Superannuation is a way to save for your retirement. The money comes from contributions made into your super fund by your employer, your business and, ideally, by your own money. Sometimes the government will add to it through co-contributions and the low income super contribution.

Over the course of your working life, these contributions from your employer add up, or ‘accumulate’. Your super money is also invested by your super fund so it grows over time. When you retire, you will have money to live off – a nest egg. Super is a lifetime investment that has many benefits, including being a taxeffective environment.

Self-Managed Superannuation Funds (SMSFs)

An SMSF is a legal tax structure with the sole purpose of providing for your retirement. SMSFs are regulated by the Australian Taxation Office (ATO). Money or assets are held and managed on behalf of up to four members. Each member is a trustee (or director if there is a corporate trustee)

SMSFs allow you to control how your funds are invested. Greater choice of investments and the ability to diversify your risk mean you can have a greater impact on your own future wealth.

At Blossom Financial Planning, we can help you set up your SMSF. We can also assist with the ongoing requirements of running such structure, including preparing investment strategy, researching the right investments, budgeting for ongoing expenses, asset reporting, etc.

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