Self-Managed Superannuation Funds

We are happy to announce that we now offer Self-Managed Superannuation Fund (SMSF) administration services (financial statements, tax returns, requisite statutory documentation, etc).  Please note that this service is available regardless of whether we provide you with financial planning services and advice.

In short, our value proposition is that we prepare SMSF accounts in real time*and endeavor to provide clients with superannuation strategies that minimise taxation inclusive of death taxes and GST and the burden of administration.  We offer a highly customisable service that we can adjust on a per client basis to suit your specific needs.  Please feel free to contact us anytime to hear more about what we can do for your fund.

This month’s wealth pipeline provides five reasons why an SMSF may be right for you. 

What is an SMSF?

An SMSF is a superannuation fund established for a small number of individuals (fewer than five), and regulated by the ATO.  Generally, the members of the fund are individual trustees or directors of the corporate trustee for the fund.  SMSFs are now the largest segment of the superannuation industry by value.  Essentially they allow people to control their own super investments in preparation for retirement.  If you establish an SMSF, you (as trustees/corporate trustee directors) are responsible for its operation within the law.

Five Reasons Why an SMSF Might Be Right for You

1 Control.  As the members of an SMSF are the fund’s trustees, the members directly control the investments, insurance cover and strategies that the fund utilises.

2 Increased investment universe.  By their very nature, SMSFs allow their members an increased investment universe compared to other superannuation funds.  This allows a fund to purchase assets such as direct property and artwork (and much more).  SMSFs, similar to other superannuation funds are governed by the relevant law and their trust deeds.   

3 Cost.  The cost of administrating an SMSF does not usually materially increase when the size of the fund increases.  This allows larger funds to be very cost effective.

4 Tailored estate planning solutions.  First, we note that many superannuation members are unaware that their superannuation interests do not automatically form part of their estate.  Therefore, superannuation should be a key consideration in anyone’s holistic estate planning process.  SMSFs allow their members to tailor specific estate planning outcomes in a similar way to a will.            

5 Strategy Utilisation.  There are many strategies that are generally only available to SMSFs.  The best example to illustrate this is the ability for an SMSF to borrow from a member (or other related party) to purchase assets such as property or shares.     

Whether an SMSF is right for you will depend on your personal circumstances.  It is paramount that you weigh up the advantages against the disadvantages, and also consider other superannuation structures that could be more appropriate for you such as an industry or retail fund.

*dependent upon the data feeds.