A couple in their late 40s approached Alexander Spencer with the goal of gaining more control over their investments and exploring property acquisition through a Self-Managed Super Fund (SMSF). The wife runs a successful beauty business, while the husband is less involved in the business but is highly interested in investing in shares and cryptocurrency.

A Self-Managed Superannuation Fund (SMSF) is a private super fund that provides individuals with complete control over their retirement savings. Unlike traditional super funds, SMSFs allow members—who typically also serve as trustees—to make personalised investment decisions. This flexibility is appealing to many Australians, though it comes with increased responsibility and compliance requirements.

With the new financial year upon us, it is important to consider what is changing for Self-Managed Super Funds (SMSF) starting 1 July 2023. A summary of the key changes for Self-Managed Super Funds is outlined below, so you can plan for the year ahead…

Are you ready for wage changes post 30th June? This year’s Federal Budget confirmed that superannuation on wages paid from 1st July 2021 will increase from 9.5% to 10%. There will be further increases each year by 0.5% until 1st July 2025 when the rate …