Superannuation is one of the most tax effective ways for creating wealth for your future and your retirement. Setting up your own Self Managed Super Fund (SMSF) will give you the flexibility to take control of your super money and where it is invested.

The sole purpose of an SMSF is to provide retirement benefits for the members or their dependents. SMSF’s work in much the same way as retail funds although when you set up your own SMSF you become a trustee and a member of your Fund. Whilst you have responsibilities as a trustee and your investments need to be monitored to ensure that they are working for you, there are many benefits which include:

~ a low income tax environment
~ the ability to invest in a wide range of assets
~ the ability to borrow to purchase assets
~ greater control over the management of your assets
~ retirement flexibility, asset protection and succession planning

There are costs involved in setting up your SMSF as well as accounting and audit costs each year. For many, the benefits and flexibility to be in control outweighs the costs and administration of managing your Fund.