In a nutshell,
Set up A Self-Managed Superfund
With Squirrel, you are in charge of your superannuation. We’ve made the process of setting up and running an SMSF simple and affordable, so you can focus on growing your nuts for retirement.
Be in total control of your superannuation with an SMSF
Squirrel’s intuitive platform allows you to set up an SMSF and then manage your superannuation yourself. With Squirrel, you take charge for how your super is invested. The risks and rewards of your investments are totally down to you.
Why Switch To An SMSF?
Invest How You Want
Whether you want to potentially save on investment management fees, take control of your risk strategy or invest in certain assets, there are many reasons people choose to switch to an SMSF. With the Squirrel platform you have full flexibility and administrative support for your SMSF. We are also a helping hand so you can make sure your investments comply with the ATO’s requirements.
Super Tax Benefits
Currently, the top marginal tax rate on your income is 45% (plus the Medicare levy) and tax on capital gains for assets held longer than 12 months is half your marginal tax rate. However, tax on your super’s income is just 15%, and 10% on capital gains and 0% in ‘pension phase’. Investing in property with an SMSF could prove beneficial from a tax perspective - but remember there are also risks to an SMSF.
Save On Fees
Our flat-rate administration fee, currently $140 per month (inc. GST) is low and does not increase as your super balance grows. That’s because, unlike some super funds, we don’t base our fees on a percentage of your super balance. Find out more on our setup and admin fees here.
See what you could invest your super in
Features
Have an investment strategy in mind? You can use your super to grow your wealth for retirement and we’ll assist you to make sure your SMSF is compliant with the ATO.
Invest Your Money
With an SMSF, you can invest your super, your way. Squirrel look after the SMSF setup and administration side, so you can focus on your investments - but remember, having this level of responsibility for your investment performance carries great risks if you are inexperienced.
Manage Your Investments
Buy and sell shares on the move, manage the ins and outs of your investment property and invest from a broad range of investments. With an SMSF, you’re in total control.
Secure And Safe
Our platform is secure from any unwanted possums or people accessing your account. You can be assured that your information is well-protected by our secure technology and we also do not share your details with anyone, without obtaining your permission.
Tree Of Support
As well as a super intuitive platform, you’ll have access to our hugely knowledgeable team of support staff. These guys and girls are the ones who look after the setup, accounting and audit process for your SMSF (not your investments however - that’s down to you).
Risks of an SMSF
Before you start an SMSF, it is important to fully understand that there are risks to consider. A few risks of an SMSF are outlined below:
We do not provide financial advice or advise whether an SMSF is appropriate for your financial objectives, circumstances, situation or needs. We recommend that you speak with a professional financial adviser before deciding to establish an SMSF so you can fully understand the risks, obligations and benefits involved.
Your SMSF will not be eligible for compensation from the compensation schemes available to APRA-fund members, if it suffers a loss as a result of fraud or theft.
The SMSF members have to resolve their own complaints or obtain their own legal assistance.
SMSF members do not have access to the Superannuation Complaints Tribunal.
SMSFs are regulated by the ATO and require regular compliance. You will be responsible for compliance and making sure you are able to keep up to date with changes in the laws and regulations.
SMSFs have costs to run the fund, including investing, accounting, admin, and auditing. You must consider if these costs may have a significant impact on your retirement. Make sure that your SMSF will have a balance large enough to warrant incurring these costs and have a cash balance to cover these costs.
Large super funds often offer discounted life and disability insurance. With an SMSF you would need to purchase your own insurance. Before terminating your existing superannuation account review your insurance and insurance options and costs as these benefits may not be available to you in your SMSF..
Benefits of Using Super To Buy Property
There’s a reason some of our clients use their superannuation to buy property through an SMSF.
- Property is generally considered to be a reliable long-term investment.
- A growing population means there’s a bigger demand for rental property.
- Your SMSF will receive rental income from your investment in property if it’s tenanted.
Responsibilities Of Investing In Property
Buying an investment property has many benefits, as well as various responsibilities and risks to consider.
- As a landlord, you will need to incur costs in using a real estate agent to manage the tenants in your investment property. This includes finding them, doing background checks, ensuring they pay their rent, and co-ordinating periodic repairs and maintenance.
- Your property’s value could decrease at a time when you need to pay member benefits, so ensuring you have other liquid investments in the fund can avoid having to sell an asset to pay benefits at a time when its value is depressed.
