Many Australians are hearing about the success of others who started their own SMSFs (self-managed superannuation funds) some time ago and are thinking about doing the same. They dwell on the benefits of taking control of their own retirement nest egg, but some of them gloss over the challenges involved, not only in getting the […]
Unless you are buying an existing business, chances are you are one of the many Australians who, every year, decide to start up a new business from scratch. Often in these situations, the dream has been bubbling along in someone’s mind while they are engaged in paid work for someone else. They may have seen […]
If you are the trustee of a self-managed superannuation fund (SMSF), especially a newly established one, you may be approaching the new tax year with some trepidation. It starts, of course, on 1 July and it means that you should be preparing to lodge your annual return for the previous tax year. Since one of […]
One of the main reasons for the popularity of SMSFs (self-managed superannuation funds) is that the fund members can make their own investment decisions as opposed to putting their money into retail funds and having no such control. Of course, this requires the trustees, who are also the members, to have a reasonable understanding of […]
Since the first self managed superannuation funds (SMSFs) were established, this sector of the financial services industry has seen steady growth year after year. The latest Australian Taxation Office (ATO) figures show that there are now over 600,000 SMSFs managing the retirement savings of more than 1.1 million Australians. There are several benefits to establishing […]