GLR Accountants - a friendly team of professionals specialising in taxation and business services. Our commitment to excellence is evident in the exceptional service we provide to all our clients.

  • GLR Accountants
  • GLR Accountants
  • GLR Accountants

Self Managed Super Funds

Benefits     

  • 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.
 
Disadvantages

 

  • 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 

 Back to Self Managed Super Funds