Running a SMSF

Choosing to run your own super fund usually means that you’re confident you can deliver better returns than the professionals.

As trustee of your SMSF you must draft an investment strategy, follow special investment rules, and choose investments that will deliver you a retirement benefit when you finish work.

The decision to run your own super fund also depends on how willing you are to get on top of the superannuation laws, and the tax rules and reporting requirements.

If you do have fund choice, and you’re considering a self-managed super fund then you need to start planning: your SMSF must be fully operational before you can change funds.

Below are some of our key Running a SMSF articles:

Set out below are all SuperGuide articles explaining Running a SMSF.

New penalties for SMSF trustees from July 2014   Super Guide

From July 2014, SMSF trustees can be subject to a suite of penalties, if they fail to properly adhere to the super rules.

Oops! Top 10 SMSF boo boos   Super Guide

The ATO has published the top 10 compliance mistakes that SMSF trustees make when running their self-managed super funds.

SMSF investment: Three most popular asset classes, and the rest (updated)   Super Guide

Each quarter the ATO releases self-managed super fund statistics derived from annual return data. Some of the more interesting data outlines the investments that SMSF trustees choose, and how much SMSF money is invested in the different asset types.

SMSF: How much does a DIY super fund cost? (updated figures)   Super Guide

Q: My wife and I are considering setting up a self-managed super fund. I asked two advisers for a quote on the set-up costs for a self-managed super fund with a starting balance of $600,000.

Are SMSF audits too expensive? (updated figures)   Super Guide

Q: SMSF auditors and administrators are charging rather high audit fees, perhaps because of the mandatory nature of these audits.

Aged care a consideration for SMSF trustees   Super Guide

The Aged Care reforms due to come into effect on 1 July 2014 will see retirees paying more for their admission to, and ongoing care in, aged care facilities.

Parental leave policy dilutes franking credits on dividends   Super Guide

SMSF trustees and other direct share investors, and all members of large super funds, will indirectly help finance the government’s proposed parental leave policy.

SMSF basics: Can I run two super funds? (2 questions)   Super Guide

Q: My wife is 58 and retired and she has her own SMSF, where she has rolled over her super funds from various employers. She plans to start her SMSF pension soon.

SMSF pensions:  Stick with original tax free and taxable components    Super Guide

Could you please tell me whether our SMSF pension fund earnings are tax free, taxable or are split in the same taxable/tax free proportion as existed when the pension phase began?

SMSF pensions: How do I start one?   Super Guide

Q: How do you change your self-managed super fund (SMSF) from accumulation phase to pension phase (husband aged 60, and retired) and transition-to-retirement pension phase (myself aged 57 and still working part time)?