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Self-Managed Super Funds

The popularity of Self-Managed Super Funds (SMSF) is increasing every year. In December 2012 there were 509,000 funds (a 27% increase over five years) and holding assets of $506 billion dollars (31% percent of all super fund assets in Australia).

In general terms, a superannuation fund is an SMSF if:

  • It has 4 or less members
  • Each member of the fund is a trustee or director of the trustee company
  • SMSF must have at least 2 trustees (one cannot be an employee of the other) or a corporate trustee
  • No member can be an employee of other member unless they are relatives
  • No trustee can receive remuneration for services to the fund

Advantages of SMSF include:

  • Members greater control of their investment decisions
  • Greater control of benefit payments, including whether a lump sum or pension be paid
  • Can acquire business real property from related parties
  • Estate planning advantages including the ability to make permanent binding nominations
  • There is more flexibility in dealing with taxation between members and taxation matters generally

Accounting Revolution is experienced in assisting in the decision making process of whether or not a SMSF is the right investment for your retirement funds, setting up the fund, structuring for borrowing funds and ongoing compliance work for SMSF.

Some of the areas that require consideration are risk tolerance, the capacity for the SMSF to borrow funds along restrictions placed on borrowing, transaction costs, set up costs, time horizon, insurance requirements, trustees responsibilities and Investment Strategy to name a few.

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