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  • Thinking about self-managed super

    If you set up a self-managed super fund (SMSF), you're in charge – you make the investment decisions for the fund and you're held responsible for complying with the super and tax laws. It's a major financial decision and you need to have the time and skills to do it. There may be better options for your super savings.

    An SMSF must be run for the sole purpose of providing retirement benefits for the members or their dependants. Additionally, all decisions you make as trustee of your SMSF must be in the best financial interests of the members. Don't set up an SMSF to try to get early access to your super, or to buy a holiday home or artworks to decorate your house. These things are illegal.

    It's best to see a qualified, licensed professional to help you decide. The Australian Securities and Investments Commission website has information about choosing a financial adviserExternal Link.

    Media: Why do I want an SMSF Link (Duration: 02:18)

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    Authorised by the Australian Government, Canberra. 

    Last modified: 01 Jul 2021QC 23301