Everyone has heard of super funds, but what actually is an SMSF?
SMSF stands for Self Managed Super Fund. Put simply, it’s a bank account with rules.
- You can have up to 4 members of the super fund who are called Trustees.
- The balances of these 4 members can be pooled together.
- Trustees also have direct control over the investment strategy of the fund.
An SMSF is taxed at 15% on the income of the fund.
If you would like to find out whether a SMSF is right for you, have a chat to us!