Self-Managed Super Funds.

Following the introduction of legislation in 2005, many Australians are now able to manage their retirement savings with a Self-Managed Super Fund (SMSF). The benefits of a SMSF has seen a rise in everyday Australians starting up their own SMSF.

A SMSF provides more flexibility and control over your retirement savings than what is available from traditional funds. Some people manage their own fund for security reasons or because they believe they can get a better investment return than what is available with traditional super funds.

Self-managed super funds have low set-up fees and can be tailored to suit your financial circumstances and investment objectives. Unlike other types of managed funds, self-managed funds don’t include commissions or regular advice fees – which can add up to thousands of dollars each year.

What is a self-managed super fund?

A self-managed super fund (SMSF) is an investment vehicle that allows members of the fund to make their own decisions about how and where their retirement savings are invested.

If you’re interested in managing your own investments, then it may be worth considering setting up an SMSF. But before making any decisions, it’s important to understand what this type of fund entails and whether it suits your needs. Our team can help with everything from choosing the right structure for your SMSF through to providing ongoing support once you’re up and running. We’ll also provide all the advice needed on how best to manage risk so that you can sleep soundly at night knowing that all bases are covered!

Some of the benefits of a Self-Managed Super Fund include:

More control over where your money is invested
Tax Savings – As your superfund is operated by you, it essentially sets up an ideal tax savings vehicle. Any income your SMSF earns is taxed at a flat rate of 15%, which is a lot less than the standard rate an individual is taxed at.
The ability to take out home loans and use your savings as a deposit
The potential for higher net returns

Ready to get started?

Excellent, so are we! Speak to A Grade Tax, the team you can trust, and let’s get started on designing your own SMSF.

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Are SMSF a good idea?

While some people might like to manage their own super, it can take a considerable amount of work and time and often requires professional help with the legal aspects.

Establishing a self-managed super fund can be difficult, even for those with high levels of personal finance expertise. Before setting up your own fund, it’s important to know the components of each strategy and organisation that are relevant to you and your goals, as well risk involved in these strategies, as well as any potential returns you can expect at different points of your life stages.

Generally, you need a balance of $200,000 or more to use an SMSF effectively.

An SMSF could be the right choice for you, if:

You have a considerable super balance. Ideally, you need a balance of at least $200,000 to set up an SMSF. There are other considerations that make it worth it for people with higher balances including more control over assets and the ability to split your fund among multiple members such as spouses.
You have a general understanding of investing. If you’re not yet familiar with managing investments and would prefer a hands-off approach, an SMSF is probably not right for you.
You have time you can dedicate to it. Managing an SMSF can be time consuming, so you’ll need to make sure your lifestyle allows for sufficient free time. If you’re not able to dedicate enough of your spare hours, the investments might suffer and miss deadlines on reporting with the ATO.
You have a basic understanding of legal requirements. To be in charge of an SMSF, you have a number of legal obligations to follow. While it’s not necessary for someone with extensive legal experience to set up the trust deed (the official document that outlines the policies and procedures of your fund), some familiarity with common legal documents will help when creating this paperwork.

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Your local SMSF experts in Penrith.

If you decide to set up a SMSF, we can help with the administrative work for it. This includes accounting, membership records, preparing annual paperwork and statements, conducting portfolio reviews – all of which are important when running your own fund. With an A Grade Tax Superannuation Advisor you can rest easy knowing you’re meeting all your tax obligations.

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