Quick SMSF Accountants | SMSF Accountants Adelaide
A Self Managed Super Fund is a type of superannuation account to save for retirement and managed and controlled by the members of the fund. With a limit of up to six members in an SMSF each member gets trustees role. There are some exceptions for single member funds where some other rules apply. Each SMSF member must be superfund trustee or will be the director of the company which acts as trustee of the fund. As a member and trustee of the fund you will be responsible to run the fund according to the rules set by the regulator Australian Taxation Office. Advantages provided by an SMSF are control where as a member and trustee you have the control where to invest funds money and decide its day-to-day operation by following regulations. Investment choice by obeying the rule of the sole purpose test which means to provide retirement benefits SMSFs can invest in range to assets including property, shares, cash and other allowed by the law. Tax concession which is p...