A Self-Managed Super Fund (SMSF) is a private superannuation fund that you manage yourself, regulated by the Australian Taxation Office (ATO). It offers more control and flexibility than retail or industry super funds.

An SMSF can have up to six members, all of whom must be trustees or directors of the corporate trustee. Members are typically family members or business partners. All trustees are equally responsible for compliance and fund management.

• Full control over investment choices

• Ability to invest in a wider range of assets (e.g. direct property, shares, term deposits)

• Greater flexibility in tax planning and estate planning

• Potential cost savings for larger balances

Trustees are responsible for:

• Ensuring the fund complies with super and tax laws

• Maintaining accurate records and documentation

• Lodging an annual tax return and arranging an independent audit

• Acting in the best interests of all members
  Failure to meet these obligations may result in penalties or the fund being made non-compliant.

There is no minimum required by law, but ASIC recommends a balance of at least $200,000 to ensure the fund is cost-effective when compared to traditional super funds.

Yes. SMSFs can invest in both residential and commercial property. However, strict rules apply:

• Residential property cannot be lived in or rented by a member or related party

• The investment must comply with the “sole purpose test” – to provide retirement benefits

Yes, but only through a Limited Recourse Borrowing Arrangement (LRBA). This allows the SMSF to borrow to purchase a single asset (such as a property), but the lender’s rights are limited to that asset only. Compliance is complex, and expert advice is essential.

EMUTAX provides end-to-end SMSF services, including:

• SMSF establishment and ATO registration

• Annual financial statements, tax return preparation, and audit coordination

• Ongoing compliance support and investment strategy reviews

• Expert guidance on SMSF structure, contributions, pensions, and tax minimisation

Typical SMSF costs include:

• Accounting and tax return preparation fees

• Audit fees (required annually by law)

• ATO supervisory levy

• Possible legal and financial advice fees
  While SMSFs can be cost-effective for high balances, it’s important to understand and plan for these expenses.

An SMSF may be suitable if you:

• Have a super balance of $200,000 or more

• Want direct control over investment decisions

• Are comfortable managing legal, tax, and compliance obligations

• Are seeking more flexibility in your retirement planning
  We recommend booking a consultation with EMUTAX to assess whether an SMSF is appropriate for your personal and financial circumstances.