Self Managed Superfund (SMSF)
Control, Flexibility, Cost, Investment Choice – Your Super
The SMSF Basics
What Is SMSF?
In short, it is a private superannuation fund, regulated by the Australian Taxation Office (ATO) that you manage yourself. SMSF’s sole purpose is to provide for your retirement and runs under similar rules of an ordinary super fund however you are personally liable for all the decisions made by the fund even if you get help from a professional, or another member makes that particular decision. Check out some of our latest articles regarding Superannuation for more information.
Is an SMSF Right For Me?
If you like being in the driver’s seat and want more flexibility than a conventional super fund, managing your own super may be an attractive option. There three main questions you should be asking yourself regarding whether or not SMSF is for you:
Do I have enough Super?
SMSF balance* | Cost comparison with industry and retail funds |
|---|---|
Less than $100,000 | Unlikely to be competitive |
$100,000 to $200,000 | May be competitive provided administration and investment costs are minimised |
$200,000 to $500,000 | May be equally competitive |
More than $500,000 | May be more competitive |
How much will SMSF cost?
The costs will depend on how you choose to manage your SMSF and the investment strategy. The more complex you make it, the more it’s likely to cost. Administration costs are largely fixed whereas investments costs vary with the type of investments and the frequency of transactions.
In addition to administration costs and transaction costs, there is a set up fee and some ongoing regulatory charges.
As a general rule of thumb, if your expected annual costs are less than 2% of your super balance then an SMSF may be worthwhile
Do I have the time?
It will depend on what type of investor you are and how active you are when managing your SMSF investment portfolio. Having Suttie Financial Group run and set up your SMSF will reduce your personal time load, ensure accuracy and feel reassured knowing you are getting optimal advice on where you can and can’t invest.
It is important to understand that as the trustee of your SMSF you are responsible, and will be held accountable, for the compliance of your SMSF with the rules and regulations. You may delegate the duties, but not the responsibilities.
How Our Complete SMSF Service Looks Like
With our end-to-end SMSF service, we’ll look after the paperwork to set up your SMSF, its bank account and investment platform – so you can focus on making your first investment with confidence. The areas we look at include:
- Establishing an SMSF
- Advising on appropriate trustees
- Organising auditors for your fund
- Basic accounting and tax compliance
- The administration and reporting requirements of your fund
- Establishing and maintaining investment strategies for your fund
- Assisting with the purchase of assets including shares, managed funds and properties
- Obtaining loans to acquire a property
- Explore obligations in relation to paying superannuation
- Technical advice on compliance matters
- Transition to Retirement strategies
- Retirement and pension strategies
- Pension Calculator
- Matching your investment to your cash flow requirements
SMSF Loan Flyer
SMSF Flyer
This web page contains general advice only. It was prepared without taking into account your objectives, financial situation or needs. You should talk to a financial planner before making a financial decision.
SFG Financial Services Pty Ltd is a Corporate Authorised Representative (No. 473533) of InterPrac Financial Planning Pty Ltd (AFSL no. 246638)