How to manage your Self Managed Super Fund

1. Should you decide to set up your own DIY Super fund all your existing balance can be transferred in your DIY Super funds name and you as trustee can make all the investment decisions. We can assist you in transferring your current balances.
    
2. Once the current balances are rolled over in your fund, you have total control over the funds bank account (you have the cheque book). And can invest the funds as you (as trustee) see fit with the aim of providing retirement benefits for the members of the fund (i.e. you and your family members).
    
3. We simply establish your DIY Superfund and do not manage or have any control over your super benefits.
    
4. To ensure that your DIY Super Fund adheres to the various investment and tax laws and complies with all legislative requirements, you appoint us as administrators who prepare accounts, tax & related returns of your DIY Super fund. We ensure that your fund is a complying fund and is concessionally taxed at all times.
    
5. Investment review.
   Trustees must review on a regular basis the investments of the fund and implement a strategy, which the Trustees believe will maximise the returns of the fund. Any strategy implemented must be consistent with the investment objectives of the fund.
   It is recommended that such a review be conducted:
   •  whenever a major investment is being proposed.
   •  whenever the members of the fund change;
   •  whenever poor returns are being generated from current investments;
   •  whenever there is a major change in the superannuation legislation; and every couple of years at least.
    
6. Establishing whether the members need insurance cover e.g. insurance policy for death, to be taken out by the fund ensuring a tax effective payment for the Super fund.