Self-managed superannuation funds (SMSF) are designed for individuals and families who like to control their own investments.

Anyone can own a self-managed super fund, but we’ve found they work most effectively for those who have a large portfolio of cash and shares, as well as other assets like rental homes and even art.

An SMSF can also be ideal for business owners who wish to invest in business assets such as direct property holdings.

What benefits are there in a self-managed super fund?

The number one benefit is that the trustees (owners of the SMSF) can take greater control over their super assets. Rather than having large amounts of money invested by external fund managers, the members of the SMSF can make their own investment decisions.

Assets like direct shares can be traded inside the fund, and the tax benefits of franked shares are captured by the SMSF.

SMSFs provide greater flexibility with tax planning and tax breaks if they are structured correctly. Qualified tax advice is essential for making smart investment decisions with your SMSF.

SMSFs are also used with estate planning as they can be maintained outside the instructions contained in the trustee’s will. This means that with the correct structure, beneficiaries can be paid tax-free from the SMSF.

What is the downside of SMSFs?

Self-managed super funds have gained more acceptance in recent years thanks to the tax benefits. However, they are not for everyone. There is additional administration for an SMSF compared to a regular superannuation fund, and more responsibility involved.

For example, the ATO requires an external audit of the fund each year.

When we set up an SMSF, we will go through the paperwork, and what is required to ensure it works effectively for you as a means to save for retirement.

How we can help you with an SMSF

We are specialist SMSF advisors working across the Gippsland region. We combine the skills of our financial advisors with our in-house team of qualified accountants to help you make informed decisions.

We can arrange the set-up and ongoing administration of your SMSF. If you already have an SMSF, we can work alongside you to ensure it complies with the necessary requirements.