Self Managed Superannuation Funds
SMSF STRATEGIC PLANNING
Correct strategic planning in your SMSF can have long term benefits. You can maximise the value of your SMSF both in your lifetime, and after your death. These options are all legally available in industry or retail funds, but are sometimes harder to implement within that environment.
Strategic options you can consider include:
- Start a Transition to Retirement Pension
- Accessing lump sum amounts from your fund
- Use of Binding Death Benefit Nominations to 'lock in' who should benefit from your superannuation monies after your death
- Loaning money to your SMSF to invest
- Introducing your children to the SMSF
- Use superannuation funds to buy premises for your business
- Using the CGT Retirement exemption to your best advantage
- Negatively gear an investment property in your SMSF, or simply borrow to buy a property in your SMSF
- Use of auto reversionary pensions to secure pension income for a beneficiary after your death
- Use of reserves to allow the payment of an anti detriment amount
The strategy that is most appropriate to a particular SMSF can depend on:
- Age & risk profile of the members
- Ability of the members to make additional contributions
- Family situation (e.g. a disabled child, or children of differing ages and needs from different marriages)
- Assets held outside superannuation.
The choice of strategy for your SMSF is an important decision. It is a complex and constantly changing area and we strongly encourage you to seek our specialised and personal advice.
Anne Rollason
CA SMSF Specialist
Partner, MSI Ragg Weir
