Want to have more control over your financial future?
A Self Managed Super Fund (SMSF) could help. SMSFs allow people to control their own super investments for their retirement. However, if you set one up you are responsible for running it in accordance with the law, ensuring you are in compliance and reporting to the ATO on its operation.
An SMSF can offer you significant benefits now, and in your retirement. These key benefits of commencing an SMSF include:
- Flexibility and control over investment choice
- Permitted asset transfers to your SMSF
- Greater control over taxation liabilities
- Wealth transfer between generations
- Ability to control costs
- Estate planning
It is important to understand that while there are a number of benefits to establishing an SMSF, there are also a number of considerations and risks that you really need to be aware of. Some of these include trustee responsibilities, cost-effectiveness and insurance cover.
If it all sounds too complex, then have a chat with Gateway Tax & Advisory and we’ll organise for our Licensed Financial Planning Partner to provide you with the right advice to determine whether or not an SMSF is suitable for you and to handle your SMSF setup, administration and compliance needs.