Self Managed Super Funds (SMSF) – Why manage your own super?
With a SMSF you control all aspects of your super…
Your risk profile is determined by considering your current financial position, your needs and goals and how comfortable you are with certain investments and market movements.
Investments that suit your profile are then selected. For instance, a fund can hold:
• Shares in listed companies in Australia and overseas.
• Direct property.
In a SMSF the tax can be controlled for example, you can:
• Defer payment of tax rather than it being taken directly from your contributions to the fund.
• Reduce tax below 15% by investing in Australian companies paying franked dividends.
• Minimise and even eliminate capital gains tax.
In a SMSF you can choose the type and level of cover that suits you, although be aware that TPD payments must follow the same conditions of release as your super.
With many people living in more complex family relationships, “who gets your super when you die” is a key issue. In a SMSF you have absolute control and can ensure your wishes are met.
Self-Managed Super Funds do not suit everyone but they do provide the potential for more people to take control of their financial future.
It is recommended you always seek advice from a professional SMSF adviser.
This information has been prepared by Primestock Securities Limited ABN 67 089 676 068, AFSL 239180 (“Prime”). Prime accepts no obligation to correct or update the information or opinions in it. This information does not take into account your objectives, financial situation or needs. Before acting on this information, you should consider whether it is appropriate to your situation. It is recommended that you obtain financial, legal and taxation advice before making any financial investment decision. Prime is bound by the Australian Privacy Principles for the handling of personal information.