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Self Managed Super Fund Benefits
There are numerous benefits of having your own DIY Super Fund. Here is a list of some of them:
- Self Managed Super Funds are allowed to control the timing of disposal of assets. This means that if you acquire an asset today and it appreciates by X % by the time you retire, you can roll it over to your allocated or complying pension fund and you will pay 0% tax on the realised capital gain of that asset.
- 10% tax payable on earnings from a Super Fund applies to assets disposed after having them for a minimum of 12-month period.
- Maximum tax payable on earnings from a Super Fund is 15% (this can be offset by imputation credits, currently at 30%).
- Minimum tax payable on earnings from a Super Fund can be 0%.
- DIY Super Funds' assets are in most cases protected from bankruptcy.
- DIY Super Funds' assets can invest up to 100% of the funds total assets in "Business Real Property" (fund members can use the money from the DIY Super Fund to obtain a real estate property for their own business).
- Super Funds allow for tax-deductible insurance premiums.
- There are no minimum contributions limits and no restriction on frequency of contributions to a Self Managed Super Fund.
- SMSF can generally invest in:
- Share market
- Money market
- Managed funds
- WRAP Accounts
- Ventures
- Real estate.
- SMSF can invest in / or with other Super Funds, Fund Managers and Master Trusts.
- SMSF can bank with any bank.
- SMSF can use any share trading institution.
- SMSF can have insurance with any insurance company.
- SMSF can use any independently selected financial planner, accountant, tax planner/agent or any other service provider.
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