Self Managed Super Funds (SMSF): Your Complete Guide
A Self Managed Superannuation Fund (SMSF) is a superannuation fund with 4 members or less, where each member of the SMSF is also a trustee of the SMSF. In most cases, a SMSF will consist of family members only; and usually only two members of a couple.
An SMSF provides greater investment, taxation and estate planning flexibilities compared to standard retail or industry superannuation funds. However, the costs of establishing and running a SMSF are generally higher. The administrative responsibilities and duties associated with an SMSF are also greater.
While an SMSF can provide you with a higher level of control over your retirement savings, the additional costs, risks and workload should be considered before setting one up.
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