Self Managed Superannuation Funds (or SMSFs) are the fastest growing sector within the Australian superannuation industry.
Take Control of your Future
SMSFs are becoming a popular choice, as more and more people want more control over their retirement nest-egg and an SMSF can help provide the members and trustees with the flexibility and control in the choice of investments for their retirement savings.
Property Investments and Strategies
In 2007, the superannuation laws were changed to allow borrowing to invest in assets like commercial property, residential property and shares etc. The borrowing arrangement is referred to as a 'limited recourse borrowing arrangement' (LRBA). More and more business owners are looking at the potential of purchasing a commercial premises, through their SMSF, for the purpose of operating their business from it. This is only one of the many strategies available for people to have control over their superannuation accounts by using an SMSF to control where their funds are invested.
Administration and Compliance Management
Greater control over your investment means that you will be able to make decisions about your investments. However, it also means the trustee will have the responsibility to ensure that the SMSF is compliant with tax and super laws. Here, at Choice Accounting, we can help you manage the administration and compliance of your SMSF, as well as organising the fund to be independently audited, as required by the ATO. As everybody’s circumstances and objectives are different, before deciding whether or not an SMSF is right for you, it is important to seek professional advice.
On the money for your business
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