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Self Managed Super Funds

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Self Managed Super Funds

Want to learn more about Self Managed Super Fund?

SMSF’s give a great deal of control over what your chosen investment vehicle is to accumulate wealth for retirement.

  • More control over your super investments and tax.
  • Ability to invest direct with few restrictions.
  • Ability to borrow to invest.
  • Choice around how you pay for and house your personal insurance such as income protection and life insurance.

 

The amount of assets sitting in self managed superannuation funds in Australia now exceeds $450 Billion Dollars*

This area is rapidly expanding and now accounts for around 1/3 of total super savings in Australia. The sectors growth can be partly attributed to the desire to have control over how your super is invested.

We help our clients to take advantage of the strategies that they can benefit from in this structure. SMSF’s give a great deal of control over what your chosen investment vehicle is to accumulate wealth for retirement. New laws around super funds and borrowing open up opportunities to use the power of leverage to invest into assets such as property. Self managed super funds can take advantage of strategies such as dividend imputation credits to pay little or no tax in their fund as well as various accumulation and pension tax structures. In a complex area we break it down to the simple steps our clients need to take to make sure they are not costing themselves benefits and savings.

 

* Source Australian Taxation Office SMSF report October 2012

 

Contact us for a FREE consultation

 

 

FAQ

 

I don’t know much about super so why should I self manage?

The name suggests that self managed super would require an individual to possess I high degree of knowledge to venture into this territory. While there is responsibility if you wish to run your own fund we work with our clients to help them be aware of what they are responsible for and how to most effectively manage their fund. The potential benefits of the self managed super area are vast. From tax planning to make sure assets are invested according to your plan rather than pooled with other investors and subject to the managers plans. Housing insurance effectively. Through to using it as effective vehicle to manage intergenerational wealth and estate planning. We help educate our clients to make the most of strategies within their super funds to use it as a tool for building wealth.

 

Are SMSF’s too expensive?

The cost of advice is infinitesimal compared to the amount of money frequently wasted without it. It’s surprising that people are willing to pay for the best medical and legal advice but are reluctant to invest in making sure their financial decisions are going to result in. The stakes are high when you consider the massive difference that can occur over an extended period of not making the most of your opportunities. Fees to run a self managed super fund are fixed in nature compared to industry and retail funds that charge a percentage of your account balance each year. This could lead to significant cost savings over time.

 

I don’t think I have enough money for it to be worthwhile?

While there is a minimum cost to run a super fund which needs to be considered against the size of the opening balance it is worth paying attention to some strategies that may make a smaller balance still worthwhile to establish a self managed fund. Changes in super borrowing laws have opened up the possibility of buying assets such as property using your super as the deposit and the banks money to complete the transaction. When considering the pool of assets that the super fund controls the ongoing costs of the fund may be comparable to that of other super products as a percentage of funds invested. We can analyse current super funds and determine if an SMSF would be economical for your situation.

 

How do I set up a self managed super fund?

There are various factors you need to consider when setting up a fund like What trustee structure to use, what will be my investment strategy, how will I manage the investments the fund holds. It’s important to seek professional advice to make sure you make the right choices and don’t miss anything. Speak to us and we can outline this for you.