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A self-managed super fund (SMSF) offers you greater control over your investment choices. But like any investment strategy, there are pluses and minuses, so seeking expert advice for your unique situation is vital. Despite the moniker ‘self-managed’, establishing and managing an SMSF is not something that should be attempted without professional guidance.

The Charter Tax Partners team are your trusted source of guidance when it comes to deciding whether an SMSF is the right option for you. If together we decide this is an appropriate investment strategy we will then set a clear ongoing plan for managing your SMSF that will ensure you’re on track to create your dream financial future.

The benefits of a SMSF:

  • Control - SMSFs allow trustees to align their personal goals with their investment decisions. For example, you may be passionate about supporting environmental and ethical organisations. A SMSF allow you to better understand where your money is invested, with visibility and transparency over performance and tax treatment.
  • Tax Strategy - One of the main benefits of a SMSF is the savings on Capital Gains Tax due to being able to invest in direct property and delay the sale of the asset until your funds are in pension phase.
  • Investment choice – there are more investment options available than in industry super funds, including direct access to residential and commercial property, high interest cash accounts, direct shares, terms deposits, hybrid income investments, unlisted assets, and international shares
  • Consolidate superannuation assets - A SMSF currently allows up to 4 members, such as partners or family members, which means you immediately have a larger fund balance to invest. Consolidation of superannuation accounts increases the investment opportunities with only one set of fees, but must be managed carefully and fairly.

The trade-offs are:

  • Time – Even with expert advisors on your team, a SMSF requires a significant time investment throughout the year to ensure effective management
  • Cost – compliance, accounting and planning are all costs associated with setting up and running an SMSF

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