Take Control Of Your Super
Self Managed Super Fund (SMFS)
Increased Control
Flexibility
Tax Benefits
Professional Support
Protect Your Super with Expert Self Managed Super Fund Guidance You Can Trust.
Take Control of Your Retirement with Self Managed Super Funds
A Self Managed Super Fund (SMSF) is a private super fund that you manage yourself. Unlike industry and retail super funds, the members of an SMSF are usually also the trustees, meaning you run it for your benefit and are responsible for complying with super and tax laws.
Some benefits of an SMSF include increased control, flexibility, taxation benefits, and a wide range of investment options. However, managing an SMSF comes with significant responsibilities and risks, making professional advice crucial.
At Aspiram Financial Planning, we provide expert guidance to help you navigate the complexities of managing your own super fund, ensuring you maximize your benefits and comply with all legal requirements.
Take Control of Your Super with an SMSF
Discover the potential benefits of managing your own super with a Self Managed Super Fund.
Why Choose Us?
Comprehensive Expertise
Our team has extensive knowledge of SMSF regulations and best practices to ensure your fund is set up and managed correctly.
Tailored Strategies
We provide personalized advice to match your specific financial situation and retirement objectives.
Ongoing Compliance Support
Stay compliant with all super and tax laws with our continuous support and guidance.
Holistic Approach
We consider your entire financial picture, integrating your SMSF with your broader retirement and investment plans.
FAQ
Frequently asked questions.
What are self managed super funds (SMSFs) and how do they work?
Self managed super funds (SMSFs) are superannuation funds that allow individuals to manage their own super savings. Unlike managed super funds, SMSFs provide members with the flexibility to make their own investment decisions and control their retirement benefits. SMSFs must adhere to strict rules set by the Australian Taxation Office (ATO).
Who can be SMSF trustees and what are their responsibilities?
SMSF trustees can be individuals or a corporate trustee. Trustees are responsible for making all investment decisions, ensuring the fund complies with legal requirements, and providing retirement benefits to fund members. They must follow strict rules and maintain accurate records to ensure the fund operates correctly.
What are the potential benefits of having your own SMSF?
Having your own SMSF allows you to take control of your super savings and investment strategy. Potential benefits include the ability to directly invest in property, tailor insurance options, and have greater flexibility in managing your retirement benefits.
How do SMSF trustees make investment decisions?
SMSF trustees are responsible for developing and implementing an investment strategy that aligns with the sole purpose of providing retirement benefits to fund members. This includes deciding how to invest the funds and ensuring compliance with relevant regulations.
Can an SMSF be used to buy property and other assets?
Yes, an SMSF can be used to buy property as part of its investment strategy. However, the investment must comply with the sole purpose test and other strict rules set by the ATO. SMSF trustees must also ensure that the property investment aligns with the fund’s overall strategy.
What are the fees associated with managing an SMSF?
Managing an SMSF involves various fees, including setup costs, annual administrative fees, audit fees, and investment-related fees. It’s essential to consider these fees when deciding whether to establish an SMSF and ensure they are justified by the potential benefits.
How do SMSFs provide retirement benefits?
SMSFs provide retirement benefits by investing the super savings of its members. The investment returns generated by the fund are used to pay retirement benefits to the members once they reach the appropriate age or meet other conditions of release.
How can a licensed financial adviser help with SMSFs?
A licensed financial adviser can provide valuable guidance on managing self managed super funds. They can help with creating an investment strategy, understanding SMSF regulations, and ensuring that the fund complies with legal requirements, enhancing the potential benefits of the SMSF.
What is the difference between SMSFs and managed super funds?
The primary difference between SMSFs and managed super funds is the level of control over investment decisions. SMSF members have direct control over their investments, whereas managed super funds are managed by professional fund managers on behalf of the members.
What are the strict rules that SMSF trustees must follow?
SMSF trustees must follow strict rules set by the ATO, including compliance with the Superannuation Industry (Supervision) Act 1993. These rules cover investment restrictions, contribution limits, and the sole purpose test, ensuring that the fund operates solely to provide retirement benefits.
