Under Australian superannuation law, you can choose to contribute your personal superannuation contributions (and in some cases direct your employer to pay employer contributions) to a superannuation fund of your choice.
A SMSF is a small superannuation trust that has the primary purpose of providing retirement benefits, where the members acts as trustees. This means you control & run your own superfund by investing in what you want, when you want! You can read more about Self Managed Super Funds here.
Ato's Guide to self-managed superannuation funds
SMSF's can invest in a wide selection of direct investments or professional managed assets. You decide the level of risk you are willing to take & invest accordingly.
Different rules apply to single member funds & in some circumstances, certain other people can act as a trustee (or a director of a corporate trustee). Prosperity Accounting Group can provide you with financial advice to assist you in determining how to structure your superannuation fund.
Through a self managed superfund, you can enjoy significant investment freedom allowing you to build a portfolio that precisely suits your needs.
FREEDOM
You can have greater investment freedom (virtually any legitimate investment is possible). Certain personal assets such as listed shares & business real property may be transferred in-specie or purchased by the fund.
STABILITY & SECURITY
The rules governing SMSF's are designed to give you every opportunity to protect your own superannuation. You will feel safer knowing you are a trustee of your own investment allowing you to actively participate in the management of the fund. The money & investments of the fund are therefore in your hands, allowing you to know exactly where they are invested & how they are performing.
TAX EFFICIENCY
Investments will perform better in a secure & tax-efficient environment of SMSF's where your marginal rate of tax is higher than the fund tax rate.
At Prosperity Accounting Group, we're experts in a number of key areas including Accounting, Taxation, Audit, Finance, Wealth Management, Business Advisory, Personal Insurance and Superannuation. We are committed to providing customized solutions and creating wealth for our clients.
Superannuation can be complicated. And even though you may be interested in starting a SMSF, that doesn't mean you have to figure it all out yourself. Prosperity Accounting Group can offer you the most experienced and qualified staff to assist you in setting up, administering and managing your SMSF as well as answering any questions immediately, saving you time and money We'll always consider your entire financial situation before offering advice and we make sure that all the different facets of your financial world are working together in precise synergy to produce the best possible result. This holistic approach is what sets us apart from other accountants.Contact us today
