SMSF Mythbusters – the “standard” trust deed

We’ve heard this so many times. You ask the question to a trustee or even an accountant or adviser  - “what trust deed are you using?”

And the answer is “oh, you know, just a standard SMSF trust deed”.

Standard eh…….is there any such thing ? Is it just a myth ?

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DIY Superannuation fund tips

There is no denying the continued popularity of  DIY Superannuation, however we often wonder how many of the 420,000 odd SMSFs in existence actually maintain a high quality fund that fully reaps the benefits of this unique retirement savings vehicle. Below we explore a few big picture tips to help you optimise your fund.

1. Get an up to date, non restrictive trust deed
The trust deed of your fund is where it all starts as it is essentially the governing rules of your fund. It tells you what you can and can’t do. If your doing something that your trust deed does not allow, then you’ve got a serious compliance problem. Pretty much any trust deed that was written pre-July 2007 (due to the many law changes that happened then) runs the risk of giving you serious issues. So make sure you have an up-to-the-minute, non restrictive trust deed that enables you to carry out any and all of the latest SMSF technical and investment strategies.
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How Self Managed Super Works

A Self Managed Super fund (otherwise known as a SMSF, or DIY Super fund) is a type of superannuation fund where you (and up to 3 other members of the fund) are also the trustee(s) of the Fund, and hence have complete control over its operation. With the increasing popularity of these funds, the purpose of this article is to provide prospective trustees with a simple overview of how DIY Superannuation works, and what’s involved.

So what is a Self Managed Super Fund ?
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