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SMSF's: The preferred wealth creation vehicle

Published on 01 Jun 11 by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE

In recent years, there has been a dramatic shift in the way in which clients and their advisers view superannuation. Many people now recognise superannuation funds, and SMSFs in particular, as another type of investment vehicle with particularly attractive taxation advantages. This trend has accelerated since the "Simpler Super" changes in 2007. The purpose of this article is to summarise the main reasons for that shift and to discuss potential options to overcome commonly perceived limitations of SMSFs in the family business/investment context.

Those limitations include the inability to access funds prior to satisfying a condition of release, investment restrictions and the in-house asset rules, and contribution caps and the draconian taxes imposed if they are exceeded. The author does not consider the associated taxation, financial or commercial consequences of using any of the options, and recommends that professional advice be taken before implementing any of the options discussed.

Author profile:

Matthew TRIPODI

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