Self Managed Superannuation Funds
Self managed superannuation funds (SMSF) are the largest sector of the Australian superannuation industry. With over $ 330 billion invested across 410,000 funds and comprising 31 % of all superannuation funds, the SMSF sector is experiencing rapid growth.1
SMSFs provide the opportunity for you to take a hands-on approach to your superannuation. SMSFs allow up to four members, with each member also a trustee of the fund.
People start their own SMSF for all sorts of reasons however commonly it is to have a greater degree of control of investments, enjoy the greater flexibility in investment options that SMSFs allow, to reduce costs and for better tax planning.
SMSFs can invest in mainstream investments including shares and managed funds. However they are the only superannuation vehicle that allows you to invest in directly held property, whether residential or commercial as well as specialist investments such as collectibles.
In common with all superannuation funds, SMSFs must comply with the superannuation legislation. They have a trust deed which sets out the governing rules for the fund. SMSFs are regulated by the Australian Taxation Office.
SMSFs have very specific rules regarding the conduct of the fund and in particular investment in some types of assets. Trustees of SMSFs whilst free to obtain professional advice (and the majority do so) remain responsible for the operation of their own fund.
If you would like more information on SMSFs, click on the orange capsules to the left of the page.
2009[i] A Statistical Summary of Self-managed Superannuation Funds. Australian Government.
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