Self-Managed Super Funds

Self-managed super funds, offer a level of control and flexibility that cannot be matched by traditional superannuation alternatives.

Many more of us are seeking the flexibility to make our own decisions about what, when and where to invest, and the ability to quickly change direction when needed.

Self-managed super funds have many advantages for investors compared to using a traditional super fund.

SMSF’s offer flexibility like no other super can!

What is a Self Managed Super Fund?

A Self-Managed Super Fund (SMSF) is a super fund that has four or less members and each member is a trustee of the super fund. As a trustee, you are ultimately responsible for the running of the fund and it is therefore imperative that each trustee understands the duties, responsibilities and obligations of being a trustee.

It is the trustee’s responsibility to ensure that a SMSF is operated for the sole purpose of providing retirement benefits for members or their dependants.

SMSF’s are generally more cost effective once the members combined resources reach approximately $250,000. They are suitable for investors looking for control over their superannuation assets. SMSF’s are not for everyone, and you must be sure you understand your responsibilities before you go ahead and set one up. You must have the ability, capacity and knowledge to act as a trustee of your fund, as there can be severe penalties involved.

Self-Managed Super Funds allow you to take full control of your super and access a greater variety of investment options not available through other funds.

Some of the main advantages of managing your own super are:

  • Provide you with the opportunity to reduce income tax on investment income and capital gains;
  • Increase the flexibility of investment choices and the asset selection;
  • Provide control over your total investment portfolio with the ability to take account of the risk profile of all your assets;
  • Allow the pooling of resources of others with similar financial objectives (for example, a family unit);
  • Give you the ability to own your business’ real property in the fund;
  • Have the opportunity to borrow or gear an investment via limited recourse borrowing arrangements, provided the asset is allowed under the rules of the SISA Act.

The running of a Self Managed Super Fund requires you to adhere to ever changing superannuation and tax laws.

We can help you navigate these areas, as well as maximising the benefits of running a SMSF. In particular, Dobbrick Financial Services can assist in:

  • Establishing your SMSF including the set up of a SMSF trust deed, TFN, ABN and GST (if applicable)
  • Developing an investment strategy for fund
  • Ongoing administration including paperwork, reconciliation and regular reporting on your SMSF
  • Managing your compliance obligations
  • Developing strategies to maximize the benefits of running a SMSF

If you would like professional advice on running your Self Managed Super Fund or assistance in setting one up, contact us.

Dobbrick Financial Services - Self Managed Super Funds

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Rochelle StoneSelf-Managed Super Funds (SMSFs)