Years back, people usually used to invest their Superannuation in Retail or Industry Super Funds in which their bosses contributed a fraction of their salary.
Over the years, changes came; accounts, fund managers and in certain cases registered company auditor started to take initiatives and made investment decisions on behalf of the members of those Funds.
In the past 10 years, This SMSF or self-managed super fund landscape has dramatically changed.
End number of people from all over the globe has actually switched from Retail or Industry Funds to SMSFs.
The major reason for this switch is to get the additional control over their Super and potentially lower fees, as explained by self-managed super fund accountants.
Help yourself and take a closer look at the advantages that SMSF can offer:
• TOTAL CONTROL: A SMSF offers full control of your Super funds by letting you select where you can invest your Super Benefit. For example, you can invest in Shares, Property, Term Deposits, Cash, CFDs and more.
• Lower Fees: SMSFs is the most cost effective type of Superannuation Fund.
• Add Thousands To Your Final Super Payout: Deliberate that a regular retail Superfund can charge up to 2% p.a. in fees and that you might have to pay around $500,000 in fees over your working life.
• TAXATION BENEFITS: When you begin with a Simple Account Based Pension or Change to Retirement Pension, the SMSF tax rate falls to NIL on pays and capital gains.
1. Well, that means that you can produce unrestricted revenue and wealth gains and you won’t have to pay any taxes on them after you commence your pension.
2. Is not all, there is lot more allied to SMSF; you can visit this link to find everything about it.
Here are few more benefits that you get if you opt for SMSF option:
• Consolidate Multiple Member Accounts
• Accumulation And Pension Fund In One
• Consolidate Investments:
• Succession Planning