What are SMSFs?
SMSFs are superannuation funds which are established and operated by the trustees of the fund. Under the superannuation rules, the members of an SMSF are required to act as a trustee of the fund or as a director of the fund’s corporate trustee, and are legally responsible for managing the fund in accordance with a strict set of legal requirements.
Structure of an SMSF
An SMSF is composed of a number of key elements. These include:
What are the benefits of SMSFs?
Because SMSFs are self-managed they can be more flexible and give members more control over how their super savings are invested and managed. For example, SMSFs can allow members to:
Setting up a limited recourse borrowing arrangement (LRBA) within a self managed super fund (SMSF) can allow you to gear your super and invest in asset classes, such as direct property and shares. However, the rules are complex and require specific arrangements to be put in place. SMSF trustees should therefore seek specialist advice to help them navigate these rules and to understand the risks involved.
One of the advantages of self-managed super funds (SMSFs) is the ability to acquire a business real property (BRP), such as a commercial property, a shop or even a farm through your SMSF. The property can then be leased back to a member to use in a business.
Insurance is an important consideration for all of us. But for SMSF trustees, there is a legal requirement to consider the need to hold insurance cover for each of their members. Player Hall can help with these insurance needs.
Many investors have a personal share portfolio. When it comes to your SMSF, did you know that you can contribute more than simply cash? You are also able to contribute listed shares (must be in line with contribution caps detailed in SIS regulations).
SMSF Financial Planning Services provided as an authorised representative of Count Financial Limited AFSL 227232.