Self Managed Superannuation Funds (SMSFs)

Administration of your SMSF is critical to get right and the taxation benefits can be compromised if this is not done well and on a timely basis. ….Read more   

A SMSF gives you total control over how your super benefits are invested but in doing so it confers upon the Trustees significant obligations and responsibilities to ensure the Fund is administered appropriately.  As it’s a requirement for all members to be appointed as Trustees or Directors of the Trustee Company, it’s the same individuals wearing many hats which means it’s easy to adopt a ‘it’ll be right attitude’. 

The overarching principle for all superfunds whether they are industry funds, public offer funds or SMSF is to provide retirements benefits for the members.  

Knowing the parameters within which your Fund can operate in is critical and involves understanding not only the governing legislation and regulations but what’s allowed in your Fund’s Deed(s) as well as the Investment Strategy.

Failure to comply with the rules can lead to fines, disqualification as a trustee, and in serious cases lead to your Fund becoming non complying.

To navigate this mind field, it’s important that the Trustees have the support of experienced advisors working in this constantly changing environment, and the knowledge to meet your compliance obligations as and when they fall due.

To find out whether a SMSF is the best option for you, or for help with ongoing administration of your SMSF, contact us.

Check out these links to assist you understanding the above;

Choosing individual trustees or a corporate trustee

Investment strategy

Sole purpose test

Running a self managed super fund 

Administering and reporting

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