Having a Self-Managed Super Fund (SMSF) does not mean all is smooth and easy. Before you set one up, consider there are Cons of SMSF:
- Responsibility is on you as trustee – Penalties can be up to: 46.5% tax, and other fines;
- Administration involved is quite substantial;
- Your suitability to manage investments needs to be considered;
- Complaints – there is no access to Super Complaints Tribunal;
- Commitment and work involved is more than it appears;
- Hard if you do not seek assistance with investment knowledge and compliance responsibilities.
Consider having the set-up, administration and compliance handled for you, so you can focus some time learning to invest the money and become an astute and competent investor. Wouldn’t it be great if a team came together and handled these areas of expertise, with FREE set-up, as well as all administration, and then you could assess independent professionals at any time and go to investment strategy and education workshops at an all-inclusive, competitive fee (100% tax deductible)? Well you can, attend one of our SMSF Roadmap introductory seminars in Melbourne CBD or suburbs (see Seminars), email us email@example.com, or call Paul directly Aust 0407 361 596.