Whats the difference between a SMSF and a private super fund ? I...

Whats the difference between a SMSF and a private super fund ? I thought that your total contributions are capped at $1.6m for a single or $3.2M for a couple in total super contributions whether its privately held in your name or in a SMSF with your name as a director.

Its OK if you have maxed out your contributions and then through dividend reinvesting and/or share price capital appreciation if it goes onto exceed those contributions caps. Since I have been a self funded retiree for more than 5 years without a PAYG job during that time they have allowed us to access the proceeds of the SMSF before the mandatory age of 63.

I have been told not to go crazy with trading stocks inside the SMSF as the ATO may not take kindly to it and class you as a stock trader using it as a tax minimizing structure rather than something set up to help you not be in need of a pension. Fines and higher tax rates made be set on your SMSF if the tax office thinks its set up to doge taxes rather than setting aside contributions for your future. I have been told this by two accountants and have read it in news articles as well. I would ask your accountant if what you are doing inside your SMSF may attract unwanted attention if they ever look into it. There have been plenty of property developers that have come unstuck doing their business inside the SMSF and have been hit with crushing fines when it has come to the ATO's attention.