SMSF performance

Discussion in 'Superannuation' started by switchtronics, Nov 8, 2015.

  1. switchtronics

    switchtronics Active Member

    Joined:
    Dec 16, 2011
    Messages:
    898
    Likes Received:
    66
    Trophy Points:
    28
    Location:
    melbourne
    Hi all. I wanted to start a thread to get feedback on performance, auditing costs of SMSF.

    How much is auditing costing you per year and is it easy to arrange?

    Are you getting good return from your SMSF via standard funds?

    What SMSF company did you use to setup ur fund?

    How did you structure your fund e.g. corporate trustees and has it offered you the best flexibility?

    Feel free to comment.
     
  2. switchtronics

    switchtronics Active Member

    Joined:
    Dec 16, 2011
    Messages:
    898
    Likes Received:
    66
    Trophy Points:
    28
    Location:
    melbourne
    elemental how's ur fund going? You have good advice on here.
     
  3. switchtronics

    switchtronics Active Member

    Joined:
    Dec 16, 2011
    Messages:
    898
    Likes Received:
    66
    Trophy Points:
    28
    Location:
    melbourne
    What's people's 2017 super resolution
     
  4. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

    Joined:
    Nov 15, 2010
    Messages:
    18,928
    Likes Received:
    2,240
    Trophy Points:
    113
    Location:
    昆士蘭
    Corp trustee to invest in RE.

    Regulatory costs are too expensive and unavoidable, eg 2 lots of ASIC fees per year (one for SMSF Corp Trustee, one for SMSF Holding company for investment property) in the vicinity of $250 each just so ASIC can say we are not trading insolvently. Every year. Every turtle-heading year. Give ASIC $500 for nothing every year. Of course I have to pay my accountant $100 to review and forward the company statement to ASIC. Every goddamn turtle-heading year. At least my accountant is actually doing something in the process.

    We're supposed to be trying to save for an independent retirement.

    Set it up with eSuper but they had a brain meltdown and abandoned us, run with an accounting/financial adviser now.
     
  5. Jislizard

    Jislizard Well-Known Member Silver Stacker

    Joined:
    Apr 7, 2011
    Messages:
    7,777
    Likes Received:
    522
    Trophy Points:
    113
    Location:
    Australia
    $250 each! I have one at $249 and one at about $49.

    Add in an auditing fee and eSuperfunds fee and still isn't that bad. A fair bit of work getting together all the documentation but it gets easier each year.

    I begrudge paying anything of course but eSuperfund was about $3000 cheaper than what my financial adviser was going to charge to set one up.

    I have many kilos of silver in the smsf and also some real estate, which should be positively geared within nine years.

    I am still required to use my industry super so I am not getting maximum use out of my smsf but it is better than nothing at all.

    Esuperfund does have some restrictions on what you can invest in and which companies you can use but it hasn't really stopped us from doing what we wanted with the fund.
     
  6. switchtronics

    switchtronics Active Member

    Joined:
    Dec 16, 2011
    Messages:
    898
    Likes Received:
    66
    Trophy Points:
    28
    Location:
    melbourne
    I'm actually looking at re also but do most outside of super atm using super for p.m.s.
     
  7. Jislizard

    Jislizard Well-Known Member Silver Stacker

    Joined:
    Apr 7, 2011
    Messages:
    7,777
    Likes Received:
    522
    Trophy Points:
    113
    Location:
    Australia
    Super is ok for buying pms as if you can salary sacrifice then you can buy the pms a bit cheaper than your personal stack.

    I have unallocated silver so the storage and insurance are taken care of.

    I am using the pms for GSR swaps. So far I have swapped most of my gold for silver, waiting for the gsr to switch so I can get my gold back with extras.
     

Share This Page