Are you wondering what is a Self-managed Super Fund (SMSF) and how it works?
What is a SMSF?
A SMSF is a trust set up to create wealth for your retirement. It can pool family member funds for a variety of investments such as shares, properties (such as your business premises), private loans to non related person, term deposits, unlisted share or trust investments.
SMSFs offer some very real benefits to members but, at the same time, carry responsibilities and obligations. Easch year for instance you must complete a tax return and have it audited by an independent registered auditor.
The great thing about Super is that it is a low tax environment. It taxes your earnings at 15% before you retire and 0%tax after you retire. So if you plan to make a big capital gain on property or shares, this is where to own it.
What are the advantages of a SMSF?
- Contributing to Super can be tax deductible,
- The low or concessional tax rate,
- Greater range of investment opportunities,
- pooling of family super to increase purchasing power
- Having control over the fund. This allows you to chose a flexible investment strategy that suits your circumstances.
- A SMSF can be tailored to meet your own family circumstances in relation to estate planning. You can include family members as long as there are no more than 4 members in the fund at any given time.
- Save on the investment management fees.
- Having your own SMSF makes it more fun as you build your retirement piggy bank.
For a free meeting to consider whether Self Managed Super Funds are a great solution for you.
Call us now on 08 83374460 to discuss implementing a SMSF in your situation or for a quote on your existing SMSF. We can establish and ensure the tax compliance and audit of your self managed super fund which can save you thousands in tax and unlock your super to create wealth.
One of the worst things to do in retirement in Australia is… not to get behind your Super and grow your wealth. We make it simple for you to have the framework to create wealth in a low tax environment.
One of the best things to do in Super is… is to own property and shares in your SMSF in retirement as it is not taxed on its earnings or capital gains.
Meet us to see if we are the right partner for you to grow your Super, minimise your tax and make your accounting simple and economical.
schedule a free talk about is smsf is for you now or call us on 0883374460