Top Reasons to Establish a Self-Managed Superannuation Fund

Top Reasons to Establish a Self-Managed Superannuation Fund

A Self-Managed Superannuation Fund (SMSF) is a private fund that offers various benefits over a standard super fund. There are a number of reasons to establish a Self-Managed Superannuation Fund, and it is vital to thoroughly consider the advantages of establishing one. 


 1. More Investment Access and Control 


Establishing an SMSF allows you to invest in a broader range of assets, giving you more power to diversify your portfolio and potentially boost returns. A self-managed fund enables you to invest in assets such as direct property, shares, bonds, term deposits, crypto currencies, and collectables. Collectable items cannot be used by members of a self managed superannuation fund. You also gain complete control of the assets within your fund, meaning you can make instant asset sales and purchases–a benefit that is not available in a conventional super fund. 


2. Ability to Make Investment Decisions  

When you have a self-managed fund, you can also control the investment decisions for your fund without having to rely on the investment decision-making of an industry fund trustee. As trustee of your SMSF, you can make investment decisions suitable for you.  However, investments need to be in line with your investment strategy and within the allowed investment types as governed by superannuation legislation and the Fund Deed. 


3. Control of Withdrawals 

If you meet a condition of release, including attaining age 65, you have more flexibility over how you choose to withdraw your member benefits. You can commence a pension and take regular fixed amounts or infrequent lump sum withdrawals when it suits.  You would generally work with a financial advisor around retirement planning and accessing your super.  Please be mindful, there could be tax implications for withdrawing funds from your super if age under 60. 


4. Effective Tax Management 

When you have a self-managed fund, you have more control of the way your fund is run and managed, which can help you ensure that you are paying a minimal amount of tax. There are many strategies that you can use to help you minimise the amount of tax that you pay while ensuring that you comply with your tax obligations. 


5. Control of Retirement Income 

A self-managed fund gives you more control over your retirement income, enabling you to make more informed decisions about your retirement. This can include deciding the appropriate amount you would like to retire on and planning your retirement in a way that is suitable for you. In a conventional superannuation fund, retirees usually have a limited amount of discretion to make their own decisions about their retirement. 



The benefits of having a self-managed superannuation fund can be significant in many ways. By establishing your own fund, you have more of a say including the level of flexibility and the amount of control you would like to have over your fund.  

Although you are more responsible for the management of your fund and for the decisions you make for your fund, the additional flexibility can be significant in determining the overall success of your fund. It is important to work with professionals who can help you determine whether a self-managed superannuation fund is right for you. 

Do you need a self-managed super fund accountant? Turn to Wardle Partners. We have built a reputation as the leading business accountants and SMSF experts in Caloundra on the Sunshine Coast. Contact us! 

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