Have an SMSF set up? Thinking of investing it in a property? Let us help.
Self-Managed Super Funds (SMSFs) are private superannuation funds overseen by the Australian Taxation Office, designed to offer retirement benefits to members. The key distinction of SMSFs from other super funds is that members act as trustees, allowing for up to four members to collectively make decisions for the fund. This structure provides trustees with a high level of control to customise the fund to suit their specific requirements.
Managing a Self-Managed Super Fund (SMSF) involves strict compliance with Australian Taxation Office (ATO) regulations. Trustees must ensure that their SMSF adheres to tax laws and complex rules regarding investments, contributions, and audits. Non-compliance can lead to significant penalties, so it's essential to seek professional advice and stay informed about your legal obligations. Our trusted partners can assist with navigating these requirements to ensure your super fund is fully regulated.
SMSFs offer a wide range of investment options, including property, shares, and other assets. However, concentrating too much of your fund into a single investment, like property, can heighten risk. Developing a diversified investment strategy helps manage risk and can maximise returns over the long term. Seeking guidance from a financial adviser can also be beneficial in aligning your SMSF investments with your overall financial situation.
Setting up and running an SMSF can be costly and time-intensive. There are administrative fees, accounting, auditing, and the need to ensure compliance with ATO regulations. Managing the fund requires ongoing expertise, so it's important to evaluate whether you have the time, resources, and knowledge to handle this, or if professional assistance will be required. Of course, we have trusted partners who can help with every aspect, including appointing a corporate trustee, if necessary.
2024 / Mortgage Brokers Co. Jackson McCarthy is a credit representative (488785) of BLSSA Pty Ltd ACN 117 651 760 (Australian Credit Licence 391237)
Disclaimer: This page provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. It does notconstitute legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances.
