Self managed superannuation funds have become extremely popular in the last 5 to 10 years. This has been driven by many people contributing large sums into superannuation to gain large tax benefits, but wanting to manage their superannuation investments themselves.
What must be remembered with self managed superannuation funds is that they are a very complex area. If you make a mistake when operating your fund, the penalties (such as paying tax at 45% on your fund) are very high.
Kennas has a specialist self managed superannuation team who can advise you on all aspects of setting up or operating your own superannuation fund. We also handle all the administrative and compliance work for your fund, meaning all your tax and accounting work is kept in one place.
Make sure you get good advice before setting up a self managed superannuation fund. It's important to understand they are not for everyone. Call us today to go through your requirements, and for us to help you make the right decision for your retirement savings.