Self Managed Super Funds (SMSF)

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Self Managed Super Funds, often referred to as DIY funds, are becoming very popular. Based on information released by the ATO, as at 30 June 2014 there were 534,000 Self Managed Super Funds in Australia. The SMSF sector holds approximately 30% of assets within the superannuation industry. This equates to $557 billion in assets.

Here are some common questions:

So, what is a Self Managed Super Fund?

SMSF's are a superannuation scheme set up to provide retirement benefits for it's members. A SMSF has a maximum of 4 members. The members are responsible for the investment decisions and also complying with the taxation and superannuation laws.

Why would you set up a SMSF?

A SMSF gives you more control over your superannuation and retirement planning. As trustee of the SMSF, you are in charge. You make the investment decisions for the fund.

What do SMSF's typically invest in?

Based on information released by the ATO as at 31 March 2014, the major asset classes for SMSF's were as follows:

cash and term deposits    28.3%
Australian shares 31.1%
direct property 15.4%

Want to know more?

Deciding to set up a SMSF is a decision that needs to be taken seriously. 

If you would like further information or the opportunity to discuss SMSF's with our firm, please contact us to arrange a complementary appointment.

Additionally, see the ATO factsheet on Setting up a self-managed super fund, or watch the video below to learn about what is involved in setting up a SMSF.

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