Superannuation

As the name suggests, a Self-Managed Superannuation Fund (SMSF) is a superannuation fund that you manage yourself.

People often set up a SMSF thinking that they can do a better job on their own. While a SMSF can be cost effective and give more flexibility and control over tax outcomes and investment choices, it’s important to take an overall view when deciding whether a SMSF is better for you. Despite these advantages, the decision to commence a SMSF as your preferred superannuation fund should not be taken lightly.

SMSF’s have a lot of flexibility. They can allow investment in almost any managed fund, direct share, or financial investment, but also in physical assets such as property, art and collectables. It’s important to note that there are strict laws governing the way SMSF’s are set up and monitored, although they do present great opportunities for clients wanting more flexibility with their superannuation investments.

However, consideration should be given to the level of interest in your portfolio, your risk profile, your financial goals and your level of available assets. It’s important to understand the potential disadvantages, including the risk of non-compliance under the SIS legislation, the costs of running a SMSF, and the time requirements for the ongoing management of the fund. Although individuals have a degree of control over their level of involvement, the minimum level of involvement required is greater compared to funds invested in an industry or retail superannuation fund.

We can help you decide if a SMSF is right for you, and help you understand what’s involved in managing it. If you decide that this is the right choice for you, we can help with the establishment and running of the SMSF, to ensure that you are not only meeting the legal requirements, but that your SMSF is invested in a way that helps you achieve your long-term financial goals.