Self Managed Super Funds

Self Managed Superannuation Funds

Bailey Capital Management specialises in Self Managed Superannuation Fund (SMSF) Advice and administration. We have dozens of clients using our comprehensive service. The key features of our service are:

SMSFs are the fastest growing sector of the superannuation industry. Members want to have control and flexibility over the assets in the fund. With this greater level of freedom comes greater accountability to the Australian Tax Office to comply with all the obligations of this type of fund. Penalties can be severe – hence the need for professional advice on an ongoing basis.

Bailey Capital Management assists clients to achieve the benefits of a SMSF:

• The ability to actively participate in the management of the fund. This includes the greater feeling of control and security that comes with investing your own retirement savings and acting as trustee of your own fund
• The flexibility to tailor the fund to your own personal circumstances in relation to areas such as estate planning e.g. your spouse and children can become members.
• Greater control over expenses
• The ability to run an account based pension and accumulation accounts within the same structure
• The flexibility to manage the amount of tax paid by the fund by investing in assets which pay franked dividends, and offsetting the attached imputation credits against the fund’s taxation liability.
• The ability to invest in direct assets such as listed shares or property and also the opportunity to hold non-traditional assets such as antiques or art (subject to the fund’s investment strategy).
• Members can also make ‘in-specie’ transfers of assets to superannuation, whether it is listed securities, managed funds or business real property.

A SMSF is defined in the following way:

• It can have no more than 4 members in the fund
• All members of the fund must be trustees and all trustees must be members (the only exception is single member funds)
• Where the trustee is a company, all members must be directors of the trustee company
• Where a member of the fund is an employee of another member then there must be a family relationship between members
• The trustee cannot receive any remuneration for his or her services as a trustee. However, a trustee can receive remuneration for non-trustee services they provide to the fund in a separate professional capacity, e.g. investment advice.