Macro: It’s all about elections and keeping status quo
Markets are driven by election optimism, overshadowing growing debt and liquidity concerns. The 2024 elections loom large, but economic fundamentals and debt issues warrant cautious investment.
Saxo Markets
Summary: Self-managed superannuation funds (SMSFs) offer many advantages, such as complete control over investment strategy and decision-making. However, they can also be complex and time-consuming to establish.
The Australian Tax Office (ATO) says SMSFs must be set up correctly to be eligible for tax concessions, receive contributions, and be administered.
Fortunately, there are plenty of resources available to help you navigate the process of setting up and running an SMSF:
Start by reading up on SMSFs and the regulations surrounding them. The ATO has a wealth of information available on its website, including guides and fact sheets, while Saxo Australia also has range of resources on its SMSF Resources Hub.
It's possible to set up an SMSF on your own, but it is recommended to seek the advice of a professional. This could be an accountant, financial planner, or SMSF specialist who can help you navigate the complexities of SMSFs, consider whether they are right for you, and ensure you're complying with all necessary regulations. If seeking advice, select someone who is qualified, registered and licensed to offer SMSF-related advice.
Professionals can help you:
SMSF regulations and rules can change frequently, so it's important to stay up to date by checking the ATO website for updates and attending industry events and seminars.