Making the most of self-managed super funds

READY TO HELP SET UP SELF MANAGED SUPER FUNDS… Principal with SDP Tax Accountants, David Fitzgerald has had 20 years of experience. Photo: Steve Hutcheson

As we passage through this year’s tax time, there is an advantage to look at how individual super funds are being managed  heading into the future. With the downturn in the economy, the returns from the large super funds this year have been poor and many people are turning towards self-managed super funds (SMSF) as an alternative.

With some SMSF, people are taking the opportunity to invest in income producing property that, with  recent changes to rules, enables the funds to borrow up to 65% of the valuation. Similarly, as a SMSF manager, people can decide where they invest in stocks and bonds .

There have been a number of other rule changes that relate to aspects of SMSF such as contributions, withdrawals and annual audits. In getting the most out of a SMSF does need guidance in what can and can’t be done and how best to spread the investments.

Putting aside 9.5 percent of your pre-tax income up to $25,000 and $100,000 after tax gives opportunity to develop a substantial portfolio within a SMSF over time.

SDP Tax Accountants  have built a solid reputation assisting people to establish and manage more than 100 funds ranging in size from a few hundred thousand dollars to several million dollars.

SDP Tax Accountants are located on the corner of Corio and Ashenden St and you can make an appointment by calling them on 1300 436 829