Self Managed Superannuation Funds

When considering any structure, you want to assess how suitable it is for your and your circumstances. Things to consider, include:

  1. The status of the structure in relation to income tax, capital gains tax and land tax.
  2. The status of the structure in relation to asset protection.
  3. The level of control provided by the structure and succession planning considerations.
  4. The flexibility to change as circumstances might dictate.
  5. The initial and ongoing costs associated with setting up and running the structure.

A self managed superannuation fund is a type of trust with significant taxation benefits. However this structure cannot be used to conduct a business. Whilst a self managed superannuation fund might be an important part of a business structure in the sense that it might hold the commercial property from which a business trades, receiving rent from the individual, company or trust which operates the business, the fund itself cannot operate the business.

If you are considering your a Trust, your Estate Plan, asset protection or business structures, it is important that you seek appropriate legal advice, so you are aware of your rights and where you stand. Contact Carter O’Neill Legal today to speak to our Gosford lawyers on (02) 4308 8892 or our Mona Vale lawyers (02) 9171 7339 to discuss any of your legal needs.