Tag: SMSF
- Why You Should Use a Company as the Trustee of Your SMSFWhen setting up a Self-Managed Super Fund (SMSF), one of the first decisions you’ll make is whether to have individual trustees or a corporate trustee. While individual trustees may seem simpler and cheaper upfront, the long-term costs, both financial and emotional, can be far greater. Here’s why Sharp Accounting strongly recommends a corporate trustee structure…
- Why You Should Revise Your SMSF Trust Deed Every 5-10 YearsWhen you set up your Self-Managed Super Fund (SMSF), the trust deed outlines the rules governing how the fund will be managed. But it’s not a one-and-done document. Over time, the law changes, and so do your circumstances. If your trust deed hasn’t been reviewed in years, it may be holding your fund back, or…
- Securing the Future of Your SMSF: Why an Enduring Power Of Attorney (EPOA) and Death Benefit Nomination MatterIf you manage your own SMSF, you’re likely focused on investments, contributions, and tax planning. But what happens if you lose capacity or pass away without the right documents in place? Many SMSF trustees overlook two key pieces of documentation that protect the fund and your intentions: a valid Enduring Power of Attorney (EPOA) and…
- Staying Compliant from Day One: Avoid These Common SMSF MistakesRunning your own SMSF gives you more control over your retirement savings, but with that control comes responsibility. From the moment your fund is set up, there are strict rules to follow. And unfortunately, many of the most common SMSF breaches are avoidable with the right advice and systems in place. If you’re planning for…
- Borrowing Inside an SMSF: What to Know Before You Consider Property InvestmentBuying property through your SMSF can be a great strategy, especially if you’re looking to invest in business premises. But SMSF borrowing comes with strict rules, added complexity, and often higher costs. Before you start the process, it’s important to understand what’s actually allowed and where the risks lie. How SMSF Borrowing Works Your SMSF…
- Understanding Your SMSF Investment Strategy: What It Should (and Shouldn’t) IncludeIf you manage your own SMSF, you’re legally required to have an investment strategy, and it needs to do more than just tick boxes. A well-structured strategy doesn’t just keep the ATO happy; it helps guide your decisions and ensures your investments reflect your retirement goals. What the ATO Expects Your investment strategy must be…
- SMSF Myths Busted: Is a Self-Managed Super Fund Right for You?Self-Managed Super Funds (SMSFs) often make headlines for the wrong reasons. If you’ve been wondering whether an SMSF is worth considering, or you already have one but want to make it work harder for you, let’s cut through the noise. At Sharp Accounting, we work with business owners and individuals who want to take more…
- Sharpen Your Numbers – FAQ: When should I set up a self managed super fund?Steve from Buninyong asked about setting up an SMSF, a question we’re hearing a lot lately. He wants to know when to set up an SMSF, how much is needed, and what investments are possible. While it’s a complex topic, SMSFs offer flexibility, allowing investments in shares, property, even exotic assets like diamonds or artwork.…
- Self-Managed Super ScamsRecent news highlights the prosecution of self-managed super fund promoters by ASIC, marking a crucial step in safeguarding unsophisticated investors from fraudulent schemes. These promoters targeted individuals unaware of their deceptive practices, promising lucrative returns while misappropriating funds for personal gain. In one case, investors lost a staggering $25 million to a cryptocurrency investment scam,…
- Self Managed Super FundsHave you considered SMSF to help you purchase your own business premises? Glenn takes you through how this strategy works for businesses.
