Thinking of starting a self-managed super fund?

SMSFs offer great flexibility in using your funds for chosen investment purposes. However, it does come with requirements you should consider before making a move.

Its important to consider some of your responsibilities as an SMSF trustee. You are required to operate your fund within the law, which if you don’t do may come with penalties. You will also need to make an investment strategy plan, and make investments that are in interest of all the fund members. These can take time to understand, as well as regularly practice, so it’s important to consider whether you can put in the time and effort for your SMSF.

There are additional fees and costs associated with running an SMSF that you should take into account. To learn more, check out ato.gov.au

Reminder: Make sure to be aware of SMSF scams out there, that often offer unrealistic deals, or ways of accessing your super early.

All information sourced from ato.gov.au