A Self Managed Super Fund is a legal structure, regulated by the Australian Taxation Office, with the sole purpose of providing for your retirement. The members of the SMSF run it for their benefit and are responsible for complying with the super and tax laws. If you set-up a SMSF you are in charge of the investment decisions of the SMSF and are responsible for the fund complying with superannuation and tax laws.
Before establishing a SMSF you should consider:
Will my investment decisions outperform my current fund
Do I have the time to administer the fund and ensure compliance within a highly regulated environment
Annual costs to maintain a fund. What can my SMSF invest in
Running an SMSF is complex and time consuming. Carrying out a role of trustee and member of a fund impose important legal responsibilities on you to ensure the money within the fund is invested to provide retirement benefits.
At TSP Accountants we understand the complexity of SMSF and enjoy the challenge of assisting our clients fulfil their retirement dreams. Our partners, David, Deidre and Chris are all approved auditors and are here to help you achieve your goal of a wealthy retirement.