SMSF in Middle park

SMSF Expert in Middle Park

At IMAAA, we can provide you with professional advice in relation to your self managed superannuation fund (SMSF).

• Assistance with fund establishment, running or closing a fund- Annual compliance and administration- Advice and assistance with reporting requirements and legislation

Managing a SMSF

There are serious obligations around running your own super fund.  It is generally governed by the trust deed, which is a legal document setting out the rules, rights and obligations.  The main rule that a SMSF is driven by is the ‘sole purpose test’,  which essentially means that a super fund needs to provide retirement benefits to its members i.e. The funds cannot be used in a person capacity, the funds can only be used by the super fund for the benefit of its members (in retirement).

What can a super fund invest in ?

This advise is general in nature.  However, with a set of rules imposed, it can invest in a business, collectables, shares, managed funds, residential and commercial property (all being arm’s length transactions) etc.  Once again the trustee/s or a financial planner can advise you on what the investment strategy is likely to be for the super fund, with insurance being an important aspect to consider.  The investment strategy can and should change from year to year depending on age, anticipated needs of dependants, liquidity, asset spread etc.