Superannuation & Retirement

Planning for retirement is one of the most important steps you can take to secure a comfortable and worry-free future. At Number Visions, we recognize that everyone’s financial goals and circumstances are unique. That's why we provide tailored superannuation services designed to help you build and maximize your retirement savings. Our experienced advisors are here to simplify the complexities of superannuation, guiding you in selecting the most suitable options to grow your wealth. By leveraging our expertise, you can benefit from strategic investments and tax advantages, ensuring your retirement years are as fulfilling as possible.

Self-Managed Super Fund (SMSF)

A Self-Managed Super Fund (SMSF) is a type of superannuation fund that allows individuals to manage their own retirement savings. Unlike industry or retail super funds, which are managed by professional fund managers, an SMSF gives you complete control over how your superannuation is invested.

What is an SMSF?

An SMSF is a private superannuation fund where the members are also the trustees. This means the fund is managed and controlled by its members, who are responsible for ensuring that the fund complies with superannuation and tax laws. The primary purpose of an SMSF is to provide retirement benefits to its members.

Setting up an SMSF

Establish the Fund: Register the SMSF with the Australian Taxation Office (ATO). This involves creating a trust deed, appointing trustees, and setting up a bank account.
Trustee Responsibilities: Appoint individual trustees or a corporate trustee. Trustees must comply with legal requirements and fiduciary duties.
Investment Strategy: Develop an investment strategy that aligns with your retirement goals and risk tolerance.
Compliance: Ensure ongoing compliance with superannuation laws, including regular reporting and audits.

Advantages of an SMSF

Control

An SMSF (Self-Managed Superannuation Fund) offers you direct control over your investment decisions, allowing you to personally choose where and how your superannuation is invested. This includes the ability to invest in a wide range of assets, such as real estate, shares, and cash, giving you the freedom to create a diversified portfolio that aligns with your investment philosophy.

Flexibility

With an SMSF, you have the flexibility to tailor your investment strategy to suit your individual financial goals, risk tolerance, and investment timeline. Whether you prefer a conservative approach or are willing to take on more risk for higher potential returns, an SMSF allows you to adjust your investments as your circumstances and market conditions change, ensuring your strategy remains aligned with your objectives.

Tax Benefits

An SMSF can offer significant tax advantages. Investment earnings within the fund are taxed at a concessional rate of 15%, which is often lower than personal income tax rates. Additionally, SMSFs provide opportunities to manage contributions and withdrawals in a tax-efficient manner, potentially reducing your overall tax liability and enhancing the growth of your retirement savings.

Estate Planning

An SMSF provides greater control over how your superannuation benefits are distributed after your death. You can establish binding death benefit nominations, which ensures that your superannuation is allocated according to your wishes, providing peace of mind that your loved ones will be taken care of in accordance with your estate planning goals.

Cost Efficiency

As the balance of your SMSF grows, the fund can become more cost-effective compared to traditional superannuation funds. Since SMSFs typically have a flat cost structure, larger balances can help reduce the overall cost per member, allowing you to retain more of your investment returns.

Investment Diversity

An SMSF allows for a broader range of investment options that are often not available in traditional superannuation funds. This includes direct property investments, collectibles, and other alternative assets. By diversifying across different asset classes, you can potentially enhance your returns and better manage risks, leading to a more resilient and balanced portfolio.

Transparency

An SMSF provides complete transparency over your investments, fees, and overall fund performance. Unlike traditional superannuation funds where you might not have full visibility into the underlying investments, with an SMSF, you have a clear and detailed view of where your money is invested and how each investment is performing. This allows you to make informed decisions, ensuring that your investments are aligned with your financial objectives and giving you greater confidence in your retirement planning.

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VIC 3013, Melbourne
hello@numbervisions.com.au
(03) 8087 9009

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