Advantages of a SMSF
Some of the general advantages of SMSF are:
- Trustees can directly control investment invest as per her/his discretion
- Investment strategy is flexible can be changed easily compared to retal superfunds
- Greater flexibility to choose specific financial investments such as residential or commercial real estate investment or direct share ownership
- Ability to invest in art and collectables e.g. vintage cars or wine collection
- Potential cost savings in the long run compared to industrial superfunds
- Two or more superannuation balances can be joined in one SMSF which reduces costs
- Effective tax planning and tax savings strategies can be implemented
- Ability to include estate planning strategies easily
- Can be maintained in retirement as well as in the accumulation phase
Disclaimer: this article does not constitute afinancial advice, please consider to seek a profesional advice for any personal circumstances.
