Early last year the number of Self Managed Superannuation Fund (SMSF) members topped one million, according to the Australian Taxation Office SMSF statistical report.
Over the past four years the number of SMSF members has increased by a staggering 26.6%.
Clearly these statistics demonstrate that there is an overwhelming move by people wanting to take more responsibility for their personal retirement savings.
There has been much public commentary that SMSF are pushing up the price of residential property as the trustees of SMSF choose property on their core investment in their self managed superannuation fund. However, this opinion is not evidenced by the Australian Taxation Office statistics that show that residential property only accounts to 3.7% of total SMSF assets.
To ensure that your SMSF is structured and administered correctly please contact Peter Quinn by submitting an online enquiry or calling us on +61 2 9580 9166 to book an obligation free appointment.
The information in this document does not take into account your personal objectives, financial situation or needs and so you should consider its appropriateness having regard to these factors before acting on it. It is important that your personal circumstances are taken into account before making any financial decision and it is recommended that you seek assistance from your financial adviser.