Self managed super funds

The number of Australians choosing to manage their own super through a self managed super fund (SMSF) is larger than you might think. There are currently more than 350,000 SMSFs with a total of over 700,000 members. An estimated 2,000 new SMSFs are being established each month.*

Establishing an SMSF can provide an alternative retirement saving vehicle and can give you greater control and flexibility. The ability to choose your own strategy and investments, as well as the tax benefits of superannuation, make SMSFs a unique investment tool.

Before you decide to establish an SMSF, it’s important to consider a few key issues:

• Financially, SMSFs are generally only worth establishing if you have a significant level of assets as there are cheaper options, such as establishing a regular personal superannuation account
• The administration and record-keeping of an SMSF is onerous, extensive and rigorously monitored by the Australian Taxation Office, although it is possible to get assistance with this from professional administration providers
• All trustees are legally liable for the fund.

SMSFs can be complex, but Commonwealth Financial Planners are dedicated to making them simple to understand. If you would like to find out whether an SMSF may be appropriate for you, why not arrange an appointment with a Commonwealth Financial Planner? Simply phone 1800 241 996 or complete an appointment form.

Notes
*Source: ATO statistical report (self managed super funds), March 2007.

• Important information
  The information contained on this web page is of a factual nature only and is not intended to constitute financial product advice. It has been prepared by Commonwealth Financial Planning Limited without considering your individual objectives, financial situation or needs. You should consider its appropriateness in light of your circumstances and consider seeking professional advice relevant to your individual needs before making a decision based on this information.
  
  Superannuation and taxation considerations are general and based on present superannuation and taxation laws, rulings and their interpretation as at 16 January 2009.
  
  Commonwealth Bank customers who wish to obtain information about retirement planning may do so by contacting a Commonwealth Financial Planner. Commonwealth Financial Planners are Representatives or Authorised Representatives of Commonwealth Financial Planning Limited ABN 65 003 900 169, AFSL 231139, a wholly owned but non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 123 123 124.