Advivo Accountants Specialise in SMSF’s
Advivo Accountants proudly provide expert advice about the tax advantages of superannuation and will guide you every step of the way with your Self-Managed superannuation fund (SMSF). We strongly recommend talking to an expert when it comes to your personal retirement goals and any information in this article is general in nature and does NOT take into consideration your personal circumstance!
SMSF Minimum Balance
An SMSF can be an effective way to manage your retirement savings, the very first question we are asked almost every time is – “How much do I need for an SMSF?” There is no straight answer here and you generally need a reasonable amount of super to justify the costs of an SMSF, however there is no minimum balance required by law.
Question two is usually – “How much will an SMSF cost?”. While there are fixed costs, such as the administration fee and audit fee, this may be calculated as a percentage of the balance and will likely reduce as the balance increases. Overall the costs will depend on how you choose to manage your SMSF and the investment strategy, the more complex, the more likely the costs will rise.
Superannuation Specialist Support
It doesn’t end here, Superannuation in general can be overwhelming for some people and that is why they seek professional advice and support, the variety of investments available in a retail super environment can be complex and even more so with an SMSF, if you consider holding property in super, accessing ethical and alternative investments (not available in retail funds) or customising your life insurance policies or even borrowing within an SMSF, we can provide specialist and tailored advice for you.
Our dedicated team of accountants and superannuation specialists provide expert advice about the tax advantages of superannuation. If you are considering an SMSF, we can provide through our SMSF services, the specialist advice that will help you effectively manage the compliance costs and move forward.
Get in touch with us today to find out and learn more about the pro’s and con’s of having your own SMSF.