contained herein is of a general nature only and does not constitute personal advice. You should not act on any recommendation without considering your personal needs, circumstances and objectives. We recommend you obtain professional financial advice specific to your circumstances.