Financial Planning, Tax, Wealth Creation, Business Planning, 360 Financial Group, Eltham, Victoria, Australia

DIY SUPER

Is an SMSF right for me?

Self managed superannuation funds (SMSFs) are an increasingly popular option for investors seeking greater control and flexibility of their superannuation. At the same time, you need to consider the wide–ranging reporting requirements and compliance obligations when deciding if an SMSF is right for you.

From the experts

While there is no statutory minimum required to set up an SMSF, you generally need a minimum of $200,000 of assets to make it cost effective. However, cost is only one consideration. Your obligations as an SMSF trustee are extensive.

What you need to know

Before deciding whether an SMSF is right for you it pays to consider the key advantages as well as the drawbacks of an SMSF.

Advantages

SMSFs provide a greater degree of control and flexibility over you investments, making them suitable for sophisticated investment and retirement strategies
Increased estate planning and retirement options
Potential for tax efficiencies

Drawbacks

Establishing and maintaining an SMSF involves:

Making time to effectively administer the fund and monitor its assets
Paying the costs of auditing, supervisory levies and day-to-day administration
Taking on the risk of penalties if the fund fails to comply

Count on us

A Count adviser can help you:

Decide whether an SMSF is the right choice for you
Boost your super using smart super strategies

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360 Financial Group ABN 61 401 351 286 provides its financial planning services as an Authorised Representative of Count. 'Count' and Count Wealth Accountants® are the trading names of Count Financial Limited, ABN 19 001 974 625. AFS Licence Number 227232, a wholly owned, non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 123 123 124. Professional Partner of the Financial Planning Association of Australia Limited.

Please note any taxation or accounting services are not endorsed nor the responsibility of Count Financial Limited.

The information on this web page is not advice and is intended to provide general information only. It does not take into account your individual needs, objectives or personal circumstances.