Self-Managed Super Funds(SMSF)

At Foundation Financial Advice we are agnostic towards whether SMSF, Industry Funds or Private Professionally Managed funds are utilised – Provided YOU are in the most appropriate type or types for your and your families specific needs and objectives.

The first step in Self Managed Superannuation (SMSF) Planning is to establish if an SMSF suitable for you? Do you want specific control, responsibilities or need access to otherwise excluded assets in your fund such as Commercial Property or Residential Property as part of your retirement strategy? Are you financially literate and aware of the responsibilities of being a Trustee? Do you want to invest in a family SMSF?

As an SMSF is a private superannuation fund that you manage yourself. The members are usually The Trustees of the fund and it is regulated by the Australian Taxation Office (ATO). At Foundation Financial Advice, we can answer the commonly asked questions asked regarding SMSF, establish suitability, help with your initial set up and ongoing management of your chosen fund.

A further starting point is the ATO (www.ato.gov.au) and ASIC’s Consumer website (www.moneysmart.gov.au) where within the SMSF sections there are Trustee learning modules, information regarding the available asset classes and a questionnaire to evaluate suitability.

How does it work?

An SMSF is a superannuation fund that you own and manage. It gives you complete control over how your retirement savings are invested, provides flexibility to take advantage of investment opportunities not available in other funds quickly and in a tax-effective manner (compared to outside of superannuation). This is combined with complete responsibility on the Trustees.

You can invest in traditional asset classes such as shares or property, as well as alternative investments such as direct property, business premises, unlisted shares or artwork. SMSFs may also provide tax advantages and offer lower fees than standard super funds particularly when valued in excess of $1million.

SMSFs are not for everyone. As an SMSF trustee, you are responsible for developing an investment strategy, responsible for investment decisions and complying with the often changing and complex superannuation laws and tax rules. Being a trustee can be complex and time-consuming.

Where Foundation Financial Advice will assist you?

Foundation Financial Advice believe SMSFs are best suited to those with strong financial knowledge and a significant amount of superannuation to invest, small business owners, families with intergenerational assets in their retirement planning, investors seeking exposure to Business Real Property or Residential Property as a part or component of their diversified retirement strategy.

IF THIS IS YOU, COMPLETE THE ONLINE BOOKING OR CONTACT US SECTIONS TO BEGIN YOUR FIRST STEP TO RECEIVING THE RIGHT ADVICE

Our Director and Principal Financial Adviser at Foundation Financial Advice is an accredited SMSF Specialist Advisor by the SMSF Professionals’ Association of Australia and works closely with clients to provide sound financial advice, investment strategies, strategic advice and can offer referred administrative support for your SMSF too. From Trust Deed to Limited Recourse Borrowing all the way through to Winding up – Foundation Financial Advice can help with all aspects of the Advice you deserve in your SMSF planning.

Importantly, we consider your SMSF as one part or an instrument of your overall financial strategy and incorporate it into your holistic position including you Estate Plan.

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