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Post by Wayne Shultz on Apr 9, 2024 23:09:55 GMT -8
A Self-Managed Superannuation Fund (SMSF) is a private superannuation fund established by individuals to manage their own retirement savings. SMSFs are regulated by the Australian Taxation Office (ATO) and are subject to strict rules and regulations. They allow members to have greater control over their investment choices, including direct investments in property, shares, and other assets, compared to traditional superannuation funds. SMSFs can have up to four members, who also act as trustees responsible for the fund's management and compliance with regulations. While SMSFs offer flexibility and potential tax advantages, they also require careful planning, investment knowledge, and ongoing administration to ensure compliance and achieve retirement goals. Therefore, individuals considering establishing an SMSF should seek professional advice to assess their suitability and obligations before proceeding. SMSF Gold Coast
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