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Most people think of superannuation as a tax-beneficial way to save for your retirement. Super is actually more than retirement planning, it’s a key part of most people’s financial plan as it touches every other aspect of financial planning. The way you manage your super impacts your insurances, other investments, tax planning, retirement planning, family and even how you repay your own mortgage. Choosing a self-managed superannuation fund (SMSF) can be confusing, but we can guide you through the process. The Envisoro team can assist with all parts of SMSF set up and administration.
A SMSF gives you more flexibility and increased control over your investments, since you manage it yourself. However, they are also complex, strictly regulated by government and different to standard third-party funds. SMSFs have a large range of investment options including shares, fixed interest, direct property, physical gold and other commodities, derivatives and even some collectables. An attractive advantage for SMSFs is effective tax management. Greater control and flexibility over your investment decisions affords you the ability to consider tax effects effectively. SMSF members also have greater flexibility on when they acquire and sell their investments and this hands-on approach can mean you can quickly respond to market conditions and adjust your portfolio. On top of this, SMSFs give you more options when it comes to estate planning, including how death benefits are to be paid.
Running your own SMSF can be time consuming, even if you appoint a SMSF administrator. All super members should have an understanding of their investment markets and have the skills to form and review their investment strategy. There are obligations and super rules which if you fail to comply with can bring a range of penalties from the ATO.
This information does not consider your personal circumstances and is general advice only. You should not act on any recommendation without considering your personal needs, circumstances and objectives. We recommend you obtain professional financial advice specific to your circumstances.
Our team can help you with all aspects of superannuation funds, so get in touch to see how we can help you manage your investments effectively.
Merit Wealth Pty Ltd, ABN and AFSL Number: Merit Wealth Pty Ltd, Australian Financial Services Licence 409361, ABN 89 125 557 002
Phone: 1300 785 611
Fax: 02 8916 4261
For more information on Merit Wealth go to: www.meritwealth.com.au
Our authorised representatives details
Charitha Wasala is Limited Authorised Representative of Merit Wealth Pty Ltd, ASIC number 001266708 ABN 96 168 721 091