LifeTime Financial Group Pty Ltd offers a specialised range of Directly Held Investment Account (DHIA) services.

We are accredited with SPAA (SMSF professionals Association of Australia), the peak professional body for Accountants, Financial Planners and Lawyers who offer specialised services and advice in this more complex area of Investing.

Anthony Stedman and Adam Watts both hold the SMSF Specialist Advisor™ accreditation.

We constantly come across clients who have been talked into setting up an SMSF arrangement and we often shake our heads in wonder. Whilst the technicalities of an SMSF are quite complex, there are a few simple common sense rules that should always govern your decisions.

 Do you have a minimum of $200,000?

This is the recommended minimum as noted by the ATO for anyone considering an SMSF arrangement. We believe that $200,000 is not enough. We believe that $250,000 is an absolute minimum because of the costs of set up and ongoing management and tax reporting. Please visit the ATO to read their publication on this.

 Don’t hold all your eggs in one basket…

Whilst this seems to be sensible, we are continuously meeting clients who have set up an SMSF arrangement to hold a property. We are extremely concerned about this if the only asset you own in the SMSF is property. Particularly if you have had to borrow funds to complete the purchase.

We often meet clients who have been sold the idea of an SMSF by people who are spruiking property ownership in Superannuation. particularly those who want to sell you a property that is still in the construction phase. On the surface, this may seem attractive. We would strongly recommend that any client seek the services of a Financial Planner who specialises in SMSF Advice prior to committing to a purchase such as this.

Whilst Anthony Stedman and Adam Watts are accredited SMSF specialist planners, the SPAA website is a great starting point to find someone local who is accredited. Another great way to find someone to assist is to speak to friends who may have already found an Accredited planner that they are comfortable with

My friends have a Gold Coast apartment in their SMSF which they use during the school holidays…

There is one really simple rule that will answer a lot of your potential questions…

If you use or enjoy an asset in Superannuation before you have retired, then it is in all likelihood against the law.

SMSF are really complex…

Whilst it is true that SMSF rules are complex, an accredited planner is ideally positioned to assist you in getting the most out of SMSF.

Understanding what you are doing makes all the difference and Superannuation can become an engaging experience.

We have prepared a set of Pros and Cons that may help in gaining a better understanding of whether SMSF is right for you. Please click here


© Lifetime Financial Group 2014