Aaron WhybrowGeneral Manager, Strategic Mortgage Broker

SMSF: 2 Traps - Management/Advisors/Tax/Compliance

Name: SMSF: 2 Traps - Management/Advisors/Tax/Compliance
Uploaded: 2019-05-21T02:04:10Z
Duration: 1 min 16 s
Channel: Aaron Whybrow
Description: Aaron Whybrow outlines two major SMSF pitfalls: inadequate management and poor advisor selection. SMSFs demand active compliance, especially when…

21 May 2019 · 1 min

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1:16

Aaron Whybrow outlines two major SMSF pitfalls: inadequate management and poor advisor selection. SMSFs demand active compliance, especially when borrowing, so you need a solid accountant for tax and returns plus a financial advisor who handles legislation, insurance, and investment strategy.

Wait, wait just one second second. Follow up video for the Self Money Super Fund pitfalls There's many different pitfalls that people can get into and there's a whole range of compliance and legislation around self managed super funds when they go to borrow or as they need to be managed. Because self managed means that you are in charge of it yourself. So biggest advice and tips that I can give you. One is have an accountant, a really good one that can deal with your taxation and other returns that need to be dealt with for your self managed super fund. The other one is have a good financial advisor so that you are covered for all the aspects of the legislation, whether it's insurance, the advice on the assets, not just having your money sitting in a bank account. Maybe there's other strategies that they can bring into place to help you out there as well. So Self Money super fund you can borrow money. Second of all, make sure it's fully managed with the right advisors on your side so that you are compliant for any audits that may come down the track and you'll be able to achieve your financial goals with the vehicle that you've set up to be able to achieve it. All right, enjoy and talk to you soon.