Self Managed Super
The retirement landscape is ever changing. Take control of your future with a Self Managed Super Fund. SMSFs provide the best form of direct control over your retirement investments, with greater flexibility to take advantage of tax planning and retirement options. SMSFs also offer the ability to tailor your estate planning needs as well as providing asset protection.
Quill can help shape your tomorrow. We manage over 2,000 SMSFs where the members enjoy the ultimate flexibility for their tax planning and retirement.
SMSF
The purpose of a self managed superfund is to provide a means of saving for retirement. If you are a member of such a fund, possibly with up to three others, you will also be a trustee, responsible for the way it is run and that it complies with relevant laws.
One of the advantages of an SMSF is you can invest in various assets, such as shares, managed funds, property, term deposits and collectibles that include jewellery, art, fine wines and vintage cars. Since the SMSF is strictly to provide for retirement, you cannot take on present day benefits such as wearing the jewellery or displaying the art in your home.
Being able to invest widely does impose responsibilities in investing correctly and in the most effective way. You need to invest in assets that will provide the best rate of return while limiting the level of risk so that, if things turn bad, you don’t lose more than you can afford.
Thus, although you can invest in cryptocurrencies and they may generate spectacular profits, they are exceedingly volatile and can also cause tremendous losses.
Matching Risks, Returns and Compliance Responsibilities
Setting up and running a self managed super requires a considerable amount of time and skill. You need to:
- identify and select investments that will generate an adequate return to meet your retirement needs while being right for your tolerance of risk
- monitor the performance of those investments and change them if performance is not sufficient
- arrange insurance to cover you and other members against disability and loss of income
- prepare for changes that affect any SMSF members, such as death, mental impairment or a wish to withdraw
- keep records of anything that affects the fund
- arrange an annual audit by an approved auditor
- allow for expenses arising.
All this takes time and expertise that you may not have. Consequently, since you are responsible for the correct administration of the fund, you may need to seek professional help.
Getting the Best Help and Advice for your SMSF
Although the fund is supposedly ‘self managed’, you can appoint an advisor to help you run it. This can be anything from providing advice on the best investments to undertaking the complete running of the fund. None of this will release you from your responsibilities because, as a trustee, you’re still personally liable for every decision that’s made.
Depending on your level of skill and the time you have available, you can appoint an adviser with a set level of authority:
- view only, to see what is happening with the fund and assess its performance
- withdrawal, to undertake various transactions for the fund
- complete, to additionally make any changes to the fund.
Granting full access can leave you open to fraud and to transactions you may not like. You therefore need to be clear about the extent of the adviser’s authority, get copies of all correspondence, check all transactions and generally be aware of what is happening.
At Quill, we have Australian Financial Services licensing to advise on an SMSF. We have the knowledge and experience to provide full financial advice, make investments on your behalf and ensure your fund performs as well as it can within your risk profile.
We’re always completely transparent in everything we do so you can rest assured your retirement fund is in safe hands.
Whether it’s individual or commercial tax needs, financial advice or strategies to grow your business, the Quill Group has you covered!
Self Managed Superfund
The purpose of a self managed superfund is to provide a means of saving for retirement. If you are a member of such a fund, possibly with up to three others, you will also be a trustee, responsible for the way it is run and that it complies with relevant laws.
One of the advantages of an SMSF is you can invest in various assets, such as shares, managed funds, property, term deposits and collectibles that include jewellery, art, fine wines and vintage cars. Since the SMSF is strictly to provide for retirement, you cannot take on present day benefits such as wearing the jewellery or displaying the art in your home.
Being able to invest widely does impose responsibilities in investing correctly and in the most effective way. You need to invest in assets that will provide the best rate of return while limiting the level of risk so that, if things turn bad, you don’t lose more than you can afford.
hus, although you can invest in cryptocurrencies and they may generate spectacular profits, they are exceedingly volatile and can also cause tremendous losses.
Matching Risks, Returns and Compliance Responsibilities
Setting up and running a self managed super requires a considerable amount of time and skill. You need to:
- identify and select investments that will generate an adequate return to meet your retirement needs while being right for your tolerance of risk
- monitor the performance of those investments and change them if performance is not sufficient
- arrange insurance to cover you and other members against disability and loss of income
- prepare for changes that affect any SMSF members, such as death, mental impairment or a wish to withdraw
- keep records of anything that affects the fund
- arrange an annual audit by an approved auditor
- allow for expenses arising.
All this takes time and expertise that you may not have. Consequently, since you are responsible for the correct administration of the fund, you may need to seek professional help.
Getting the Best Help and Advice
Although the fund is supposedly ‘self managed’, you can appoint an advisor to help you run it. This can be anything from providing advice on the best investments to undertaking the complete running of the fund. None of this will release you from your responsibilities because, as a trustee, you’re still personally liable for every decision that’s made.
Depending on your level of skill and the time you have available, you can appoint an adviser with a set level of authority:
- view only, to see what is happening with the fund and assess its performance
- withdrawal, to undertake various transactions for the fund
- complete, to additionally make any changes to the fund.
Granting full access can leave you open to fraud and to transactions you may not like. You therefore need to be clear about the extent of the adviser’s authority, get copies of all correspondence, check all transactions and generally be aware of what is happening.
At Quill, we have Australian Financial Services licensing to advise on an SMSF. We have the knowledge and experience to provide full financial advice, make investments on your behalf and ensure your fund performs as well as it can within your risk profile.
We’re always completely transparent in everything we do so you can rest assured your retirement fund is in safe hands.
Whether it’s individual or commercial tax needs, financial advice or strategies to grow your business, the Quill Group has you covered!
A dedicated team
Quill is proud to be associated with Intello Private – a superannuation administration specialist. This dedicated team of superannuation professionals work closely with your Quill accountant and financial planner to provide a seamless solution for you.
What we can do
SMSF establishment
General fund administration
Audit and tax compliance
Tax and estate planning
Pre and post retirement planning
Trustee education and training
As a client of Quill, you receive consistent high-quality service from each of our teams to suit your lifestyle today and into tomorrow.