CALL US: (07) 3367 0999 | EMAIL US:

Useful links

Australian Taxation Office
Comprehensive information on tax, compliance and useful interactive tools for businesses and individuals.

Australian Competition and Consumer Commission
Small business support, franchising, mergers, authorisations, your obligations, professions and industry codes of conduct.

Australian Securities and Investments Commission
Financial advice and business compliance information, interactive tools and calculators for individuals and businesses for protecting and growing their wealth.

Australian Bureau of Statistics
Statistical data on a wide range of economic, social, governmental and business matters to make informed business decisions.

Centrelink
Government financial assistance for individuals and businesses.

Business Gateway
Access to government information, transactions and services for all stages of business.

Business
advice

taxation
planning

compliance
services

News

Secrets to a savvy SMSF

January 17, 2018

Opting for a self-managed super fund (SMSF) can be a clever financial decision, but it’s not for everyone.

If you aren’t prepared to adhere to the following tips, your SMSF will most likely fail to perform as well as you would of hoped it to.

Stay informed
You can’t expect your SMSF balance to be the most profitable for you in your retirement phase if you don’t remain educated on the vastly changing compliance laws. Remaining up-to-date with these changes, and how they impact upon your nest egg is an essential aspect of making your SMSF work for you, your spouse and your children.

Strategy
The ultimate long-term goal of your SMSF is to allow you to retire comfortably, maintaining the life you have become accustomed to throughout your working years. To do this, you need to have a strategy; the decisions you make regarding your SMSF should be part of this strategy, not just transfers here and there because your financial advisor told you to. Your strategy should be reviewed at least annually. You need to be aware of how each decision will impact upon and ultimately lead you towards the financial security you work so hard to achieve for your later years.

Seek advice
Running a self-managed super fund doesn’t involve having all the answers, but it does require understanding when it’s time to talk to a professional to get the best advice on your SMSF. You can never ask too many questions when it comes to your future financial security.