Anyone showing interest in setting up a self managed super fund wants to know how much it will cost. There is, in fact, no definitive answer to this, as the actual cost in setting up the trust depends on a number of aspects. There is a lot of information available to give potential members an ide..Read More
While saving for your retirement is a good plan, it can be costly. Of all the different options available, self managed super fund offer better transparency and lower costs because you and the other trustees of the fund do all the administrative duties yourselves. A self managed super fund may no..Read More
The increased control you have over your self managed super fund is what makes it an appealing option. It gives you, and the other members of the trust, the opportunity to determine the best investment strategies. Your investment strategy should reflect your risk profile, your tolerance, your liq..Read More
A self managed super fund, or SMSF, does need to obtain an ABN. This is an Australian business number for a super fund structure which can be obtained, or applied for, when the SMSF is registered with the ATO (the Australian Tax Office). Before this can happen, the SMSF must prove to be compliant wi..Read More
Even though a SMSF is, in essence, self managed, there are rules and conditions surrounding it. These include who can be members of the SMSF and who can be the trustees. It is easy to say that virtually anyone can be a member as long as they are tax residents of Australia, but a SMSF isn’t for eve..Read More
A SMSF, or self managed super fund, can have anything from one to four members at the most. It is the members or a company that one or more members direct that become trustees of the SMSF, but regardless of who the trustees are, each member of the SMSF collectively pools resources and votes on every..Read More
A SMSF is a self managed super fund that must comply with conditions set out by the SIS Act. The key conditions are: There can be up to four members Each appointed trustee must be a member If a corporate trustee is appointed, each director of that company must be a member Members canno..Read More
Once the decision is made to set up a SMSF, there are steps that must be followed to get it established. There are five key steps to establishing a SMSF. Each step should be accomplished in order to move onto the next and ultimately have a compliant SMSF that reaps benefits. Step 1: Establish the..Read More
A self managed super fund, also known as a SMSF, is an Australian superannuation fund that allows its members to manage and ultimately gain funds once they have retired. Superannuation funds have been in existence for many years, but in more recent years, the Australian SMSF has seen tremendous pop..Read More
While do-it-yourself types of superannuation have been available for many years, SMSFs really have come into their own over the last few years. As far as the asset value and the number of SMSFs goes, it is apparent that the SMSF sector has a much larger presence among supers. According to asset valu..Read More