Gold Coast SMSF financial adviser Reine Clemow

Considering a Self Managed Super Fund (SMSF)?

Unlock the benefits with our comprehensive services:

  • Assistance with SMSF and Bare Trust deeds, essential for property borrowing.
  • Streamlined reporting through Class Super, a leading administration platform.
  • Competitive rates for tax returns and audits.
  • Efficient provision of minutes and compliance documents.
  • Estate planning advice and correct nominations for super distribution.
  • Establishment of a Macquarie CMA or BT Panorama account for your SMSF.
  • Guidance on investment strategy and rollover of funds from existing super.
  • Support in property purchases, handling finance and legal requirements.
  • Beyond property, explore borrowing for investments in blue-chip ASX-listed businesses.

From setup to ongoing administration and investment strategy, we handle every detail. Schedule an appointment to explore the possibilities of an SMSF with us today!”

SMSF Adviser

While a Self Managed Super Fund (SMSF) offers advantages over retail or industry funds, it’s crucial to assess key considerations before setting one up. Wondering if it’s the right choice for you? Let’s explore the factors together.

Lets have a look at a 3 important points:

    1. What is a Self Managed Super Fund (SMSF)?
      • An SMSF is a private superannuation fund that provides members with greater control over their investments and retirement savings. It is managed by the members themselves, allowing for more personalized decision-making.
    2. Advantages of Having Your Own Superannuation Fund:
      • Control and Flexibility: Members have direct control over investment choices, enabling tailored strategies.
      • Tax Efficiency: Potential for tax benefits, including franking credits and capital gains tax concessions.
      • Estate Planning: Greater flexibility in structuring and passing on assets to beneficiaries.
    3. Why You Shouldn’t Set Up an SMSF:
      • Complexity: Requires time and knowledge for proper management and compliance.
      • Cost: Initial setup and ongoing administration expenses can be higher than other superannuation options.
      • Responsibility: Legal obligations and compliance requirements can be onerous for those not well-versed in financial regulations.

    Consider these factors carefully to determine if an SMSF aligns with your financial goals and capabilities.

Here are some advantages of a SMSF.

  1. Greater Control:
    • Direct control over specific asset class holdings, allowing strategic asset purchases.
  2. Cost Efficiency:
    • Generally more cost-effective for large balance sophisticated investors.
  3. Estate Structuring:
    • Easier estate structuring compared to industry or retail funds.
  4. Business Property Holding:
    • Ability to hold business property in the fund and pay rent to your SMSF.
  5. Tax Planning:
    • Control over the tax-effective planning of asset purchases and sales, including managing Capital Gains Tax (CGT) events.
  6. Geared Investment Property:
    • Potential to buy geared investment properties if suitable for your financial goals.
  7. Flexibility:
    • Easy adaptability to changing needs and circumstances.
  8. Tax Savings:
    • Opportunities for tax savings within the SMSF structure.
  9. Accounting Treatment:
    • Flexibility to choose accounting treatment, either Pooled or Segregated.
  10. Family or Business Association:
    • Option to structure the SMSF based on family members or business associates.

While these advantages exist, it’s crucial to evaluate whether they align with your financial goals and circumstances before opting for an SMSF



Things to consider before setting up an SMSF

    1. Limited Membership:
      • Restricted to upto six members in the fund.
    2. Overseas Living and Tax Complications:
      • Complicated if living and working overseas for an extended period, or becoming a non-resident for tax purposes.
    3. Dispute Resolution Challenges:
      • The Financial Ombudsman (FOS) or Superannuation Complaints Tribunal (SCT) is not available for SMSFs, creating challenges in dispute resolution.
    4. Estate Planning Risks:
      • Inadequate estate planning, including Wills, Enduring Powers of Attorney, and Binding Death Benefit Nominations, can result in funds ending up in unintended hands.
    5. Cost Complexities:
      • The combination of tax accounting, auditing, financial planning, and investment platforms can become expensive if not managed in a one-stop-shop arrangement.
    6. Legal and Penalties Complexity:
      • Complex rules are subject to both civil and criminal penalties.
    7. Active Involvement Required:
      • Requires regular involvement; not a “set and forget” approach.
    8. Not Universally Suitable:
      • Not suitable for everyone, and suitability should be carefully assessed based on individual circumstances.

    Before opting for an SMSF, it’s crucial to weigh these considerations against your financial goals and situation.

To discuss if this could be right for your situation please contact us to make an appointment.