26 Mar What is an SMSF and is it right for you?
The market share of SMSFs have been on the rise, with SMSFs accounting for 30% of Australian superannuation funds. This is because more Australians want to have a control on managing their own super.
What is a self-managed super fund (SMSF)?
An SMSF is a private super fund that you manage yourself and is regulated by ATO. It cannot have more than four members and members must also be trustees responsible for all decisions related to fund. Since the trustees have more responsibility, they typically delegate some of them to financial advisors. At iAdvice, we provide personalised service to SMSF trustees to assist you in setting up, administering and running your SMSF.
How does an SMSF work?
The purpose to establish an SMSF is to provide financial benefits to members in retirement and their beneficiaries. SMSF have its own Tax File Number (TFN), Australian Business Number (ABN) and bank account. All SMSF investments are controlled by the trustees and are made in the name of fund.
Specialists accredited to provide SMSF advice help you in assessing whether SMSF is right for you. They also help in compliance, investment and administration of your SMSF. iAdvice have SMSF Advisers to provide comprehensive services to SMSF trustees related to compliance, investment and administration related decisions.
Want to know more?
To receive advice and help on your retirement planning and budgets, click this link to book a 15-minute discussion with an expert from iAdvice – the first discussion is at our cost and not yours. Alternatively, you can visit our website at www.iadvice.net.au , our Facebook or Twitter to reach us and retrieve further information on this topic. Willingness to help is our game at iAdvice.