There are now more than 300,000 Self Managed Superannuation Funds (SMSF) in Australia and the number continues to grow.

A SMSF is basically a superannuation fund with one to four members who are also trustees responsible for the investment strategy and administration of the fund within strict Australian Taxation Office (ATO) guidelines.

In assessing whether an SMSF is suitable for you we prompt the following questions:

• Do you have a substantial amount in personal superannuation? (As a guide, a minimum of $200,000 would be required due to establishment costs and ongoing management fees.)
• Do you enjoy learning about your investments and have the time to regularly review their performance?
• Would you like increased flexibility in estate planning, more investment options and greater responsibility for your own retirement funds?
• Would you rather invest directly in shares than in managed funds that take huge chunks of fees from your investments

If you answered ‘yes’ to these questions, you may be suited to having your own SMSF.

Whilst there are potentially great benefits, having a Self Managed Super Fund requires time, effort and discipline plus they also attract extra ongoing fees including annual audit fees.

We can handle the complete administration of your fund as well as preparation of all of the tax returns. We also have auditors available (an independent auditor has to audit the fund and tax returns before lodgemnent with the ATO)

Case Stdy.

We have a client who had $50,000 with a major investment group. The super value was not rising.  We looked at the unit prices and found that between 6/11/06 and 14/07/10 the unit price was the same. The price had gone up and down but had come back to the 06/11/06 price.  She immediately setup her own self managed super fund and transferred the money over to her own fund and purchased individual shares. She now is 5% in front within 6 weeks. 

Cost benefit : initial setup of fund $700, annual auditing fee around $400, annual tax return around $1,000 compared to saving of fees from financial group $1,500 – $2,500. Result : way ahead, even on $50,000 investment.

Call us now on 9832 0900 to book a free, no obligation appointment to discuss your superannuation options including the establishment of your own SMSF. It is not as hard as you think.