Self Managed Super Funds have experienced a 26% growth in the past four years, with over $560 billion in total assets, making it a viable investment choice for individuals who want to take control of their finances. SMSFs can be used to invest in cash, direct shares and property. Because of its popularity, SMSF have recently reached the 1 million member mark.
Although SMSFs are enticing right off the bat, this investment type is not for everyone. Always seek professional advice so that you have a clear understanding on how to setup your superannuation for SMSF, as well as the tax concessions you can avail and on how to avoid penalties.
Read more about this on the Brisbane Times website.