{"id":5284,"date":"2022-08-11T14:18:17","date_gmt":"2022-08-11T14:18:17","guid":{"rendered":"https:\/\/businessner.com\/?p=5284"},"modified":"2022-08-11T14:18:17","modified_gmt":"2022-08-11T14:18:17","slug":"a-guide-to-effective-super-fund-self-management","status":"publish","type":"post","link":"https:\/\/businessner.com\/a-guide-to-effective-super-fund-self-management\/","title":{"rendered":"A Guide To Effective Super Fund Self-Management"},"content":{"rendered":"
Having an SMSF (self-managed super fund) may be well worth the investment, but it can be a hassle to manage effectively without the proper\u00a0self-managed super fund investment strategy<\/a>.<\/p>\n Whether you have an established SMSF or are looking to get one in place, here are a few notable things to keep in mind for effective self-management.<\/p>\n Unless you fully understand every facet of self-managing your super fund (and even then, a second opinion could help), seeking assistance from an SMSF specialist is generally the way to go.<\/p>\n Being the Controller of your SMSF, you\u2019re placed in the trustee role and must therefore abide by the rules that apply to anyone holding that position.<\/p>\n As stated by the ATO: \u201cYou are the person in control, and if you make a mistake, there can be serious penalties,\u201d which extends to making investment decisions for the fund. You\u2019re directly responsible for complying with designated super and tax laws.<\/p>\n As a reminder, an SMSF must be run to provide retirement benefits to its members and their dependents, and the ATO will periodically check the compliance of your fund with what is known as the \u201cSole Purpose Test.\u201d In addition, all decisions made as a trustee of your SMSF must be in the best financial interest of each of its members.<\/p>\n1. Get The Assistance Of a Qualified SMSF Specialist Advisor<\/h3>\n