6 steps to determine if a SMSF is right for you



SIX (6) important steps to work out if managing your own super is right for you. They are:


1. Consider your options and seek professional advice:

You should strongly consider all your super options before making a decision about managing your own super. 


2. Make sure you have enough assets, time & skills:

Consider the amount of time, money and skill you’ll need to devote to managing your own super fund and whether it’s worth your while. 


3. Understand the risk & laws:

All financial decisions carry risk, so it’s important to think carefully about how you choose your investment options to balance the level of risk against the level of financial return. You also need to be sure that your super investments are legal. 


4. Make sure your trust deed and investment strategy are tailored to suit the members:

Regularly review whether the trust deed and investment strategy still meet the needs of your fund and update them when required. 


5. Make sure you can meet your record keeping and reporting obligations:

One of your responsibilities as a trustee of an SMSF is to keep proper and accurate tax and super records to manage your fund efficiently. 


6. Make sure you understand the auditing obligations:

You have a legal obligation to have your SMSF independently audited annually. If you would like more information on SMSF’s, SMSF’s Loans , or you would like to establish if a SMSF is appropriate for you, or you may want some help and assistance in better understanding SMSF’s – please do not hesitate to contact us.


Find out more! Download the PDF:

pdf Thinking About Self Managed Super? 


Disclaimer: the information provided is for your information and interest only, and is not intended as financial advise. The information is not intended to be comprehensive and does not constitute and must not be relied on as taxation and legal advice. You must seek your own specific advice tailored to your circumstances. We do not hold an Australian Financial Services License (AFSL), as we have strategic alliance professionals who hold an AFSL licence in their own right.




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