Superannuation (SMSF) - More Information

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1. Interested in managing your own super fund?
2. SMSF Warning
3. What's in your new SMSF superannuation kit
4. How does your new SMSF kit work?
5. Order your new SMSF kit.

Interested in managing your own super fund?

For the right person or family there are compelling reasons to have your own personal superannuation fund (also called DIY (Do It Yourself) Funds or SMSF (Self Managed Super Fund) Funds. These include:

• Investment flexibility - subject to the rules that apply, you can choose the type of investments you want for your fund, particularly with respect to investing in business real estate;
• Investment control - subject to the rules that apply, you can decide how best to invest the fund's assets; then it's your responsibility to make money for the fund;
• Estate planning - you can tailor the distribution of benefits payable on death in the most tax effective manner for your dependents;
• Cost control - by "doing it yourself" you can avoid paying fees of a middleman; and
• Asset protection - as your superannuation entitlements are partially protected from your creditors you can use your fund to protect at least some of your wealth.

There are a lot of compliance issues surrounding the operations of your own personal super fund, and this compliance comes at a cost. Contact FACCS for an introduction to a firm that can assist you in meeting your compliance obligations. Alternatively, you can contact Townsend Business and Corporate Lawyers who prepared the FACCS Superannuation documentation.

Click here for a list of Superannuation Services provided by Townsends.

SMSF Warning

Self Managed Superannuation Funds (SMSFs) are one of the more complex financial products which are available to retail investors.

As a member of a SMSF you will be involved as a trustee of the fund (or, alternatively, as a director of the company acting as the trustee of the fund). This will require you to be responsible for the administration and compliance of the fund. While you may be able to outsource all or part of these activities, you will remain responsible and will bear the risk that these activities are not properly performed.

Before ordering your SMSF Establishment Kit we strongly recommend that you obtain expert advice as to whether an SMSF is suitable for your circumstances. This advice should also cover the issue of how the administration and compliance activities will be performed.