A self-managed super fund (SMSF) is becoming an increasingly popular choice for many Australians looking to have a greater degree of involvement in the management and administration of their superannuation fund than that offered by traditional retail or industry superannuation funds.
While SMSFs generally offer greater flexibility and control over your superannuation investments, they also carry significant administration and reporting obligations which many people often underestimate. Ensuring that an SMSF is compliant with all government regulations and requirements can be onerous and time-consuming, and a fund that isn’t compliant could attract significant penalties and have serious consequences.
For this reason it’s important to understand the complexities associated with SMSFs before you make a decision to proceed.
At BMB Private Wealth, we can help you to decide whether an SMSF is right for you. Should you wish to go ahead, we can help you with the initial establishment of the fund, and provide you with ongoing SMSF support and administration services.
To find out more about or SMSF compliance and administration services please feel welcome to contact us.