Generally, a superannuation fund is a self managed super fund if (with a few exceptions):

• It has a trust deed that meets the requirements of the Superannuation Industry (supervision) Act 1993 (SIS Act).
  
  
• It has four or less members.
  
  
• Each member of the fund is a trustee
  
  
• No member of the fund is an employee of another member of the fund, unless they are related , and
  
  
• No trustee of the fund receives any remuneration for their services as trustee.

Advantages of Self-Managed Superannuation Funds (SMSF)

• SMSF gives members unique control of their Investments within the legal framework with flexibility to change the Fund's Investment Mix.
  
  
• Maximum tax payable on a complying super fund earnings is 15%. This tax can be offset by the receipt of imputation credits.
  
  
• The Tax is payable with the lodgement of the Superannuation Fund Tax Return following the end of each financial year.
  
  
• SMSF are generally very cost effective.
  
  
• SMSF is often a prerequisite for an allocated pension or a complying pension.
  
  
• SMSF's assets are in most cases protected from bankruptcy.
  
  
• SMSF allows for tax deductible insurance premiums
  
  
• SMSF can invest up to 100% of the funds total assets in Business Real Property.
  
  
• Substantial savings in Commissions & Management Fees paid to Fund Managers and Financial Advisers.

Disadvantages of self managed super fund

As such there is no disadvantages of operating a self managed superannuation fund, if you have the ability to understand superannuation rules & regulations and the financial acumen to invest wisely and maintain adequate records.

Since 1982 we have provided reliable and dedicated professional assistance to all our clients seeking to establish and run their own Self Managed Superannuation Funds.

We are proud of the excellent value provided, our independence and the personal attention provided to every client.

We will spend time to understand your needs and expectations and to assist in the further development of your fund.

We think you will find our services excellent value for money and invite your enquiry on (02) 9580 5788.