Self Managed Super Funds have been growing in popularity in Australia for a number of years now as Australians seek more control over where there funds are invested. The ATO reports that–March-2013/ almost half a million Australians use Self Managed Super Funds, which is an increase of 27% from 2012. Your Corner can help you setup a variety of super funds, and SMSFs are a big part of what we do.

What are SMSFs (Self-Managed Super Funds)?

SMSFs are a superannuation scheme that gives you the control of where your superannuation funds are invested. The distinguishing feature of a self-managed fund is that its trustees are also the member of the fund. This means, not only do SMSFs allow you to exert a greater degree of control over your funds, but these are also set up for your own benefit.

How Do SMSFs Work?

Typically, SMSF’s are established for yourself or a small group of individuals, limited to four people. SMSFs allow you to make direct investments into shares and property (with some limitations), and the trustees are responsible for running the funds and making sure they comply with the legal requirements.

Benefits of SMSF

There are many benefits of having a self managed superannuation fund, which include:

  • More flexibility in your investment choices
  • Greater control over assets selection
  • Tax management on your capital returns and investment income
  • The ability to pool and put together your financial resources with up to four other members, who may share the same financial objectives, such as your family members
  • Direct Investment in property

Your Corner Consultancy

Self-managed super funds can be tricky to manage on your own without any professional advice and consultancy. This is where Your Corner comes in. Your Corner help you establish the SMSF in the right way and have the appropriate controls in place. Moreover, our consultants guide you on effective fund management and the dos and don’ts of SMSF.

Call us today to learn more about the right way to setup an SMSF!