There are many advantages, which can loosely be classified into greater control, improved flexibility and tax planning. These are the main advantages:
- Greater choice of investments – including, for instance, commercial real estate and collectables
- Flexibility of tax planning and deferment of tax payments
- You can transfer assets ‘in specie’ – e.g shares, commercial real estate, term deposits
- Pool family assets into one vehicle, pay one fee (note that the entitlements of individual members will be accounted for)
- Flexibility regarding transition to retirement options, which can be very beneficial from a tax perspective
- Access to franking credits, which can be offset against tax payable by your super fund (or you can receive a refund if no tax is payable)
Find out about our FREE SMSF Set Up or Restructure offer, when you establish a Discrete Share Portfolio with Clime.