Get ASX Price
LATEST FINANCIAL PLANNING NEWS
Hot Issues
Our Advent calendar for 2017
Where are we in the global investment cycle?
Australia's vital statistics
12 ways to enjoy summer without spending a fortune
One in three Aussies travel without protection
Digital payment options could see you spend more this Christmas
If you’ve always thought property prices only go up…
Will Australian house prices crash?
Where are we in the global investment cycle and what's the risk of a 1987 style crash?
Money steps for women
Resources on our site to help you, your family and your friends.
Australian Dietary Guidelines and healthy eating chart (PDF)
How to retire, your way
Prepare for retirement without missing out today
Be the boss of your cash
The Australian economy bounces back again
Should you lend money to family?
Money mistakes people make in their 50s and 60s
Australian Dietary Guidelines and healthy eating chart (PDF)
Eight steps to improved cashflow... and lifestyle
Powerful Budgeting, cash flow and Super Tools available on our site.
5 ways Australians will use their tax return this year
Australia's leading causes of death - ABS
The threat of war with North Korea
Six traits of Australians living the dream
The break higher in the Australian dollar is likely to be limited
Money can buy you happiness, you’re just spending it wrong
Key Economic Indicators, 2017 – updated
Helping your kids buy a home
From Goldilocks to taper tantrum 2.0
What’s your debt age?
Doing a budget is a good idea but ....
Planning is the key to making it financially
What to do when you come into money
Managing your money when you move in together
Reduce your bills with these household items
It pays to contribute to your partner's super
How to cope with losing independence
Transition to retirement income streams
The Australian economy hits another rough patch
Watch out for tax scams
The three core pillars of this year's budget
Federal Budget - 2017-18 - Overview
Federal Budget - 2017-18 - Budget documents
Make the most of the current super caps
Five, four, three… it’s not too late to get more in super
Super changes are coming
What’s your debt age?
Australian cash rate on hold
Super changes this financial year - Dr Shane Oliver - video
The door is closing on super’s current caps
Is Donald Trump's honeymoon with investors over?
Estate planning and why you need a super plan
What does a comfortable retirement look like?
Give your career a health check
Super changes from July 2017
Changes to the Age Pension assets test
Keep your money safe over the silly season
Looking ahead at 2017
Review of 2016, outlook for 2017 - looking better despite the political noise
Merry Christmas for 2016, a Happy New Year and a prosperous 2017.
54.2 million worries
Five tips for happy healthy ageing
Thinking about managing your own super?
Sending more to the tax office than you should?
Government pulls back on proposed changes to super
Market Update - What to consider when investing in a low return world
Stop!! Don't do a paper Budget, use our online budgeting tools instead.
Oliver's Insight - Megatrends
Value of Advice
A growing family doesn't have to blow the budget
Blinded by optimism
Thinking about managing your own super?
The investment outlook - it's not all that bad!
What’s your biggest obstacle to financial success?
Ageing Parents
Should you own the roof over your head?
Be a senior entrepreneur on your own terms!
Brexit and other key developments
Brexit wins
Commentary on major issues - AMP
Five money habits for a happy financial year
Are grandparents giving too much?
Remember to factor in parental subsidies at tax time
2016-17 Federal Budget - AMP
2016 Budget in detail
How (and why) to talk to your adult children about insurance
Procrastination: Just do it. Eventually.
Why Australian property won't collapse
The Lucky Country holding up pretty well
Have we reached the bottom?
The evolution of the Chinese consumer
Retirement rolls around faster than you think
Pressed for time?
Changes to the Age Pension assets test
Women are building financial intelligence
Heirlooms no more
Initial market falls precede stronger returns - Shane Oliver
What exactly is income protection insurance and do I need it?
A rough start to the year, which could have further to go
Aged Care - Changes to Assessment of Rental Income
A bump in the road, then a new start
New year, new start – are you ready for retirement?
Review of 2015, outlook for 2016 - Dr Shane Oliver
We wish you a Merry Christmas for 2015 and a Happy New Year
Go easy on the plastic over Christmas
Resolutions for a wealthy future
The Australian dollar doing what it normally does - overshoot. Dr Shane Oliver
How to manage volatility in a low return world
The Australian economy - more help will be needed. Dr Shane Oliver
Insurance through my super
Four tactics to build an investment portfolio
The demand for global infrastructure
Help achieve your investment goals with dynamic asset allocation
The Power of Budgeting
Jump retirement hurdles with a coach
Preparing for the time of your life
A Super Loan for all reasons
Making a smooth transition
Budget 2015 - some professional opinions
Australian Government - Budget 2015
Achieving a comfortable retirement
Is off-the-plan on the money?
Should I take my super as a lump sum or not?
Do you have a key person in your business?
Tips for success in a competitive job market
All you need to know about buying at auction
To sell or not to sell?
Saving in a material world
Thinking about managing your own super?

 

If you’re wondering what’s involved in self managed super and whether it’s a good option for you, here are some things to consider. 



       


 


There’s a lot to consider when it comes to managing a self managed super fund (SMSF). Setting up a compliant fund and managing your investments takes time and can give you the freedom to have more control over your future. 


Of course acting as a trustee of an SMSF comes with specific responsibilities. Your SMSF must remain compliant with the rules governing self managed super. There are administrative and reporting obligations, and stringent guidelines about what you can buy through your super fund, and how the assets can be used. 


The practicalities


Some of the practical details you need to take care of when setting up your SMSF include: 


  1. Registering your fund—every SMSF must be registered with the tax office. You can do it yourself or we can do it for you.
  2. Rolling over your super—we can help you set up a bank account for your SMSF so your accumulated super money can rollover.
  3. Administering and reporting—there are a range of administration, compliance and reporting obligations your fund is required to meet. We can run through these with you.
  4. Setting up a trust deed—every SMSF must have a trust deed which sets out rules for the way the fund must operate. 

Structuring an SMSF


There are two ways you can set-up the structure of your SMSF. You can choose an individual trustee or a corporate trustee structure. Deciding on the type of trustee structure for your fund is an important decision that will affect the way the fund is managed and its costs. 


Following the rules


There are several laws governing self-managed superannuation funds (SMSFs) in Australia—and strict penalties for trustees of funds in breach of them. We can help you understand the obligations your fund has and the responsibilities that would sit with you as a trustee. 


Investing your super


Your SMSF’s investment strategy must be documented and will determine how your fund invests its money. The investments of an SMSF generally include a mix of cash, term deposits, shares, managed funds and direct property. We can help you establish your fund’s investment strategy. 


There are stringent guidelines that determine how SMSF assets are used. From 1 July 2016, all assets considered as personal assets need to be compliant with new legislation. We can help you understand how assets like artwork, jewellery, wine and motor vehicles need to be managed. 


As part of your investment strategy, you’ll also need to consider the insurance needs of each member of your fund. We can help you consider life insurance, total and permanent disablement cover and income protection for each of your fund members. 


Find out more


An SMSF isn’t for everyone so come and chat with us and we will help you work out whether an SMSF is right for you


Hawthorn Financial Planning Pty Ltd ABN 47 011 910 918
Corporate Authorised Representative
Charter Financial Planning Limited ABN 35 002 976 294
Australian Financial Services Licensee Licence number 234665
Registered address Level 24, 33 Alfred Street Sydney NSW 2000
Legal Disclaimer | Privacy Policy



Hawthorn Financial Planning 67 King William Road UNLEY SA 5061 Ph: (08) 8339 7973

IMPORTANT INFORMATION | Site By PlannerWeb