Employees earn compulsory superannuation guarantee (usually at a rate of 9% of ordinary time earnings) and many individuals make voluntary contributions towards their retirement savings. As a result, superannuation is a popular investment vehicle for individuals, in planning for their long term financial success.

A SMSF will generally offer members greater control over the investment decision making process, however it should be noted that SMSF’s are heavily regulated by the ATO.

There are strict rules around the use, investments and access to funds in superannuation. In addition to information available from eSuper Solutions, the Australian Taxation Office’s website (www.ato.gov.au) has some useful guidance including:

• Setting up a self managed superannuation fund (http://www.ato.gov.au/superfunds/content.aspx?doc=/content/00182478.htm)
• Running a self managed superannuation fund (http://www.ato.gov.au/superfunds/content.aspx?doc/content/46427.htm)

Remember:

• Seek financial advice and ensure you understand your ongoing obligations
• Consider whether you have the time and money to invest
• Seek assistance from professional advisors to help you understand the risks and laws

At eSuper Solutions, we take the difficulty out of managing the compliance requirements, allowing clients to focus on the more important things in life.