- Control over your own Super money.
- The tax rate on earnings is only 15%.
- Can be cheaper to administer. eg Most Fund Managers charge 1% +. On $300,000 invested this is $3,000 pa.
- Can fully utilise Tax Credits that are often lost in Managed Funds.
- Up to 4 people can be members of the Fund.
- After 1 July 2007, if you are over 60 y/o and retired, you can access the funds tax free with no restrictions. Either in lump sums or as a pension.
- After 1 July 2007, if you convert the fund to a Pension Fund (that is take a pension) the earnings are tax free.
- You have to be prepared to make the investment decisions.
- No nice quarterly or half yearly reports unless you do them yourself, or ask us to do them.
- No investment advice provided. Unless you source this separately.
- No one to blame if the investments crash. Except yourself.
- More work in keeping investment information for us to prepare accounts and audit.
- As Trustees you are liable for the correct operation of the Fund.
GLR Accountants Pty Ltd is a Corporate Authorised Representative (ASIC Number 315869) of SMSF Advisers Network Pty Ltd (AFSL No 430062)
ABN 64 155 907 681 www.smsfadvisersnetwork.com.au
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