Establishing a self managed superannuation fund (SMSF) offers a variety of benefits, so it is perhaps no surprise that in the latest data released by the ATO, the number of SMSFs in Australia continues to grow as more people seek to take advantage of control and flexibility offered. However, taxpayers seeking to establish SMSFs should also be aware of the challenges and considerations that can significantly impact these funds’ suitability for individual retirement planning, such as the complexity and responsibilities involved.
