Join the thousands of Australians who own a Self-Managed Super Fund (SMSF) and take control of your future.
Self-Managed Superannuation Funds (SMSFs) offer a good strategy option for many individuals, families and small business owners to build tax effective wealth and to protect assets over time. SMSFs are becoming popular for those who are ready to take control of their own super investments as they give you ultimate control and flexibility to manage your retirement benefits.
It must be noted though, that you will have increased responsibilities as a trustee of the fund. As a SMSF Trustee you need to keep up to date with all required regulations and keep up with the fast-paced financial markets.
2020 Tax & Accounting can work with you to understand your personal financial situation and decide whether a SMSF structure is appropriate for you. We will also make sure your assets are invested in the most effective way to maximise your retirement benefits.
It is generally agreed that there are a number of benefits of an SMSF but it is important that you also understand that an SMSF may not suit your situation, see below for some of the reasons why.
- Control – the trustees make the investment decisions.
- Asset allocation – the trustees are in control of asset allocation decisions as well as issues related to borrowing.
- Tax strategies – trustees have control of tax strategies and other planning options.
- Transparency – your SMSF provides you with good transparency concerning investment decisions and gives complete visibility over taxation treatment.
- Cost – the cost of running and administering a SMSF fund are not based on a percentage of the value of the fund but more on the time needed to prepare reports and address relevant compliance matters.
Running and managing a SMSF may not be suitable to everyone. For example, many of the advantages are also a disadvantage. Costs may be relatively high, there can be too much flexibility for prudent investing, remaining on top of trustee responsibilities can be complex and time consuming, and poor personal knowledge of the investment landscape can have serious consequences.
Should you wish to consider establishing a SMSF then we can help with:
- Establishing your fund:
- Annual Compliance Services:
- Portfolio Administration Services:
- Pension advice:
- Superannuation Advisory Services:
2020 Tax & Accounting would welcome the opportunity to discuss how we can help maximise your opportunities to grow your wealth through a Self Managed Superannuation Fund (SMSF). Contact us today to discuss how we can work together: 0425 317 262 or e-mail us here
2020 Tax & Accounting