SELF MANAGED SUPER FUND - SMSF
A Self Managed super fund (SMSF) is a great way to manage your savings for retirement, however it is subject to strict compliance obligations and administration management.
Benefits of an SMSF
· Gives you greater control of where and how your funds are invested
· Ability to develop your own strategies
· An SMSF can offer greater flexibility for estate planning.
· An SMSF can be a cost effective solution.
In addition there are several trust laws and legislative requirements for setting up a self-managed superannuation fund (SMSF). Typically you need to:
- Obtain a trust deed
- Appoint trustees
- Sign a trustee declaration (NAT 71089)
- Elect to become a regulated fund
- Obtain a tax file number (TFN)
- Obtain an Australian business number (ABN)
At Hayes Girling Financial we can help you decide whether the SMSF is suitable for you, we have the training and experience to help you understand your financial needs and assist you in making decisions that will be in line your long term financial plan whilst greatly simplify the process for you.
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