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Millions of Australians holding superannuation in industry and public funds watched in dismay as their investment income plummeted in the wake of the GFC. While there has been some recovery in the years since then, the whole global scenario was a reminder to all that nothing is ever certain, and our financial systems are now so inter-twined with overseas happenings that an event like this over which we had no control can wipe millions off retirement savings. This lack of control is a major issue for many people, and one of the motives behind renewed interest in self managed superannuation funds or SMSF. An SMSF is just like any other superannuation fund. It is governed by a trust deed which outlines the investment strategies, and it must comply with ATO regulations. The difference is that the trustee, rather than being an industry or corporate identity, can be you. This provides a number of benefits, not the least of which is that you have control over how your superannuation funds are invested. Charter Partners is a firm of Accountants Sunshine Coast that are leading specialists in self managed superannuation funds. They provide an excellent service to their clients who want the control over their investments, but not the complex and onerous administration and compliance tasks that can be involved in running an SMSF. Charter Partners have fully trained SMSF staff on board who are constantly being updated with new information as the regulations around SMSFs change. Control over your investments is not the only benefit of a SMSF. Flexibility in other areas is an additional attraction. For example, members are able to pool assets to enable increased diversity in investment options, they can nominate a beneficiary or instead, let the trustee administer the benefits to reduce taxation, they may if the trust deed allows, have insurance policies for Income Protection, Total and Permanent Disability and Life cover and they can choose the type of contributions they make to the fund. These can be employer contributions, co-contributions, salary sacrifice or eligible spouse contributions. These are not the only benefits, so it is important to have the fund managed by experts like Charter Partners who can provide advice to ensure the fund members get the full benefits legally available. So confident is Charter Partners of their ability to add value to your retirement planning that they are offering, for a short time only, to set up your SMSF for just $599. This is a limited offer as they only have a certain number of set-up packages available, and conditions do apply, but for the price of a phone call, you will get all the information you need to make an informed decision about the future of your SMSF. This decision could mean the difference between a fulfilling retirement lifestyle and one where you are restricted by a reduced income from doing the things you had planned. Getting the structure of your SMSF right at the start is absolutely essential to achieving the goals you have in mind by taking this step. As a member of the Self-Managed Super Fund Professionals’ Association of Australia (SPAA), Charter Partner’ principal, Anthony McPhee, is an SPAA Accredited Specialist and as such, has undertaken a program of training and accreditation specific to SMSFs and is qualified to provide independent specialist advice to fund clients. His team of qualified accountants and support staff can simplify the day-to-day management of your fund and ensure you are meeting all your compliance obligations. As a vehicle for sound retirement planning that puts the control over investment decisions back in your hands, SMSFs are an excellent way to build wealth and maximise tax benefits. The management of your SMSF should not fill you with anxiety and with Charter Partners assisting you every step of the way, you will have the control without the stress. http://www.charterpartners.com.au/
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