Self-Managed Superannuation Funds (SMSFs) provide great flexibility so you can invest in a broad range of investments including direct property, shares, managed funds, fixed interest, cash, gold and even certain collectables.

Australians can choose to put their personal super contributions with an independently managed superannuation fund (such as retail or industry fund) or their own Self-Managed fund.

Self-Managed Super Funds (SMSFs) function in the same way as any other super fund, by investing contributions and making them available to members on retirement. However, the key difference is that the members of Self-Managed funds are also the trustees and are therefore in control the investment of their contributions, the payment of their benefits and how the funds are invested (SMSF investment strategy will be covered later on).

Typically, with your own Self-Managed super fund (SMSF) you are able to decide what you invest in and when your benefits are paid, as long as you comply with superannuation laws governed by the ATO and the Superannuation Industry (Supervision) ACT 1993.

If you don’t already have your own DIY super fund but are interested in setting one up, you should meet with a superannuation tax professional or licensed financial planner. They will help you decide whether Self-Managed super is right for you and, if it is they will help you to establish your own fund.

Try our SMSF enquiry form here to get further assistance.