objective analysis of today's events, page-42

SMSFs are subject to all sorts of rules and regulations, but they have huge tax advantages, not least of which is that once one is over 60, and drawing a pension from the fund (i.e. in pension phase as opposed to accumulation phase), then all pension payments to oneself are tax free, AND all earnings within the fund are tax free. So - no Capital Gains Tax on profits from trades or investments, no tax on dividends, etc etc.

Great explanation NightStalker. It is like my personal 401K plan up here. But I do get taxed as ordinary income when I start to draw on it (nearly twenty years from now). And my toddlers get estate taxed if they put me in the grave before I can draw on it.:-) And in 401K the commissions are too high in it for me to do anything but medium and long term trades with it. It sounds like there is no leverage in either the 401K or SMSF as well.