Superannuation is an excellent, tax-effective way to save for your retirement. Plus, with the Australian government’s plan to increase the superannuation guarantee, your nest egg will grow even faster. Superannuation also enjoys special tax rules giving you the ability to reduce your tax through deductible contributions, so making informed choices will also help increase your nest egg.
Many clients ask us: what is the difference between managed superannuation funds and SMSF (Self-managed superannuation funds)?
The difference between a SMSF and other types of superannuation funds is that the members of a SMSF are usually the trustees. This means that the members of the SMSF run it for their own benefit and are responsible for complying with Australian superannuation and taxation laws.
Below is a summary, but make sure you make an appointment to discuss your situation.