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How much do I need to set up a Self Managed Super Fund?

 

If you want to start of Self Managed Superannuation Fund (SMSF) the Australian Securities and Investment Commission (ASIC) recommends a minimum fund balance of $200,000. Less than this can be considered as not cost effective.

This is also dependent on your circumstances and objectives, as you should still consider setting up a SMSF with less than $200,000 if:

Some of the flexibility and control that attracts people to a SMSF include:

  • Greater control of your investments.
  • Ability to pool funds with up to three other individuals.
  • Effective tax management.
  • Retirement and estate planning flexibility.
  • Capacity to purchase a large asset e.g. property.

It also gets you actively involved with your superannuation and more focused on your end game.

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More Information

If a SMSF sounds like something that may suit your situation:

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