Is a Self-Managed Super Fund right for me?

What is a Self-Managed Superannuation fund?

A Self-Managed Superannuation Fund (SMSF) puts you in charge of your superannuation, you become the manager and trustee of the superannuation fund and can control where and how much of your super is invested.

How does it benefit me?

As well as being able to choose the investments made with your super, up to three other people can be a part of your SMSF. This gives you the opportunity to pool your super together and watch it grow. An SMSF also gives you access to unique opportunities that aren’t available through traditional funds, such as using a portion of your super to purchase property.

How do I know it’s right for me?

Your superannuation represents the life you will be able to enjoy once you retire. With this in mind, it is understandable that you would want to carefully consider the benefits of any superannuation product before committing your nest egg.

A SMSF may be right for you if:

  • You want to control how and where your super is invested.
  • You want to pool your family’s super and grow it together.
  • You want to join the fastest growing super sector in Australia.
  • You want access to alternative investment opportunities, such as property.
  • You want the tools to enable you to directly grow your super.
  • You want to minimise tax and maximise your net retirement benefit.
  • You want to use the flexibility of the SMSF for estate planning purposes.

How do I get started?

Setting up an SMSF is very straightforward, however there are certain considerations you must make before you proceed.

The key questions you should be asking yourself are:

  • Do you understand the compliance requirements that the Australian Taxation Office expects all SMSF managers to abide by?
  • What will the structure of the SMSF be? Will you be pooling your super with anyone else?
  • If you are pooling your super, are all of the other trustees aware of what the SMSF represents?
  • Do you understand how to write an investment strategy? Are you confident in your ability to choose sound investments?
  • Do you have sufficient assets invested in the superannuation environment to achieve the cost efficiencies required to make a SMSF viable?
  • Do you have the time, inclination and ability to establish a fund in accordance with all the various rules and regulations?

Considering the above can make setting up an SMSF seem quite daunting. That’s where Simplex Self-Managed Superannuation comes in. It is recommended that you consult a professional before taking the first steps in setting up a SMSF, working with one of Simplex’s SMSF experts gives you the benefit of their expertise with the administrative requirements as well as their advice on investments. You are still in charge of your super but we can educate and advise, leaving you 100% confident in your decisions and knowing that the experts are on your side.

If you are interested in finding out more about a Self-Managed Super Fund and want to talk to one of our advisors please feel free to contact us:

Ross Manea
SMSF Advisor
+61 8 9367 8321