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Snelleman Tom Group

SMSFs

What is a Self Managed Superannuation Fund? (SMSF)

A Self Managed Superannuation Fund (SMSF) means that you run your superfund yourself. 

A SMSF has less than 5 members, is registered and regulated by the ATO and each member is a trustee.  You take responsibility for the investment strategy and all the taxation, compliance and regulatory requirements.

 What are the benefits of a SMSF?

A SMSF can give you control over your investments and flexibility in tax and estate planning.  You and your advisor get to decide where and when to invest your funds.  So you get to take an active role in setting and implementing the investment strategy for the Fund.

 Is a SMSF right for you?

While there are many benefits of a SMSF, there are other aspects that should be considered.  With a SMSF, you take on the discipline and responsibility of adhering to compulsory regulatory and compliance procedures such as:

  • Putting your investment strategy in writing
  • Keeping all records of buying and selling of investments
  • Keeping all records of the taxes relating to these investments

There are many more things to consider when setting up your own SMSF – it is important to get the right advice.  At John W Leggatt, we can give you that advice.

 

Please feel welcome to contact Scott Adams to discuss your superannuation and SMSF needs without obligation on 07 3871 8178.