SMSF advice

SMSF Advice

Self managed super funds (SMSFs) are becoming increasingly popular in Australia, with more and more people turning to them as a way to take control of their retirement savings. Below, we’ll discuss what they are and their benefits, how much money you need to start one.


There are several benefits to having an SMSF, including:

  • Control: With an SMSF, you have complete control over how your retirement savings are invested. You can choose your own investments and make decisions about when to buy and sell.
  • Flexibility: Offer more investment options than other super funds. You can invest in a wide range of assets, including shares, property, and even artwork.
  • Tax benefits: Offer a range of tax benefits, including the ability to claim deductions for contributions made to the fund, and the ability to receive income from investments tax-free after you turn 60.
  • Estate planning: Can be used as part of an estate planning strategy, allowing you to pass on your retirement savings to your beneficiaries after you pass away.

Contact our SMSF Adviser Perth specialists to learn more about the benefits to you.

What is an SMSF?

A SMSF is a type of superannuation fund that allows you to manage your own retirement savings. Unlike other types of super funds, where your money is pooled with other members’ money and managed by a professional fund manager, an SMSF is managed by you (and any other members of the fund). You have the power to make investment decisions and manage the fund’s assets.

How much money do you need in an SMSF?

To start an SMSF, you’ll need a minimum balance of around $200,000 – though $500,000 as a minimum is becoming more common. This is because the costs associated with managing an SMSF can be high, so it’s important to have enough money in the fund to cover these costs. However, there is no upper limit to how much you can have in an SMSF.

What can you buy in an SMSF?

SMSFs offer a wide range of investment options, including:

  • Shares: You can invest in Australian and international shares through your SMSF. This allows you to take advantage of the potential for capital growth and income from dividends.
  • Property: You can invest in residential or commercial property through your SMSF. This can provide a steady income stream from rental payments and the potential for capital growth.
  • Cash and fixed interest: You can also invest in cash and fixed interest investments, such as term deposits and bonds. These provide a stable source of income and are generally considered lower risk than shares and property.
  • Alternative investments: SMSFs also offer the ability to invest in alternative assets, such as artwork, collectibles. These investments can provide diversification and potentially higher returns, but also come with higher risks.

SMSFs offer a range of benefits for those looking to take control of their retirement savings. However, they also come with higher costs and responsibilities than other types of super funds, so it’s important to carefully consider whether an SMSF is right for you before making a decision.

Managing an SMSF can be complex and time-consuming, requiring a high level of knowledge and expertise in areas such as tax law, superannuation legislation, and investment management. Using a professional service provider, such as Wealthwise, can provide several benefits, including:

  • Expert advice: Wealthwise has a team of experienced professionals who can provide expert advice on all aspects of SMSF management, from setting up the fund to making investment decisions and complying with regulatory requirements.
  • Cost-effective: While there are costs associated with using a professional service provider, these costs can be offset by the potential benefits of having expert advice, avoiding costly mistakes, and ensuring the fund is managed efficiently.
  • Compliance: SMSFs are subject to a range of regulatory requirements, and failure to comply with these requirements can result in penalties and fines. Using a professional service provider can help ensure the fund remains compliant and avoids any potential issues.
  • Time-saving: Managing an SMSF can be time-consuming, requiring regular attention to investment performance, compliance requirements, and administrative tasks. Using a professional service provider can save time and allow you to focus on other aspects of your life.

In summary, using a professional service provider for SMSF advice, such as Wealthwise, can provide several benefits, including expert advice, cost-effectiveness, compliance, and time-saving. However, it’s important to carefully consider the costs and benefits before making a decision and choose a provider that aligns with your needs and goals

Get in touch

Book Free Discovery Session