A SMSF gives you total control over how your superannuation is invested. It is a superannuation fund that you can manage yourself. In other words, you can control the investments and decide yourself how the fund will operate. A SMSF is perfect for the DIY Investor who prefers to make their own Investment Choices for their retirement rather than leave their Superannuation to be invested by others.
If you are looking to setup a new SMSF, ASC can attend to all aspects of the setup process. We offer a range of services to assist trustees with their roles and responsibilities in line with SMSF regulations and laws.
ASC’s Self Managed Super Fund Service includes:
- Establishing a trust deed
- Advice on Trustee responsibilities and establishing a corporate trustee
- Setting up a suitable trust structure
- Rollover of existing super into your self managed fund
The main difference between a SMSF and other types of superannuation funds is that the members of a SMSF are also the trustees, or directors of a corporate trustee.
Benefits of a SMSF
Control – The fund assets are controlled by the Trustees who are also the members. The Trustees have responsibility for all decisions.
Family Fund - Up to five members of your family can participate in the fund and reap the rewards.
Secure Income in Retirement - A self-managed superannuation fund offers the most flexible option for taking your benefits in retirement, whether the benefits are taken as a lump sum or pension.
Investment Choice – The Trustees have absolute discretion with respect to the choice and mode of investment.
Taxation - A self-managed superannuation fund enjoys the lowest rate of tax of any entity structure in Australia. The fund pays a maximum rate of tax of 15% and may be reduced by offsetting other tax credits.
Fees – The self-managed superannuation fund fee structure may deliver substantial savings when compared with other retail superannuation funds.
Flexibility - Trustees have the flexibility to make decisions with respect to changing market movements and options for retirement income streams.
Creditor Protection – A member’s fund assets are normally protected from creditors in the event of bankruptcy.
Can the fund provide insurance?
Yes, with a SMSF you can organise life and total and permanent disablement cover to insure the members of the fund. The SMSF pays the cost of the insurance and claims it as a tax deduction, which makes the costs of insurance more tax effective.