SMSFs offer business owners (and individuals) more control and choice for managing retirement savings including the opportunity to select, buy or sell investments (including property) to suit specific wealth accumulation strategies. SMSF is also considered a tax effective vehicle for managing wealth that provides a legacy for future generations.
However, trustees of self-managed superannuation funds must meet considerable responsibilities. While strict compliance is required in terms of fund administration, with the sole purpose of the fund to provide retirement benefits to members, trustees must also be adept in investment strategy to grow the fund balance.
How we help
We consider SMSF in terms of our Complete Advice Framework and as part of an overall prosperity plan. We help business owners (and individuals) to determine whether SMSF is the appropriate superannuation vehicle for their needs and provide guidance and advice that may include investment strategy, purchasing assets, advice about insurances through super, trustee education and support which may include coordinating with your accountant.
Property is a common wealth generating investment and it may be purchased through a SMSF. Properties such as commercial properties including business premises and residential rental properties that generate income or appreciate in value that may be realised when sold, can add to the overall wealth of the SMSF.
How we help
There are specific rules and complexity associated with purchasing property through SMSF. We provide advice and guidance for using SMSF facilities including Limited Recourse Borrowing Arrangements (LRBA).