With the additional control and flexibility that you obtain through a SMSF there is also greater responsibility. The legislation regarding your superannuation benefits are complex and regularly updated. You are responsible.
Prior to setting up a SMSF you should consider matters including:
- The establishment and ongoing costs of running a SMSF
- Understanding your obligations as a member and trustee. If you get it wrong it is your responsibility and there can be significant consequences.
- You will make the investment decisions. These decisions will affect your investment returns. Do you have time? Will your decisions comply with the superannuation and taxation legislation?
It all sounds a bit daunting. Our professional advisors can assist you with understanding your obligations and help to simplify some of the processes for you including:
- Establishing your Self-Managed Superannuation Fund
- Provide you with administration services through our online portal
- Advise on taxation and compliance issues
- Liaising with your financial planners or referring you to a financial planner
- Superannuation Audits