"Self-managed super can be more work than it's worth"
Tags: Super, SMSF, self-managed super
We’ve talked before about how self-managed super funds (SMSF) are not necessarily the best option for everyone (“How to access the benefits of a SMSF, without all the hassle”) – and we’re not the only ones that think this!
Check out this recent article from the Sydney Morning Herald, “Self-managed super can be more work than it’s worth”.
The number of SMSF’s being opened is declining, and the number of funds being wound up is increasing as people realise how much work is involved in maintaining a SMSF. As journalist Alexandra Cain says: “Expect this trend to continue with new rules which came in on July 1 that expose trustees that breach SMSF rules to fines of $10,000 or more. [But] it’s not just the threat of fines that leads people to close their SMSF. Although it may seem glamorous to own your own fund the reality can be a paperwork mountain.”
Escape the paperwork mountain, and talk to The Super Fund Co. today about our perfect alternative to self-managed super, where you can access the benefits of a SMSF, but without the onerous compliance, admin, time and cost burdens.
