Should I start a Self Managed Super Fund?

Self-Managed Superannuation Funds (SMSFs) are becoming increasingly popular among Australians who are looking for more control over their retirement savings. With an SMSF, you can choose how your money is invested, and you can also have more flexibility with your retirement income streams.

At GPK Partners Chartered Accountants, we specialize in SMSF services and can help you set up and manage your fund. Our team of SMSF experts can assist you with compliance, administration, tax planning, and more.

One of the biggest advantages of an SMSF is the control and flexibility it offers. As a trustee of your fund, you can choose where to invest your money, and you have the ability to make investment decisions that align with your personal goals and risk tolerance. This means you can invest in assets such as property, shares, and managed funds that may not be available through other superannuation funds.

Another advantage of an SMSF is the flexibility it offers with your retirement income streams. With an SMSF, you can choose how and when you receive your retirement income. This means you can create a retirement income stream that is tailored to your individual needs, whether that be a regular income stream or lump sum payments.

However, with the increased control and flexibility comes increased responsibility. As a trustee of your SMSF, you are responsible for complying with superannuation and tax laws, and for ensuring that your fund is managed in the best interests of its members. That's why it's important to work with an experienced SMSF professional, like GPK Accountants, to ensure your fund is set up correctly and compliant with regulations.

If you're interested in setting up an SMSF, or would like more information on how an SMSF can benefit you, contact GPK Partners Chartered Accountants today to speak to one of our SMSF experts.