Self-Managed Super Funds

Who can be a trustee of an SMSF?

In a Self-Managed Super Fund (SMSF), each member must also serve as a trustee or a director if a corporate trustee is used. This structure ensures all members play an active role in managing the fund. An SMSF can have up to four members, but there are specific restrictions, such as prohibiting undischarged bankrupts from being trustees or trustees having an employer/employee relationship unless they are related. Understanding these requirements is crucial for maintaining compliance. If you’re setting up a Self-Managed Super Fund in Perth, our SMSF financial advisor Marijana can guide you through these obligations and help structure your SMSF effectively.

How much do you need to start a Self-Managed Super Fund (SMSF)?

While SMSFs provide considerable control and flexibility, they are most cost-effective when your superannuation balance is substantial. Generally, a minimum of $500,000 in superannuation savings is recommended due to the flat fee structure of SMSFs, which is more suitable for larger balances. By evaluating the financial implications and benefits, you can determine whether an SMSF aligns with your retirement goals. For tailored advice on establishing a Self-Managed Super Fund in Perth, our SMSF financial advisor Marijana is here to ensure your SMSF journey begins on the right path.

Can an SMSF invest in property or private companies?

One of the key advantages of an SMSF is the ability to invest in assets that traditional super funds often don’t allow, such as residential property and private companies. However, there are strict regulations to adhere to, like prohibitions on buying property from related parties and ensuring in-house assets do not exceed 5% of the total value of your SMSF’s assets. Properly navigating these rules is essential for compliance and maximising your SMSF’s potential. At LIFE Financial Planners, our SMSF financial advisor Marijana will help you manage your investments and align them with your broader financial strategy, ensuring your Self-Managed Super Fund in Perth serves your retirement goals.

Testimonials

Have been using Life Financial for 3 years now and Marijana has repeated provided us with the best possible strategies for our changing situations. We believe that the LFP team consider our financial security just as important as their other clients. Marijana, Mei and Donna have been very kind, easy to talk to and responsive to my calls and emails. We definitely recommend LFP without hesitation.

We have been seeing LFP for about 10 years now! We are so appreciative of their service and reminders to look after our financial future. It is a relief to leave our superannuation investments and insurances in their very capable hands. Would recommend them to anyone who does not already have a financial advisor.

We have been clients of Marijana and team for a few years now and they have been nothing but professional, caring and informative. Marijana is always happy to answer all of our questions and kept the process worry-free for us. We always look forward to seeing the team every year for our review. Thank you for everything you do for us 😊

We always receive Marijana and Mei’s full care and attention when needed, and cannot recommend them highly enough!

We are so incredibly grateful for the personal but very professional advice given by Marijana and Mei. After a lifetime of medical bills, transition to retirement was looking grim, but after meeting with the team at Life Financial Planners a few years ago, they really listened to our personal circumstances and we now have a clear, positive path.

We have been clients of Marijana and the team since 2006. During this time I have retired from working - a daunting time for most of us. The transition to retirement was quite smooth, thanks to the very professional advice we received. We have no hesitation in recommending Life Financial Planners to anyone seeking assistance with their financial planning needs.