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Self-Managed Super Fund Advice
SMSFs can be an effective way to manage your retirement savings and gain greater control over your investment decisions.
“They helped us set up investments and our SMSF for us, and throughout the process, we learned a lot about SMFSs’ and feel extremely comfortable with our investment strategy and decisions. The staff are very thorough and I would recommend them to anyone at any time. I wish I’d come across the team years ago.” – Nick Francis
Self-Managed Super Fund Advice
SMSFs can be an effective way to manage your retirement savings and gain greater control over your investment decisions.
“They helped us set up investments and our SMSF for us, and throughout the process, we learned a lot about SMFSs’ and feel extremely comfortable with our investment strategy and decisions. The staff are very thorough and I would recommend them to anyone at any time. I wish I’d come across the team years ago.” – Nick Francis
Using a SMSF to maximise your superannuation balance
Self-managed super funds (SMSFs) are another way of saving for your retirement. The key difference between an SMSF and other types of funds is that the members of an SMSF are usually also the trustees. This means the members of the SMSF run it for their benefit and are responsible for complying with the super and tax laws.
Although titled ‘self-managed’, an SMSF is not something that should be attempted without professional guidance to support you.
As a guide, SMSFs are better suited to those:
- With a current superannuation balance (individual or combined) of greater than $200,000
- Who want to use their superannuation to invest in property
- In possession of a clear financial plan for how to best manage their SMSF
- With a firm grasp of investment knowledge
- Who have the help of a team of expert financial advisors to guide them
If you satisfy these guidelines you may find there are benefits to an SMSF that can make them more attractive than traditional superannuation funds, these include:
- Greater control and flexibility over your SMSF investment decisions
- Effective tax management controls
- Greater engagement with your Superannuation.
These benefits do require the SMSF trustees to be vigilant and actively involved with the decision making and ongoing compliance of their fund. There are also significant costs – such as planning, accounting and compliance – associated with setting up and running an SMSF. This means they are more suited to those with large balances who can ensure the investment growth exceeds the related costs.
Because of the costs and compliance associated with an SMSF, the help of a professional financial advisor has never been more important.
Using a SMSF to maximise your superannuation balance
Self-managed super funds (SMSFs) are another way of saving for your retirement. The key difference between an SMSF and other types of funds is that the members of an SMSF are usually also the trustees. This means the members of the SMSF run it for their benefit and are responsible for complying with the super and tax laws.
Although titled ‘self-managed’, an SMSF is not something that should be attempted without professional guidance to support you.
As a guide, SMSFs are better suited to those:
- With a current superannuation balance (individual or combined) of greater than $200,000
- Who want to use their superannuation to invest in property
- In possession of a clear financial plan for how to best manage their SMSF
- With a firm grasp of investment knowledge
- Who have the help of a team of expert financial advisors to guide them
If you satisfy these guidelines you may find there are benefits to an SMSF that can make them more attractive than traditional superannuation funds, these include:
- Greater control and flexibility over your SMSF investment decisions
- Effective tax management controls
- Greater engagement with your Superannuation.
These benefits do require the SMSF trustees to be vigilant and actively involved with the decision making and ongoing compliance of their fund. There are also significant costs – such as planning, accounting and compliance – associated with setting up and running an SMSF. This means they are more suited to those with large balances who can ensure the investment growth exceeds the related costs.
Because of the costs and compliance associated with an SMSF, the help of a professional financial advisor has never been more important.
How does an SMSF compare to traditional Super Funds?
Greater Control over your Superannuation investments
SMSFs provide you with more control over your money than any other type of superannuation fund. Not only can you invest in a broader range of asset classes, such as cash, fixed interest, property, shares, managed funds etc, you also have greater transparency with your investment strategy because you are able to see exactly what you’re invested into rather than receiving a statement every six to twelve months
An SMSF can borrow money to invest
The ability to borrow money in an SMSF via a limited recourse borrowing arrangement (LRBA) means that you are able to use the power of leverage in your superannuation. Not only does this give you the opportunity to control a larger asset base than you would otherwise be able to control in your superannuation, but it also provides you with the opportunity to establish a geared investment property portfolio inside your superannuation
An SMSF has the ability to invest in direct property
When compared with an investment property owned in your personal name, a property in SMSF enables you to invest in property with minimal to no disruption to your personal finances and provides greater enduring tax benefits once you reach retirement.
Although the negative gearing benefits are reduced due to the low tax rate super environment, once you reach retirement and switch to pension phase, the rental income generated by your investment property is tax free, as are any capital gains realised on the sale of the property.
Combine super balances to give the SMSF members a larger capital base to Invest
An SMSF allows you to have up to four members in the fund, so combining your superannuation with other parties can reduce the number of fees that you are paying and give the SMSF members a larger capital base to Invest.
Switch to a Flat-Fee Structure
An SMSF is administered each year by an accountant so it is an accounting-based fee that is charged which is usually a flat-fee. An accountant is generally not concerned whether there is, for example, $300,000 or $400,000 in the fund, if the same amount of accounting work is involved, then the fee will usually be the same.
Greater tax planning and minimisation control
SMSFs are increasingly tax efficient when compared with traditional superannuation funds, Not only can SMSFs enjoy tax efficiencies from timing contributions to defer contributions tax, interest deductions from borrowing money and depreciation allowances when investing in property, but an SMSF is also extremely tax efficient come retirement because assets can be segregated to specific members rather than forming part of a pooled investment strategy as is the case in traditional superannuation funds.
Greater engagement with your Superannuation
There are several factors that contribute to this conclusion, but the practical reality of having more control, greater transparency and increased responsibility means that having an SMSF encourages fund members to be more proactive with their superannuation as there is a greater sense of ownership, value and purpose involved.
Tax deductions can be passed on to family members
Increased flexibility within an SMSF means that substantial tax deductions can be passed onto SMSF family members through strategies like Future Service Benefit Deduction.
More tools available to transfer wealth to the next generation
An SMSF lets you structure tax effective income streams for dependents rather than providing a lump sum payment which can be particularly useful if you are leaving money to a young child or other beneficiaries who would struggle to manage the distribution properly if they received it as a lump sum.
“…They rebalanced my portfolio to better prepare me for retirement and they more than halved my superannuation fees and charges by moving me into a Self-managed Super Fund and streamlining my approach to investing. I couldn’t be more delighted with the service that I have received from Wealth Seekers and I would highly recommend them to anyone who is looking for a genuine, professional and well-researched approach to putting a financial plan in place.” – Ronald John
How does an SMSF compare to traditional Super Funds?
Greater Control over your Superannuation investments
SMSFs provide you with more control over your money than any other type of superannuation fund. Not only can you invest in a broader range of asset classes, such as cash, fixed interest, property, shares, managed funds etc, you also have greater transparency with your investment strategy because you are able to see exactly what you’re invested into rather than receiving a statement every six to twelve months
An SMSF can borrow money to invest
The ability to borrow money in an SMSF via a limited recourse borrowing arrangement (LRBA) means that you are able to use the power of leverage in your superannuation. Not only does this give you the opportunity to control a larger asset base than you would otherwise be able to control in your superannuation, but it also provides you with the opportunity to establish a geared investment property portfolio inside your superannuation
An SMSF has the ability to invest in direct property
When compared with an investment property owned in your personal name, a property in SMSF enables you to invest in property with minimal to no disruption to your personal finances and provides greater enduring tax benefits once you reach retirement.
Although the negative gearing benefits are reduced due to the low tax rate super environment, once you reach retirement and switch to pension phase, the rental income generated by your investment property is tax free, as are any capital gains realised on the sale of the property.
Combine super balances to give the SMSF members a larger capital base to Invest
An SMSF allows you to have up to four members in the fund, so combining your superannuation with other parties can reduce the number of fees that you are paying and give the SMSF members a larger capital base to Invest.
Switch to a Flat-Fee Structure
An SMSF is administered each year by an accountant so it is an accounting-based fee that is charged which is usually a flat-fee. An accountant is generally not concerned whether there is, for example, $300,000 or $400,000 in the fund, if the same amount of accounting work is involved, then the fee will usually be the same.
Greater tax planning and minimisation control
SMSFs are increasingly tax efficient when compared with traditional superannuation funds, Not only can SMSFs enjoy tax efficiencies from timing contributions to defer contributions tax, interest deductions from borrowing money and depreciation allowances when investing in property, but an SMSF is also extremely tax efficient come retirement because assets can be segregated to specific members rather than forming part of a pooled investment strategy as is the case in traditional superannuation funds.
Greater engagement with your Superannuation
There are several factors that contribute to this conclusion, but the practical reality of having more control, greater transparency and increased responsibility means that having an SMSF encourages fund members to be more proactive with their superannuation as there is a greater sense of ownership, value and purpose involved.
Tax deductions can be passed on to family members
Increased flexibility within an SMSF means that substantial tax deductions can be passed onto SMSF family members through strategies like Future Service Benefit Deduction.
More tools available to transfer wealth to the next generation
An SMSF lets you structure tax effective income streams for dependents rather than providing a lump sum payment which can be particularly useful if you are leaving money to a young child or other beneficiaries who would struggle to manage the distribution properly if they received it as a lump sum.
“…They rebalanced my portfolio to better prepare me for retirement and they more than halved my superannuation fees and charges by moving me into a Self-managed Super Fund and streamlining my approach to investing. I couldn’t be more delighted with the service that I have received from Wealth Seekers and I would highly recommend them to anyone who is looking for a genuine, professional and well-researched approach to putting a financial plan in place.” – Ronald John
Setting up your Self-Managed Superannuation Fund
Our accredited SMSF advisors are experienced in helping clients use their SMSF to purchase everything from property to precious metals.
However, it is important to understand which investments are the right choice to help you meet your short, medium and long-term financial goals. This is where the support of a team of experienced financial advisors can support your SMSFs requirements.
We can help you tackle every step of the self-managed super fund process with the confidence only professional guidance can provide.
Whether you want to know more about which type of investment will put your superannuation to best use or are just looking for an experienced partner to guide you through the SMSF process, we’re here for you.
Setting up your Self-Managed Super Fund
Our accredited SMSF advisors are experienced in helping clients use their SMSF to purchase everything from property to precious metals.
However, it is important to understand which investments are the right choice to help you meet your short, medium and long-term financial goals. This is where the support of a team of experienced financial advisors can support your SMSFs requirements.
We can help you tackle every step of the self-managed super fund process with the confidence only professional guidance can provide.
Whether you want to know more about which type of investment will put your superannuation to best use or are just looking for an experienced partner to guide you through the SMSF process, we’re here for you.
Is a Self-Managed Super Fund right for you?
We have an extensive process for determining your suitability for SMSF and providing professional suppot for tackling every step of the self-managed super fund process in a confident and compliant way.
Your team of financial advisors can help you:
- Answering any and all questions you may have
- Clearly explaining the costs and obligations that come with having an SMSF
- Helping you decide whether an SMSF is the right option for you
- Working with you to set up and run your SMSF fund
- Reviewing your current super fund
- Making sure that you will have enough super for retirement
- Helping you choose the right investment strategies for your unique financial situation
At Wealth Seekers, we aim to empower you to walk your financial journey with the confidence that comes from knowing your financial future is secure.
Super forms a fundamental aspect of your overall financial plan, one that will help you to create your dream retirement.
Don’t let a lack of attention prevent you from reaching your short, medium and long-term financial goals.
Is a Self-Managed Super Fund right for you?
We have an extensive process for determining your suitability for SMSF and providing professional suppot for tackling every step of the self-managed super fund process in a confident and compliant way.
Your team of financial advisors can help you:
- Answering any and all questions you may have
- Clearly explaining the costs and obligations that come with having an SMSF
- Helping you decide whether an SMSF is the right option for you
- Working with you to set up and run your SMSF fund
- Reviewing your current super fund
- Making sure that you will have enough super for retirement
- Helping you choose the right investment strategies for your unique financial situation
At Wealth Seekers, we aim to empower you to walk your financial journey with the confidence that comes from knowing your financial future is secure.
Super forms a fundamental aspect of your overall financial plan, one that will help you to create your dream retirement.
Don’t let a lack of attention prevent you from reaching your short, medium and long-term financial goals.
Want to get your superannuation sorted and wondering what to do next?
Book your free appointment
Your team of professional financial advisors specialise in ensuring your super is positioned to help you create your dream financial future. We’re always in your corner, so you won’t have to go another minute with your questions unanswered.
If you are looking for Self-managed superannuation fund advice in Brisbane, our financial advisors can help you track and stay on top of your funds.
Get in touch today to clean up your superannuation and ensure your financial future is secure.
“…We are so happy with the advice, our SMSF and the amazing support we received. I say this with absolute confidence, if you are thinking about getting advice, this is the company to talk to.” – Michelle Campbell
Want to get your superannuation sorted and wondering what to do next?
Book your free appointment
Your team of professional financial advisors specialise in ensuring your super is positioned to help you create your dream financial future. We’re always in your corner, so you won’t have to go another minute with your questions unanswered.
If you are looking for Self-managed superannuation fund advice in Brisbane, our financial advisors can help you track and stay on top of your funds.
Get in touch today to clean up your superannuation and ensure your financial future is secure.
“…We are so happy with the advice, our SMSF and the amazing support we received. I say this with absolute confidence, if you are thinking about getting advice, this is the company to talk to.” – Michelle Campbell
Want to know more about…
Using your SMSF to invest in property has both benefits and limitations. With a team of experienced SMSF advisors in your corner, you’ll be able to navigate all of the fine details with confidence.
Want to know more about…
Using your SMSF to invest in property has both benefits and limitations. With a team of experienced SMSF advisors in your corner, you’ll be able to navigate all of the fine details with confidence.
We’ll be with you every step when it comes to navigating the world of super funds.
We understand finding the right super fund for you can be a challenge.
