Six Key Benefits of Self-Managed Super Funds
by Lucas Austin work together to simplify your tax, accounting andA
self-managed super fund (SMSF) is a superannuation trust where the members are
also the trustees. An SMSF can have one to four members, and as trustees,
members have total control over the fund. While industry and retail super funds
are designed to benefit a sizeable group of members with decisions based on
shared interests, an SMSF is tailored to meet individual’s needs.
Consulting
with a qualified Financial Advisory Firm WA can help ensure that you attain
your financial desires and goals through suitable, tailored services to meet
your individual retirement needs.
An
SMSF in Perth offers members many key benefits including:
1. Choice of Investment
SMSFs
provide members with more investment options than other super funds. Investment
trustees can access include direct shares. Term deposits, high-yielding cash
accounts, direct property, income investments, international markets, unlisted
assets, collectables, and more.
2. Great Flexibility
SMSFs
offer members to operate a mixture of pension and accumulation accounts.
Trustees of the fund have the ability to adjust their investment mix as it
benefits them, which allows for a quick response to changes in super rules,
market conditions, or individual circumstances.
3. Tax Strategies
As
with all super funds, concessional tax rates are beneficial to SMSFs. In the
accumulation phase of the fund, there is a 15 percent tax cap on investment
income; in the pension phase of the fund, there is no tax payable, this
includes capital gains tax. As trustees move into retirement, well-thought-out
tax strategies can help them increase their super savings and lessen tax
payments. You’ll need to find a company who offers Business Consulting Services
WA to help with this.
4. Significant Transparency
Transparency
offered by the SMSF allows members to align their investment decisions with
their personal goals. Whether you are passionate about shares, ethical, or
property investing, a SMSF provides complete visibility over tax treatment as
well as performance.
5. Cost-Effective
An
annual tax return and audit must be lodged by the SMSF trustees. ATO fees must
be paid annually as well. The more the fund increases, the more cost-effective
it becomes. A good Financial Advisory Firm WA can advise you on this subject.
6. Consolidation
Trustees
of an SMSF can combine their super assets with 1-3 other members, such as
family members or partners. The ability to consolidate super accounts,
instantly creates a greater fund balance. This larger fund balance increases the
fund’s investment opportunities and assets, but with only one set of fees.
Ensure your future is secure by engaging Business Consultant Perth, or a reputable Financial Advisory Firm WA, who can guide and educate you in your self-managed super fund. Contact Armada Accountants and Advisors today to learn how we can help you establish an SMSF and reap the benefits.
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Created on Jan 9th 2019 05:12. Viewed 564 times.