What is a self-managed super fund (SMSF)?
A plain-English overview of SMSFs — control, trustee responsibility, costs, and when DIY administration may fit.
A self-managed super fund (SMSF) is a private superannuation fund that you run yourself (with other members, if any), instead of leaving day-to-day investment choice entirely to a large public offer fund.
In an SMSF, the members are typically also the trustees (or directors of a corporate trustee). That means legal responsibility for the fund sits with you: investment strategy, compliance with super laws, and decisions about contributions, benefits and benefit payments.
The appeal of an SMSF is control. Trustees can invest across a wide range of assets where the law allows — for example cash, listed securities, property and other assets — subject to the sole purpose test and other regulatory rules. The trade-off is responsibility and cost: SMSFs are not “set and forget”.
Running an SMSF requires annual financial statements, a tax return, an independent audit, and ongoing attention to record-keeping. Many trustees appoint a specialist administrator to handle that compliance workload on a fixed fee while they retain investment control.
Laterpath provides fixed-fee SMSF establishment and administration on a no-advice model. We do not recommend investments or tell you whether an SMSF is suitable for your personal circumstances. If you are unsure, speak with a licensed financial adviser and consider the total cost of running a fund before you apply.
If you decide an SMSF is appropriate, you can establish a new fund online or transfer administration of an existing fund to the platform, subject to published rules and fees.