Each type of superannuation fund has its own features but setting up an SMSF provides some unique advantages worth considering.
An SMSF gives the trustee options around tax efficiencies, investment flexibility and cost advantages once the fund has grown to a tipping point. Perhaps the biggest advantage of an SMSF is having active control over the investment decisions for your retirement.
Here are six features of SMSFs:
- Business property leasing and deductions
- Buying and selling investments
- Control the timing of investments for tax advantages
- Potential cost savings
- Estate planning alternatives
- Asset protection from creditors
Source: Cuffelinks, 17 Oct 2018