1300 784 667 (1300 QUINNS) info@quinns.com.au
  • About Us
    • Our History
    • Our Mission
    • Our Team
    • Opportunities
    • Testimonials
    • Michael Quinn
    • Peter Quinn
  • Contact Us
    • Sydney CBD
    • Sutherland
    • Penshurst
    • Neutral Bay
    • Virtual Meetings
The Quinn Group
  • Accounting
    • Our Accounting Services
    • Business Accounting
    • Business Tax
    • Bookkeeping
    • Personal Accounting
    • Virtual CFO Services
    • Accounting Links
  • Business Advisory
    • Company Formation
  • Legal
    • Our Legal Services
    • Business Legal
    • Personal Legal
    • Virtual Chief Legal Officer (CLO) Services
    • Legal Links
  • Mergers & Acquisitions
  • Financial Planning
Select Page

Have you considered managing your own superannuation?

by Quinns_News | Aug 24, 2011 | Accounting News

Since the Global Financial crisis, many people are becoming more and more concerned with the performance of their superannuation fund. As a direct result of this concern many people are considering taking more control over the trusteeship and the management of their superannuation and establishing a Self Managed Superannuation Fund (SMSF.)

Whilst maintaining a SMSF is not for everyone there is no doubt that it can provide many benefits, especially for people aged over 45, or for those who have children.

The main benefits of a SMSF are:

Control

The key benefit of the SMSF is control. You are the one to sign off on the investment choice and the investment strategy. You can change the asset allocation of the fund at any time – this is considered to be a major benefit particularly in volatile times.

Estate planning

A SMSF enables the passing of wealth between generations in a more tax efficient manner than other super funds.

Investment choice

The investment choice is broader if you manage a SMSF, for example, the SMSF could purchase a home unit, house or commercial factory in the name of the superannuation fund; as opposed to having a small interest in a very large property trust.

Minimising tax

Where the member is retired and the SMSF is in pension stage no tax is paid by the fund. While the fund is in accumulation stage (i.e. the member is contributing to super and is not yet retired) the fund is required to pay tax at 15% on the income of the fund and 10% on the capital gains of the fund.

Fees

The members do not get charged entry fees when they contribute to the fund, nor exit fees when they withdraw or transfer from the fund.

Self employed

People running a business can use the funds in their SMSF to purchase their business premises – the business can then rent those premises from the SMSF.

Flexibility

Rather than only contributing cash to your super fund you can transfer listed securities, business property, and or managed funds into your SMSF in order to reduce your overall tax liability.

Just because it is a Self Managed Superannuation Fund does not mean that you have to do everything by yourself. Many SMSF members regularly seek the advice of professionals. Here at The Quinn Group our experienced team of Financial Planners, Accountants and Lawyers can provide you with the total solution and assist you with all your SMSF needs. For advice about whether an SMSF is right for you contact the Financial Planners here at Quinns by submitting an online enquiry or calling us on 1300 QUINNS (784 667) or on +61 2 9223 9166 to book an appointment.

 Search

 Latest Post

 Categories

Categories

  • Accounting News
  • Blog
  • Consumer News
  • Employment and Human Resources News
  • Financial Planning News
  • Legal News
  • Mergers & Acquisitions News
  • Newsletter Features
  • Small Business News
  • Tax Advice and Updates
  • Uncategorized

 Services

Services

  • Accounting Services
  • Business Lawyers
  • Corporate Lawyers
  • Family Lawyers
  • Tax Accountants
  • Tax Lawyers

 Archives

Archives

 Free Resources

 Latest News

 Quinntessential TV

 Our Clients

We value feedback. Here is what our clients say…

Glenn Burns
Overseas Legal & Accounting Client

as a time-poor business owner operating a subsidiary in Australia, it was necessary for me to find an

Quick Links

  • Blog
  • Free Resources
  • Newsletter Catalogue
  • Lawyers
  • Accountants
  • Tax Lawyers
  • Accounting Services
  • Tax Accountants
  • Business Lawyers

Our Services

  • Accounting Services
  • Legal Services
  • Financial Planning

Stay In Touch

Newsletter

The Quinn Group provides regular updates on important legal, accounting and taxation topics to keep busy professionals informed.

Subscribe Now

© The Quinn Group Australia Pty Ltd ABN 86 078 526 860. | Terms of Use | Liability limited by a scheme approved under Professional Standards Legislation.