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Introducing Self Managed Superannuation Funds
Self Managed Superannuation Funds, or SMSFs, are the fastest growing investment vehicle for those who wish to have input into the direction of the superannuation fund of which they are a member.
With extensive experience in the design, administration and strategic planning of SMSFs, Bastion is able to provide clients with a fully integrated service for managing all their superannuation fund needs.
Some basic facts
A Self Managed Superannuation Fund is a legal entity, and as such has obligations under various Federal Acts.
All superannuation funds are trust funds set aside for the purpose of providing retirement benefits, and have Trustees, who are either the members or a corporate trustee controlled by the members.
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The Trustees control the fund assets on behalf of the members who are ultimately entitled to the fund's assets.
Being Self-Managed means that the fund is controlled by the members for the members. This is possible since members can and must be both a member of the fund and a Trustee or a director of a Trustee Company.
Summary
We strongly recommend a Self Managed Superannuation Fund to those seeking to control their own retirement destiny. Although providing a most useful tax-advantaged vehicle from which to plan retirement funding, the core benefit of a SMSF is the ability of the members to control the operations of the fund. This commences with the fund, and using a lifetime model, it will also provide for beneficiaries. |
