Harris Planning can help you decide if a Self Managed Super Fund (SMSF) is right for you, and recommend a range of strategies to make the most of your opportunities.

As SMSF specialist we will:

• Provide advice on whether this investment vehicle is right for you.

• Establish a cost effective fund set up and management

• Provide Personalised Strategic advice

• Provide on-going reporting

What is a SMSF?

Self-managed super funds (SMSFs) are a way of saving for your retirement.

The difference between an SMSF and other types of funds is that the members of an SMSF are usually also the trustees. This means the members of the SMSF run it for their own benefit.

What are the benefits of establishing an SMSF?

The main rationale for establishing an SMSF is the increased level of control you have, as well as the investment choice and flexibility over how your retirement savings are invested. The fund can generally have access to a much larger and diverse class of investments than other super funds, including property, shares, cash or any other asset class that suits the investment objectives of the fund.

An SMSF allows up to 6 people to put their super savings together increasing their purchasing power, to buy costly assets such as direct property that may otherwise be beyond their reach.

Assets held within the SMSF can offer significant tax advantages over non-superannuation investments such as tax deductions for contributions taxed at concessional rates.

SMSFs come with tax benefits. The earnings within your superannuation fund are taxed at a lower tax rate of 15% and the earning within the pension phase are tax free. By choosing the right investment strategies, it’s possible to use the concessional tax nature of your funds to reduce the amount of tax you pay overall. For example, during your accumulation phase, your investment income is capped at a rate of 15%. When you transition into your pension phase, there is no tax percentage payable, CGT events included.

At Harris Planning we can help you explore the superannuation options available to you, establish an SMSF for you, manage your investments and arrange life insurance.