Inside or Outside Super? Strategies for High Net Worth Investors
In life, change is the constant. Our personal circumstances change, unexpected surprises crop up and our priorities shif...
The Australian Securities and Investments Commission (ASIC) published a fact sheet showing the average annual cost of having a SMSF is $13,900. Since this publication the SMSF Association in conjunction with software provider Class, have suggested:
Source: Opinion piece written by CEO of SMSF Association, John Maroney.
Therefore SMSF expenses can be considerably lower than the suggestions by ASIC. This does not necessarily suggest that an SMSF will be an appropriate or cost effective structure for all. There are instances where a Self-Managed Superannuation Fund is a viable strategy with balances under $500,000 however specialist advice should be obtained for your personal circumstances.
ASIC also suggest that SMSFs with balances under $500,000 have lower returns after expenses compared to other retail and industry superannuation Funds. This is backed up by the findings in the ATO Property commission. SMSFs are best suited for those with a unique investment strategy that cannot be achieved within a retail or industry superannuation fund. This may include property investment, direct commodities, currency or very large cash holdings.
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