The Self-Managed Super Fund (SMSF) is controlled and managed by the members of the fund. Thus, the member, as the trustee, makes all decisions about how the fund is managed, what investments are held, and what types of benefits can be paid out.
The advantages of SMSF are as follows:
Control: SMSF assets are fully under the control of the trustee. The trustee is responsible for making all decisions about where to invest the assets, whether it be in investment properties, stocks, managed funds, or time deposits. You can also opt for SMSF tax return & audit services for free consultation.
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Low Tax: At fifteen percent, SMSF has one of the lowest tax rates of any legal entity.
Do it yourself: Superannuation Warehouse prepares your SMSF for a fee. If not, you can set it yourself.
Asset Protection: In the event of bankruptcy, the assets of an SMSF member are usually protected by creditors.
Retirement Income Control: SMSF offers maximum flexibility and control over the distribution of retirement benefits, whether you want to receive it all at once, invest further or receive it as an annuity is entirely up to you.
Consolidating the retirement age of family members: Designed for custody of four or less, SMSF is a great choice for families of husband, wife, and two older children looking to combine their retirement and purchase an investment property.
The information provided above will assist you in managing your retirement funds through a self-managed retirement fund.