Self Managed Super Fund (SMSF):
A Self Managed Super Fund works like any other Super fund, however, 1-4 of the members have the responsibility of managing it themselves as well as being the trustee. The concept works as you are managing the super fund, you are responsible for the fund’s investment decisions and legal responsibilities, making it a a major financial decision for the taxpayer.
The main reason why SMSF have recently become so popular is due to the members having more control and flexibility over their investments, lower fees than industry and retail funds, and better performance than industry and retail funds. If you are interested in buying a rental property – we suggest that you attend one of our seminars to find out more information on how you can do so with a SMSF.
Here at S.M. Wilson & Associates, we run monthly seminars providing our clients with the best SMSF advice and information. We then give you the option to set up a SMSF with our alliance with a leading group of mortgage brokers provides our clients with access to competitive loan products.
To set up a SMSF or register your interest contact our office today.
The ATO keeps a register of members who has been reported as lost by their super funds. The register includes details of lost members for accounts held by super funds, approved deposit funds and retirement savings accounts (RSA).
You may be reported lost by a super fund or other accounts because you have changed jobs, changed your name or address, your super fund cannot contact you and they have not received contributions from you for the last five years.
To find your lost super, click on the link below and follow the directions:
Business Super Obligations:
Running a business and employing workers is likely to involve superannuation obligations. As an employer you need to pay at least a minimum of 9.25% contribution of the employees normal time earnings, which is inclusive of; wages, overtime and parental leave.