@Startatrix Hi, I would like to ask if anyone here has been buying stocks into their SMSF.I do not have one atm. I would like to here if anyone has recently started investing into their SMSF and what platform are you using to purchase the stocks? Did you create the SMSF online or through an accountant/financial planner? Has anyone managed to buy SYA shares into SMSF. Asking this, maybe there is a restriction and stock has to be in ASX200 etc? Can you transfer some of the existing superannuation money into the SMSF or you closed the old Super account and just use the new SMSF? Once into SMSF, do you buy/sell to reinvest the profit or do you just leave it? Happy to get some feedback. Thanks in advance
Here is my experience...
Commsec for purchases/sales of shares as this fits in with automatic updates to SMSF with e-super (set up online). E-Super has a $1000 annual charge I think. Accountants/Financial Planners are much more expensive, but you get the benefit of their advice and expertise.
Bought SYA via Commsec into SMSF. Previously used Aus Super Member Direct to trade but platform is awful and there are restrictions on what shares and how many you can buy. The restrictions in Member Direct are conservative measures to protect the capital of the member. No restrictions on SMSF as to what and how many you buy. Can be dangerous though if one is inclined to hold high risk shares.
You can roll over all or part of your existing super into a SMSF providing the SMSF is in Accumulation Phase (not retirement phase).
Once the SMSF in retirement phase there is no CGT on profits.
Unless you have purchased mainly ETF's and other dividend producing equities in the SMSF, then you will need to monitor the SMSF very closely, and make important decisions on when to buy and sell holdings. Having super In Aus Super (or similar fund) largely removes that micro management requirement.
The above is my research and experience only and is not advice. I suggest you do your own research to ensure you are making the right choices and decisions for your personal circumstances.
