Written by Barbara Smith AM, Dr Brett Davies, Dr Ed Koken
I am honoured to have joined forces with well-known and award-winning authors Barbara Smith AM and Dr Ed Koken to produce the fully revised book: Self Managed Superannuation Fund Guide.
This practical, plain English guide is a valuable tool for everyone involved in SMSFs. This includes trustees, members, lawyers, accountants and advisers. It is tax deductible when the book is used for looking after your SMSF.
You can purchase your own copy directly from the publisher and get it updated continually online here.
ORDER TODAY, it helps you complete your individual and SMSF tax returns.
Why is it important to read the book: SMSF Guide?
The Australian book Self Managed Superannuation Fund Guide is important for individuals who are interested in managing their superannuation funds. It is important to digest the advice in this book:
Understanding the rules and regulations:
Self-managed superannuation funds are subject to specific laws and regulations in Australia. The book provides detailed information on these rules. These include contributions, investments, taxation, compliance, and reporting requirements. Understanding these regulations is crucial to ensure compliance and avoid penalties.
Making informed investment decisions:
SMSFs offer greater control over investment choices compared to other superannuation funds. The book provides insights into various investment options, risk management strategies, and considerations for diversification. It also helps you make informed investment decisions that align with your financial goals and risk tolerance.
Maximising retirement savings:
Proper management of an SMSF can result in increased retirement savings. The book offers strategies to optimise contributions, take advantage of tax benefits, and manage costs effectively. By understanding the intricacies of SMSFs, individuals can work towards maximising their retirement savings with their financial planner and accountant.
Planning for retirement:
Retirement planning involves setting financial goals, estimating retirement income needs, and managing pension phase requirements. The book guides these aspects, helping you develop a comprehensive retirement plan that suits your specific circumstances.
Avoiding pitfalls and risks:
Managing an SMSF comes with certain risks and potential pitfalls. The book highlights common mistakes to avoid, provides insights into potential risks, and offers strategies for risk mitigation. By being aware of these factors, make more informed decisions and minimise potential negative outcomes.
Starting and winding up a Self Managed Super Fund
It explains what you need to do to start an SMSF including best practices in the SMSF Deed, the value of a Special Purpose Company as the trustee, how to update the SMSF Deed and how to get rid of a SMSF.
Overall, reading the “Self Managed Superannuation Fund Guide” equips you with the necessary knowledge and understanding to effectively manage your superannuation funds, make sound investment decisions, and work towards achieving your retirement goals.