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Post by Wayne Shultz on Apr 18, 2024 13:15:11 GMT
A Self-Managed Superannuation Fund (SMSF) is a private superannuation fund established by individuals to manage their retirement savings. SMSFs are regulated by the Australian Taxation Office (ATO) and offer members greater control over their investment decisions compared to traditional superannuation funds. Members of an SMSF act as trustees and are responsible for managing the fund's investments, compliance with regulatory requirements, and administrative tasks. SMSFs can invest in a wide range of assets, including shares, property, cash, and managed funds, providing flexibility and diversification opportunities for members' retirement portfolios. However, SMSFs also come with additional responsibilities and administrative burdens, including record-keeping, reporting, and compliance with superannuation laws. Therefore, establishing and managing an SMSF requires careful consideration, financial literacy, and a commitment to fulfilling regulatory obligations to ensure the fund's long-term success. SMSF Sydney
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