Specialists in SMSF for Geelong

SMSF – it’s an acronym that’s just about become the catch-cry of the investment and financial fraternity in recent years.

At CD&G Accountants, we’re finding ourselves increasingly busy fielding inquiries and helping set up superannuation funds for clients and this is one of the reasons we’ve become specialists in the field of SMSF in Geelong.

SMSF – it stands for Self-Managed Super Fund – is another way of building cash reserves for a comfortable retirement and is somewhat different from other more traditional superannuation funds because the members are the trustees and beneficiaries.

There are numerous benefits of an SMSF – among the most obvious are that you make your own investment decisions, enjoy a degree of tax relief and escape the high fees some funds charge – but before you leap headlong into setting up an SMSF be aware that’s it’s not a decision to make lightly and comes with its own headaches if not done properly.

One of the most common tripping points for novices setting up their own SMSF is adhering to the Superannuation Industry (Superannuation) Act and the various regulations that apply to the industry. The requirement to follow the rules might sound obvious and simple, but the evidence suggests that one prerequisite alone is enough to bring some people unstuck, let alone the other pitfalls that await the unprepared or uninformed.

Yes, there are many pros to an SMSF, including tax effectiveness and investment control, but there are just as many cons for the unwary, ranging from understanding and abiding the rules and regulations through to simple issues such as realising you can’t buy property for your fund and then sell or rent the property to family members.

Done properly an SMSF is an effective and rewarding method of accruing wealth for retirement. If you’d like to investigate an SMSF then you should talk to the experts in SMSF Geelong families and businesses rely on – CD&G Accountants. We can help with all aspects of SMSF, from set-up and structure, through to compliance and contributions.

Contact our professional team for more information or to make an appointment to discuss your own SMSF.