What is an SMSF?
SMSF is similar to other super funds, the difference is that an SMSF is managed by you. This provides greater control but also involves more effort and responsibility.
If you’ve thought about investing in property, but don’t have enough funds to make an outright purchase. You may consider borrowing money and using it via your SMSF in order to leverage many of the benefits of traditional residential property investment.
How does it work?
SMSF are based on a trust structure which requires a trustee. Trustees are legally responsible for the management of the fund, Inclusive of assets. Trustees have the responsibility of administering the fund to ensure compliance.
Summary of SMSF compliance includes but is not limited to: