Self-Managed Superannuation Funds

I am a SMSF specialist and hold a Limited AFS Licence. I have also completed the SMSF Specialisation course and exam set by UNSW Australian School of Business giving you confidence in my SMSF credentials. I am now a CPA SMSF Specialist.  My credentails allows me to advise you on your SMSF.

Self-Managed Superfunds (SMSFs) are playing an increasingly important role in the super system.

The Australian Taxation Office (ATO) is the regulator of SMSF’s ensuring that SMSF’s maintain a high level of compliance with super and tax laws.

The rules contained in the super legislation ensure that a trustee’s desire for flexibility and control over the management of their SMSF is matched with a strong commitment to protecting the fund’s asset base to enable it to provide members greater security in retirement. Superannuation is a means of saving for your retirement.  For SMSF’s all the members are trustees or directors of a company acting as the trustee of the fund. This means the SMSF’s members run the fund for their own benefit.

This places great responsibility on the trustee members to ensure that that abide by all the rules and regulations pertaining to SMSF’s. Super laws require that SMSF’s have an investment strategy that must be reviewed regular and all investments must be made in accordance with this strategy. There are restrictions on what SMSF’s can invest in; investments must be permitted by super laws as well as the SMSF’s trust deed.

Regulated SMSF’s are taxed at 15%.  To be regulated the fund must comply with the super laws. Non-compliance and breaches could result in penalties being levied against the trustees.  Be aware that under existing super laws there is no government or industry compensation available for SMSF members who suffer losses as a result of fraudulent conduct or theft.

SMSF’s are not suitable for everyone and you should think carefully before deciding to set one up. It is a major financial decision. There are restrictions to when you may withdraw funds from your SMSF.  Your SMSF also needs to meet the Sole purpose test of savings for your retirement.

To assist you in successfully running  your SMSF  (Self- Managed Superannuation Fund) you need advisors to assist you.  I am a Certified Practising Accountant and Registered Tax Agent specialising in SMSF’s having worked with SMSF’s for over 19 years.