On 24 March 2021, in partnership with the Institute of Chartered Accountants in England and Wales (ICAEW), Gary Marsh of RSM Financial Services Australia Pty Ltd presented at a webinar about Self Managed Super Funds (SMSF).
In this session, we discussed the advantages and disadvantages of an SMSF, key considerations before starting one and insights on whether you should have one.
- Why do I need a trust deed and where do I get one?
- Can I hold the SMSF assets in my own name?
- Why is an 'investment strategy' required?
- What is the 'sole purpose test' - and why does it matter?
- What are the accounting, tax, and audit obligations?
- How do I make contributions and withdrawals, and pay pensions and death benefits?
- What are the costs of starting and running an SMSF?
- Tips and traps of running an SMSF