Business Law

Self Managed Superannuation Fund

A Superannuation fund is a way to save for your retirement. In Australia, it is compulsory for an employer to pay a percentage of a worker’s salary into a super fund. Members may make a voluntary contribution to increase the investment. The trustees of the fund will invest the money in accordance with an investment strategy. If you wish to take control of your superannuation investments you may wish to consider establishing a Self Managed Superannuation Fund (‘SMSF’). 

SMSFs operate generally in the same manner to that of a “general” superannuation fund. The fund will be held by, and controlled by trustees. However with a SMSF, all beneficiaries must also be trustees (or directors of trustees if it is a corporate trustee). 

Advantages of a Self Managed Superannuation Fund

The trustee of a SMSF will have complete control over the investments, provided those investments are made in accordance with the relevant laws. The discretion to choose your own investment strategy will provide you greater flexibility and control into your financial affairs as a whole. The tax benefits associated with investing through your superannuation fund include reducing your income tax liabilities on your investment. A SMSF may also be a wise estate planning tool for you and your family, those assets being held within the SMSF generally falling outside of the estate on your death. Finally, if you operate a business it may be advantageous to purchase the business’ premises in the name of the SMSF trustee, providing security of tenure and certainty of return. 

Prime Lawyers' business lawyers can assist you in:

- Advising on the structure of the fund, obligations, rights and restrictions of trustees and beneficiaries so that you may make an informed decision.

- Setting up the structure including drafting SMSF Deeds, Trustee Declarations, incorporate a trustee company.

- Update your existing SMSF deed. Powers that may be conferred in law may not be exercisable by you if your trust deed does not allow it. This may mean significant tax - consequences and/or breach of your trustee duties.

- Changing trustees of the fund. If you have been operating your SMSF for a few years you may benefit from reconsidering the entity that is to be the trustee.

- Drafting documents with respect to borrowing money including establishing custodian trustees and drafting loan agreements.

If you require advice on a Self Managed Superannuation Fund we invite you to contact your nearest Prime Lawyers office. 

Blue Ribbon Payment Option

Please enter your full name and name of your ex-partner when prompted. We will use this information to search our data base to see if your ex-partner is a former or current client of Prime Lawyers. If we are prevented from considering your application due to a conflict of interest then we will notify you of such in writing or telephone. If there is a conflict of interest and we cannot act for you the contents of your application will remain confidential to Prime Lawyers management and will not be disclosed to nor accessible by any member of staff including lawyers.

Your Details
Your Ex-Partner's Details
Your Legal Issue
Marriage and Separation
Separation
Children
Financial and other circumstances of the parties Your ex-partners circumstances
Contributions
Tell us about you and your case

Please tell us about any other information which you consider relevant to your application. This can include details about your case, you or your ex-partner.

Attach Documents