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Simon Fan CPA
Suite 124/40 Burgundy St
Heidelberg, 3084

Phone
(03) 9457 3338

Mobile
0409 995 521

About Self Managed Superannuation Funds

 
nullThe number of self managed super funds also known as DIY super or self funded super has now reached over 400,000. Data compiled by the Australian Prudential Regulatory Authority (aka APRA) shows that this sector of the market is growing with assets of approximately $450 billion and constitutes 32% of all superannuation in Australia. This type of tax entity offers significant tax concessions, for example, members' balances in accumulation mode is taxed at the maximum rate of 15%, and for those in pension mode, a tax rate of 0%. This is applicable to all income and capital gains from assets which are used to generate pension payments.

Think ahead and recap the benefits Advantages of a self managed super fund:

  • Regain control of investment in asset classes which the trustees are comfortable with
  • Increased flexibility, funds can be either in an accumulation phase, pension phase or a mixture of both. That is it can be tailored to suit the requirements of the members.
  • Flexibility over the type of assets that the trustees can invest in, for example; listed and unlisted shares, managed funds, trust units, artwork, business real property etc.
  • Listed shares and business real property may be transferred via an in-specie contribution or purchased by the fund.
  • As the trustees assume the management of the fund, management fees/commissions are significantly reduced.
 
Disadvantages of a self managed super fund:
  • Trustees are responsible for the fund's administrative and compliance tasks.
  • Trustees must keep up to date with the increasingly complex changes and requirements.
Annual regulatory report and return are required   Self Funded Super will provide ongoing support and advice to ease the burden of administration and compliance. We do this by providing a 'one stop shop', from the establishment of the fund to the lodgement and audit of the regulatory return. We will provide ongoing support, advice, and strategic analysis as part of the package. We will set ourselves up as the mailing address for all paperwork relating to the fund and forward only those documents which require the personal attention of the trustees.
If you would like to take up the special offer for November/December, please complete the 'Request to Establish a Superannuation Fund' form and return it to us at your earliest convenience. Please feel free to contact me, should you have any further questions. Remember we are open till 7.00pm week nights.
 
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