Self-Managed Superannuation Funds (SMSF) are utilised by many Australians to provide for their retirement. The main difference between a Self-Managed Superannuation Fund and Institutional Superannuation Funds is that members of a Self-Managed Superannuation Fund are the trustees and can operate the SMSF for their own benefit.
It is very important that anyone who is thinking of or is setting up a Self-Managed Superannuation Fund be fully aware of the responsibilities and obligations as trustees of a SMSF. The Australian Taxation Office (ATO) regulates SMSFs and maintains a strong focus to ensure compliance with the appropriate legislation and regulations.
Setting up a Self-Managed Superannuation Fund is a major financial decision and you need to have the time and skills to ensure that you comply with your obligations. Experienced financial advisors and accountants should be consulted to help you understand what is involved.
Our team understand that setting up a Self-Managed Superannuation Fund can cause confusing with compliance issues and obligations. The SMSF team at FC Lawyers can help you set up the appropriate documentation and assist you in understanding your legal obligations, in what is a very complex and confusing area of law that can cause trouble in the future, if not setup correctly.
FC Lawyers SMSF team
Our dedicated Self-Managed Superannuation Fund team will assist with:
- Establishment of the SMSF
- Providing advice with any compliance issues
- Providing advice for the legality of investments
- Buying property through SMSF
- Borrowing through a SMSF to purchase property and investments
- Superannuation Guarantees
If you are thinking about setting up a Self-Managed Superannuation Fund, or have any questions regarding Self-Managed Superannuation Fund’s, please don’t hesitate to contact our team of legal professionals.