The expenses associated with running your own super fund can add up, so it’s important to understand which expenses you can, and can’t, claim as a tax deduction.
Research shows SMSFs are cost-competitive at balances of $200,000, prompting ASIC to remove its previous guidance that a minimum balance of $500,000 is desirable.
It’s a debate that never entirely goes away, but there’s a growing body of research that indicates you may not need as much to start your own super fund as previously thought.