What’s The Fuss About SMSFs?
A Self-Managed Super Fund (SMSF) is a unique and increasingly popular retirement savings vehicle in Australia.
Category: SMSF
What Do You Need To Know To Get Out Of An SMSF?
If you’re a trustee of a self-managed super fund, some reasons or circumstances could have emerged that may result in you wanting to get out of that fund.
Binding Death Nominations Are An Important Part Of Your Estate Planning
You must make a binding death benefit nomination to maintain control and certainty over who will inherit your superannuation assets after you pass away.
Contrary to what you may think, your will does not automatically control the payment of your death benefits. If you do not make a binding death benefit nomination, your super trustee will decide who your super passes onto.
The Benefits & The Downsides Of SMSF Set Up
One of the benefits of establishing or opting for an SMSF is the control they are given over where the money is invested. While this sounds enticing, the downside is that they involve a lot more time and effort as all investment is managed by the members/trustees. They are also often the targets of fraud and scams.
Common Mistakes Often Made By SMSF Trustees That You Can Avoid
Involvement in an SMSF can put certain responsibilities in their trustees hands, and those who overlook important details or find themselves reported to the ATO for failing to fulfil those responsibilities may risk incurring financial, civil or criminal penalties.
Breaching The Complex Laws That Surround SMSFs Could Land You In Hot Water
There is a proverb that says that it is better to ask for forgiveness than to ask permission.
- 1
- 2