Looking for setting up a Self Managed Super Fund? DoMyQuote can organise
- Tailored advice from personal investment and financial advisors
- Managing your fund's paperwork including tax returns, member contribution statements audits and other regulatory returns
- A knowledgeable and positive approach to dealing with your compliance problems that will also help you reduce your risk and liability, DoMyquote can help you find the best SMSF Service advisors. Self-managed super funds (SMSFs) are now the largest and fastest growing segment of the super industry.
Self managed super funds or widely known as DIY funds does the exact role as other funds, by expending contributions and making them accessible to members on retirement. The disparity is, broadly speaking, that the members of self managed super funds are also the trustees and they control the investment of their contributions and the payment of their profits. With all members being trustees, they are in a position to ensure their interests as members are fortified.
- It has a trust deed that meets the requirements of the Superannuation Industry (Supervision) Act 1993 (SIS Act)
- It has four or less members
- Each member of the fund is a trustee
- No member of the fund is an employee of another member of the fund, unless they are related, and
- No trustee of the fund receives any remuneration for their services as trustee.