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10 Superannuation

Self-managed Super Funds

As previously outlined, a self-managed super fund (SMSF) is your own super fund that you manage and control.

All members of the fund generally must be trustees of the fund and you may have no more than four members in the fund at any time.

There are many benefits to starting your own SMSF however, running your own super fund places some important responsibilities on you (as Trustee), so understanding your responsibilities is critical.

It is also worth considering that generally you may need to have at least $200,000 to make running your own SMSF cost effective ignoring any other reasons for having the fund. However this may vary depending on how you operate your fund.

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