Major Benefits of a Self-Managed Superannuation Fund (SMSF)

SMSF is a powerful retirement planning tool that gives you greater flexibility and better control over savings and investments.

There are a number of advantages to having an SMSF. When you take control of your superannuation through a self-managed Superannuation Fund.

If you want to know more iCare Super can assist you with cost-free discussion. iCare Super offers a comprehensive SMSF compliance service including SMSF setup, accounting, audit and daily administration.

You can expect the following benefits:

  1. Best Investment Options

Most superannuation funds will allow you to have better control over your assets and investment decisions. The members are given more investment options than any other kind of super fund. They can invest in high-return cash accounts, term deposits, Australian and international shares, residential or commercial property, physical commodities and much more.

  1. Lower fees compared to industry and commercial funds

The cost may be lower than that of an alternative public super fund, especially where the fund balance is high.

  1. Tax benefits

At fifteen per cent, SMSFs have one of the lowest tax rates of any Australian entity. In addition to this super funds, most other pension funds will offer the option of receiving a tax-free pension as a source of income when they retire. SMSFs benefit from concessional tax rates same as other super funds.

  1. Greater Flexibility

Another benefit is that it gives you more flexibility in making timely investment decisions also to manage a mixture of accumulation and pension accounts where market conditions change. for example, as market conditions change member can quickly respond by adjusting your investment portfolio.

  1. Pay for your Life Insurance

You can pay for your personal insurance like life insurance, income protection insurance etc coverage through your SMSF.

  1. Transparency

The SMSFs provide important transparency to its members that enable trustees to coordinate their personal financial goal with their investment decisions.

  1. Your money for your family

The SMSF superannuation structure gives you more advantages than any other superannuation fund available in Australia. As one can get more control and flexibility. So that the member’s fund goes to his family or next generation, in a very tax-effective method, also at the right time when required.

  1. Securing your asset

Asset or property may be an essential factor for lots of people and the structure of Superannuation may escape its members from unwanted events like bankruptcy and litigation. In any such scenario, your superannuation benefits will be secured against creditors.

  1. Family Members’ Superannuation

SMSF is designed for a trust of four or fewer members in which you can include your family members, this increases savings for investment and reduces costs for all. That’s why it is the best option for a family of a husband his wife and two adult children who also want to pool their super together and purchase an investment property.

If you need advice from a dedicated SMSF advisor in Melbourne, iCare Super can provide you the support you need.

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