SMSF stand for Self-Managed Super Fund and considered to be the most effective of all retirement fund currently available in the country. It is reported that currently. Almost 1 million of Australians have invested and operate their SMSF. Facts state that largest chunk of the superannuation of the country precisely 31.4% comprises of SMSF. This is basically due to the power and control that SMSF investment strategy tends to provide to its users.
SMSF doesn’t make its users the mainstream fund members but the trustee of the fund which in simpler words can be defined as the operator of the fund. This makes the SMSF investor the controller of the fund as he is responsible of all the decision making processes, all the financial and legal accountability falls in their lap. This responsibility enables them to fulfill all the legal requirements stated by Australian Tax Office (ATO) in the most appropriate manner as well as educate them of all the legal requirements involved in their fund.