Over 900,000 Australians run their own Self Managed Super Fund (SMSF).

We understand that SMSF’s don’t suit everyone, so it’s important you get the right information to decide if this is the best choice for your retirement goals. Here are some facts to assist you:

Why do people set up their own SMSF?

To be able to make their own decisions about where their super is invested.
To invest in your own chosen property (business premises or residential).

Is it expensive to set up a SMSF?

No, it isn’t. You need a SMSF Trust Deed (the document that contains all of the rules for running your super fund) and we recommend you incorporate a Company to be the Trustee (the decision maker) for the SMSF. Our price for this is $2,200 plus GST, which includes preparation of all required documents.

You’ll also need to consult with a financial planner for them to prepare a Statement of Advice to make sure that you have all the information to make an informed decision on your superannuation. Their fee is normally from $2,500 plus GST.

What are the ongoing running costs of a SMSF?

The ongoing costs normally start from $2,000 plus GST per year for the administration of your SMSF (includes tax returns, annual financial statements, minutes of Trustee’s meetings) plus $500 plus GST for the annual audit of your SMSF.

How much super do I need to set up a SMSF?

Normally at least $200,000 to make it cost effective to have a SMSF.

What investments can I make in a SMSF?

Typical investments include shares, cash, term deposits, and property. There are specific rules about what you can invest in, so it’s important you seek our advice before you make any decisions.

Further help:

To assist you to make an informed decision, contact our expert SMSF team on (07) 3023 4800 or at mail@marshpartners.com.au to organise a consultation to see if a SMSF may be an option for you.

You can find out more about working with Marsh & Partners here. As your Absolute.Account.Ability partner we’re on a mission to make your business life better. We’ll help you set goals for your business, devise an Action Plan to make them happen and meet with you regularly to ensure you stay on track.

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