Our office is open during business hours, however on some days some staff are working from home.
Best way to get in touch at present is via telephone on (03) 9399 7288 or email (either to your accountant directly or to
Advantages of Self-Managed Superannuation
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.
At
KJB Accountants & Business Advisors we can provide all the information you need to determine whether self-managed superannuation would be beneficial for you.