The last decade has seen a massive growth in Australian individuals and families opting to manage their own Superannuation funds/retirement savings.
The self-management and growth of retirement savings is in the form of a Self-Managed Superannuation Fund (SMSF). APRA reported that SMSF assets at the end of March 2016, was $589.9 billion. This is almost 30% of the total superannuation asset pool of $2032.4 billion. At the end of 2015 there was close to 600,000 SMSF’s established with thousands more being created every quarter. The average SMSF balance is now more than $1 million.
This blog explores the rapidly growing business structure of Superannuation Funds in the areas of; tax, asset protection, control and succession, set-up and ongoing costs, and flexibility.
Read more of Katherine Hawes’ article for Women’s Network Australia here: http://www.womensnetwork.com.au/blog/business-structures-superannuation-funds#ixzz4gdbnGj3P