SMSF’S are there to fund your retirement and ensure you have greater control of your assets. They can have up to four members, two of whom are trustees.
Setting up a SMSF is easy and inexpensive however it’s important you get the structure right according to your circumstances. Part of the requirements of setting up the fund is that you’re required to provide details of the trustees, verify minutes of meetings, obtain a tax file number and an Australian Business Number (ABN).
The trustees of your SMSF are legally responsible for the fund’s investment strategy, setting out the kinds of investments that your fund will be undertaking and the purpose for which they are made.
SMSF’s can be risky if you haven’t done your research. That’s why our Financial Advisers can help you manage your SMSF, ensure you make the right type of investments and don’t hold too many investments in the one type of asset class.