In the last 20 years, superannuation has become an important part of the wealth creation and retirement planning objectives for all Australians.
Self-managed super funds (SMSFs) are a way of saving for your retirement.
The difference between an SMSF and other types of funds is that the members of an SMSF are usually also the trustees. This means the members of the SMSF run it for their benefit and are responsible for complying with the super and tax laws.
There are several reasons why you would consider using an SMSF, the most common reasons being:
- Investment choice, flexibility, and control
- Tax efficiency
- Potential cost advantages
- Tax effective retirement income
- Estate planning opportunities
- Asset protection
When it comes to SMSFs, the complex regulatory environment and constantly changing legislations mean you need to get the right advice. Our team at STS Accounting consists of specialist SMSF advisers that adopt a personalised approach to gain the best outcome for our clients.
If you’re thinking of managing your own Super, contact our STS team today to discuss how an SMSF could benefit you.