If you're thinking of setting up an SMSF,

get in touch and we can help you work out if that is the best thing for you.

Control & Transparency

For most Australians, superannuation is their second largest asset behind the family home – so naturally they want to understand it, control it and have greater visibility of their retirement savings. With an SMSF, you can decide how you would like to invest your retirement savings and keep an eye on how it is tracking.

Pooling assets

SMSFs can be a great way to pool your super assets with a partner or extended family. With an SMSF, you can have up to four members. This means you are able to consolidate multiple super accounts and make better investments – and because it’s consolidated into one SMSF you only pay one set of fees.

Investment variety

SMSFs offer a wider range of investment options than traditional retail or industry super funds. With an SMSF, you can invest in direct shares, high yielding cash accounts, corporate debt, direct property, unlisted assets and much more.

Tax strategies

One of the most significant benefits of an SMSF is the flexibility trustees have over the tax position of the fund.

As trustees move towards retirement, there’s a number of planning strategies they can use to help reduce their overall tax expenses and liabilities.

While SMSFs are not likely to be cheaper to run than public super funds, the real benefit trustees enjoy is greater control of their costs. With an SMSF, you will incur certain fixed costs. The minimum requirements to pay for are an annual tax return and audit, as well as any ATO fees. The larger your SMSF balance grows the more cost effective it becomes to run an SMSF. The total cost of running your SMSF will depend on the investments you make within the fund and whether you decide to pay for additional SMSF services or specialist advice.

Costs

Estate & Benefit planning

SMSFs allow you to control how your benefits are passed on when someone passes away. With an SMSF, you can design a tailored strategy suited to your family situation and intended beneficiaries.

You should seek personalised, professional advice if you intend to establish an estate plan.

 

With the potential for up to 4 people to combine their super and make more interesting investments, Australians have realized the benefits of starting an SMSF. Get in touch if you have any questions.

Benefits

 
 

© 2018 Beattie Financial Services Pty Ltd. All rights reserved.

ABN 98 876 543 472

Corporate Authorised Representative (CAR) of Alliance Wealth Pty Ltd AFSL 439 562

 

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