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What is a SMSF?

A Self Managed Super Fund (SMSF) is one form of a superannuation fund. You may learn some industry and retail super funds restrict your choices. That's not the case with a SMSF. One of the benefits of SMSF is members like you receive greater control over their retirement savings. You’ll enjoy wider investment choices and the ability to pay retirement benefits including pensions and annuities directly from the fund.

Self Managed Super Funds must meet the Sole Purpose Test.

It’s quite clear. The sole purpose of the Super is providing benefits to fund members on retirement. There’s one variation. If the member dies before retirement, the benefit must go to their dependents.

Are your finances ready for retirement? Perhaps a SMSF is your solution.

You receive many benefits of a Self-Managed Super Fund (SMSF):

  • GREATER CONTROL OVER YOUR RETIREMENT SAVINGS You have the ability to develop a personalized investment strategy making the decision when to buy or sell
  • CHOICE OF INVESTMENT OPTIONS Your retirement opportunities expand including a wide choice of corporate bonds, managed investments, listed shares, listed investment companies (LICs), exchange traded funds (ETFs) and direct property
  • TAX ADVANTAGES You’ll receive financial advice on potential opportunities
  • LOWER ANNUAL FEES Depending on your asset selection lower fees than retail and industry funds
 

Can you establish a Self-Managed Super Fund (SMSF)?

To qualify as trustees in the retirement fund members must meet these conditions
  • the trust deed that meets the requirements of the sis act there are
  • four or less members
  • each individual trustee must also be a member of the self managed super
  • no fund member can employ another SMSF member unless they’re related
  • no trustee remuneration for services as a self managed super trustee
There’s another method of establishing trustees for your SMSF. Your Self Managed Superannuation can have a company trustee (known as a corporate trustee). However, each fund member must serve as a director of the company and each director of the trustee company must be a fund member.
 
There are exceptions to the SMSF rules. iMoney Wealth Management investment advisers explain options if you’re including minors or establishing a single member fund. Click here for exceptions to SMSF member requirements.
 
Learn how a self managed super fund can improve your financial future.
 
Sign up now, for a no obligation free consultation where iMoney Wealth Management can show you more about self managed super funds.
 
Contact us about Self-Managed Super Funds (SMSF).

 

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