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Why an SMSF?

Self-managed superannuation funds are the fastest growing
sector in the Australian super industry

Self-Managed Superannuation Fund Basics

What is a Self-Managed Superannuation Fund (SMSF)?

What are the Benefits?

What type of investments can I make?

What are my responsibilities as a trustee?

What steps are involved in setting up an SMSF?

What happens after I have established my SMSF?

A Self-Managed Superannuation Fund is a trust regulated by the ATO which satisfies the basic trustee requirements, including:

• Exist for the sole purpose of providing retirement benefits
• Hold less than five members
• All members are trustees of the fund (or directors if a corporate trustee is appointed)
• No trustee of the fund (including directors of the corporate trustee) receive remuneration for any services rendered in relation to the SMSF, except in certain limited circumstances; and
• No member is an employee of another member, unless the members are related

As trustee, you have the power to make the investment decisions and are responsible for the day-to-day operation of the fund.

Increased control you become responsible for making key decisions with your Superannuation fund benefits
Greater choice of Investments you become your own fund manager and make the investment decisions that you want to make
Tax Planning access to flexible retirement and estate planning strategies
Ability to Leverage ability to borrow within your SMSF to fund the purchase of both residential and/or commercial property

Some of the common type of investments in SMSFs include:

• Cash Accounts and Term Deposits
• Listed Shares, Managed Funds and Unit Trusts
• Direct property – including residential, commercial, business and retail premises
• Other investments – including unlisted shares, derivatives and collectibles

Your investment decisions must be made in accordance with your SMSFs investment strategy.

There are also regulatory guidelines and restrictions to consider, however the main premise is that you hold investments for the sole purpose of providing retirement benefits to your members.

Contact us to discuss how you can update or alter your investment strategy.

As a trustee of a Self-Managed Superannuation Fund (SMSF) you have the control over how your fund is operated and the ability to make key investment decisions. This means that you are responsible for managing the fund according to its trust deed and the laws and rules that apply to SMSFs.

The key principle is that you run your SMSF for the sole purpose of providing retirement benefits to members.

As trustee, you will need to fulfil a number of compliance requirements including: fund reporting, record keeping, meeting minutes, statutory obligations, tax, audit and actuarial reporting.

This is where NextGen Super can really help you. We will work closely with you so to ensure that your fund meets all necessary reporting and compliance requirements so that you can rest easy and focus on building wealth for your retirement.

1. Consider and decide on the fund structure
2. Ensure all members are eligible to be trustees
3. Check the residency of your fund
4. Establish a trust deed
5. Appoint trustees
6. Record member Tax File Numbers
7. Open a bank account in the name of the fund
8. Register with the ATO
9. Prepare an investment strategy
10. Rollover other Superannuation benefits

In most cases you will require professional assistance in setting up your SMSF.

At NextGen Super, we can arrange for the entire establishment for as little as $330 including the funds trust deed.

You can begin making key investment decisions based on your documented investment strategy and building the benefits for your retirement.

There’s a lot that needs to be done to maintain your SMSF and keep on top of the yearly compliance requirements.

At NextGen Super, we will act as your personal support network and assist with any of your SMSF queries along the way.

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