Establishing a self-managed super fund has become very popular over recent years, and involves you managing your own superannuation fund. More than 1 million Australians now operate their own SMSF. They are regulated by the Australian Taxation Office (ATO).
You are a Trustee of the fund and are responsible for the ongoing management of your fund, including:
Many people establish self-managed super funds to gain access to a broader range of investment options not available in other superannuation funds, including shares, collectables, certain direct property investments and borrowing via Limited Recourse Borrowing Arrangements (LBRAs). (Refer to the Investments module for more details on investments information.)
It is important to realise that self-managed super funds can be a very complex area and should involve assistance from an appropriately qualifed and experienced adviser. Further explanation will be provided later in this module as well as in the separate SMSF module.
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