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 Due to the COVID-19 restrictions in Victoria our office is currently closed, however we are continuing to operate remotely.

Best way to get in touch is via email, either to your accountant directly or to jstebbing@kjbaccountants.com.au

 

 

 

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Advantages of Self-Managed Superannuation

Managing your own superannuation has become extremely popular in Australia and there are many reasons why.  Superannuation regulations are very complex, but a basic summary of the main advantages would include: 

  • Significant tax concessions
    • Tax-deductible contributions and pre-retirement earnings within the fund are taxed at 15%
    • Once you have retired or turned 65 all earnings within the fund are tax-free
    • Once you have turned 60 all drawings from the fund are tax-free
  • The ability to borrow within your self-managed superfund to invest and access potentially greater returns.  Many people utilise this leverage concession to invest in property 
  • Greater control over your investment portfolio
  • Greater control over your retirement income
  • Can be more economical than paying a public superfund percentage fees for larger accounts

However, there are some disadvantages and a self-managed superannuation fund may not be right for your circumstances.  

AKJB Accountants & Business Advisors we can provide all the information you need to determine whether self-managed superannuation would be beneficial for you. 

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