You will always have trouble with an SMSF for several reasons. Firstly you have difficulty reading things carefully. A cash account is not the same as a cash fund. A cash fund may be similar to a cash account, but it is not the same. Furthermore I said that I read the Regulations, as well as the Act. I never said that I read them to run the fund, only to ensure that it was compliant. Secondly, all your criticisms of the time/cost are superfluous. Do you not understand the concept of Self Managed? You manage these things yourself! That’s the whole idea - it’s a Self Managed Super Fund. SMSF. You develop your own investment strategy. If you can’t do that, an SMSF is almost certainly not for you imo. And why would you want a corporate trustee and PI insurance? Are you really going to sue yourself if your fund, managed by you, stuffs up? Any additional administration/costs incurred if any of the events that a corporate trustee might be beneficial for will almost certainly be dwarfed by the definite annual costs for the CT.
SMSFs are not for everyone. But if you have sufficient experience in financial and investment matters, and enjoy trying to beat the big boys or have an investment strategy that you can’t choose from the commercial funds, SMSFs can be fun. Much more interesting than having $100k in an AMP cash fund for sure. Although my preference is for getting out of super altogether into a lower cost tax environment - and no fees at all.
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