: Grant Abbott
: The Guru's Guide to Self-Managed Super Funds The $700 Billion (And Growing) Super Powerhouse Explained
: Vivid Publishing
: 9781925681307
: 1
: CHF 10.50
:
: Betriebswirtschaft
: English
: 200
: DRM
: PC/MAC/eReader/Tablet
: ePUB
Whether you have or are considering a self-managed super fund (SMSF), are advising on a SMSF as an accountant, financial planner, auditor or product developer, or simply have an interest in Australia's $700 billion super powerhouse, The Guru's Guide to SMSFs will become your 'Go-To Guide' and SMSF pathway for years to come. Written by Australia's leading SMSF expert and adviser, Grant Abbott, The Guru's Guide to SMSFs will take you through: - The 'What', the 'Why' and the benefits of creating a SMSF and a Family SMSF, - Strategically benefiting from the SMSF law and how you can set your own rules to manage your Fund, - Making the most of contribution and investment rules to help you become a SMSF millionaire, - The investment rules of a SMSF and running multiple investment strategies at once, - Making the most of borrowing rules with your Fund, - The Pension Transfer Balance Cap rules and setting up the new and improved SMSF Version 2.0 - what it is and how it works, - Using a SMSF as a strong, secure estate planning vehicle, and - When and where to combine various trust vehicles with a SMSF.

Introduction

How to Best Use “The Guru’s Guide to SMSFs”

 

“Self-Managed Super Funds, SMSFs for short, have transformed so many Australian families financially and also provided the rock for the Australian share market in troubled times. With more than 700,000 Funds holding on average $1.2M, it is a great success story. With little or no tax, flexible investment choices from property to gold, shares and start-ups, those who have broken away from industry and retail super funds to start a SMSF, don’t look back.” – Grant Abbott

1. Introduction

Let’s face it, most of us here in Australia have superannuation somewhere. At last count, there were 14.8 million Australians with superannuation accounts amounting to more than $2.3 trillion. For many innocent employees, unaware of their power to change, it is probably tucked away in two or three superannuation accounts. In fact, I am so, so surprised when I do presentations, and I have done more than 1,500 on superannuation and Self-Managed Super Funds (SMSFs) over the years, that couples in their 20’s and 30’s, and embarrassingly in their 40’s, do not know where all their super is or how much they have. But with a little investigation they find, particularly those in the mid-30’s up that they have $100,000+ in their superannuation and when combined with their spouse this tidies up into a nice little amount of capital. Yet, like the GST, it is hidden and most people don’t take responsibility for it – even though it is a forced direct deduction from their salary and wages. And the banks, fund managers and industry funds love ripping the fees from the accounts of members that don’t take that responsibility. As they say – “use it or lose it”.

So at talks, to inspire a little passion in super ownership, I play the following game and you might want to play along with me.

And if you already have a SMSF then still play the game to see how you would go with some freewheeling monopoly ideas - but don’t use the figures shown in the game - use the total amount sitting in your own SMSF for all members which may include your spouse. As Trustee of your Fund and investment controller, you have complete control of where to invest – so let’s see how you go.

2. The Super Monopoly Game

Game O