2. Save fees on managing your Super
An SMSF can also be the most cost effective type of Superannuation Fund, particularly considering ESUPERFUND's low annual
fixed irrespective of your Super balance. This is unique in comparison to other Superannuation Funds whose
fees increase as your Super balance grows. Read "
The % Rort" for more information.
3. Manage up to 4 members' Super in one SMSF
You can set up an SMSF for yourself and add up to three other people and consolidate the super balance from each member into
one SMSF. This enables you to reduce the average fee per member to run an SMSF given our annual fee is the same for
1, 2, 3, or 4 members.
4. Accumulation and Pension Funds in one
With Retail and Industry Funds your benefit is typically invested separately in a Pension or an Accumulation Account. This
means that when you wish to drawdown your Super Benefit as a Pension your Super Benefit will need to be transferred
to a separate Pension Account and any additional contributions you make will be added to a completely separate Accumulation
Account. An SMSF is a Pension and Accumulation Funds in one. You can commence a Pension and continue contributing
to the same SMSF. There is no need to split your Super Benefit into multiple Funds.
5. Transfer assets from your personal name to an SMSF
It is possible for Members to make contributions of assets instead of cash such as Shares, Managed Funds, and Commercial
Property from the Members' personal names into an SMSF (called in specie contributions). In specie transfers allow
you to consolidate your Family Assets under the one SMSF tax advantaged umbrella. We note that taxation and capital
gains tax issues should be considered and these are considered
Before you start
An SMSF can be a great vehicle to take back control of your Super but an SMSF may not be right for everyone. We have conveniently
summarised other factors to consider when contemplating setting up an SMSF
here. We also assist you in understanding what is involved in the ongoing management of your SMSF via our Free
SMSF Learning Centre
If you want to learn more about SMSFs, download an
Follow our Facebook Page to stay tuned with the latest tips and tricks related to Self-Managed Super Funds.