Things to Know Before Going for SMSF - PowerPoint PPT Presentation

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Things to Know Before Going for SMSF


Self-managed super funds (SMSFs) are a way of saving for your retirement. Once you've decided an SMSF is right for you, it's important to understand a few things before going for SMSF call on 1800 883 007. – PowerPoint PPT presentation

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Title: Things to Know Before Going for SMSF

Things To Know Before Going For SMSF
Self-managed super funds (SMSFs) are a way of
saving for your retirement.
  • Self managed super funds (SMSFs) is the fastest
    growing area within the superannuation industry
  • Many people are still curious to enter this area
    of the superannuation market

How Does SMSF Work?
  • An SMSF is a legal tax structure whose only
    purpose is to secure your retirement. SMSFs
    operate under similar rules and restrictions as
    ordinary super funds
  • When you run your own SMSF you must
  • Carry out the role of trustee or director, which
    entails important legal responsibilities on you

  • Set and follow an investment scheme that is
    suitable for your risk tolerance and is likely to
    meet your retirement requirements
  • Have the financial skills and experience to make
    sound investment choices
  • Have enough time to research investments and
    manage the fund
  • Budget for fragmentary expenses, such as
    professional superannuation accounting service,
    tax, audit, legal and financial advice

  • Keep comprehensive documentations and arrange an
    annual audit by an approved SMSF auditor
  • Organise insurance, including income
    protection and total and permanent
    disability cover for super fund members
  • Use the money only to offer retirement profits

SMSF Advisors
  • A professional who is licensed to provide SMSF
    advice can help you weigh up the pros cons of
    running an SMSF to decide whether it's correct
    for you. They can help with the administration
    investment decisions for your SMSF. But remember,
    you cannot pass on the responsibility of being a
    trustee or director, so you must understand what
    your adviser is doing

Ongoing SMSF Advice
  • The type of ongoing advice you choose will depend
    on the requirements of yours
  • For example, you might use a financial adviser or
    broker for financial advice and an accountant for
    the management of the fund
  • SMSF advisers must be licensed to provide this
    type of advice
  • You can contact us to find out the details about
    SMSF licensing accountants.

Contact Us
  • SMSF Professionals
  • Suite 7/104 Wigram Street, Harris Park, NSW 2150
  • 1800 883
  • https//
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