If you do have the necessary time and consider yourself up for the challenge it can be very rewarding. Some of the benefits of a SMSF include:
 

• Total Control of your super by allowing you to choose what asset types and where your benefits are invested including shares, property, term deposits and other more exotics like gold bullion, CFD’s and collectibles.
   

• Lower Fees where your fund is of a size to enable you to take advantage of the cost benefit of fixed running costs vs a percentage of your account balance as your annual fee.
   

• Contribute Assets in addition to cash, allowing you to easily consolidate your investments into a future tax free environment. This strategy must be executed correctly and is restricted to listed shares, business real property and a few other assets specifically exempted by the SIS Act.
   

• Customise Strategies to meet your needs and circumstances specifically, rather than adopting standardised off the shelf strategies offered by industry and retail funds. If you are approaching retirement you can have both pension and accumulation accounts, which may reduce tax and grow your super benefits significantly.
   

• Taxation Benefits in pension phase are absolute with the ability to achieve a tax free fund and a tax free pension in full retirement for income and capital gains.
   

• Full Refund of Imputation Credits on any applicable dividend payments received, which effectively increase the investment rate of returns and increases your super account balance.
   

• Consolidate Your Super by rolling all your super accounts into one place, which is also available in most industry and retail funds but is effective in reducing overall super fees across multiple super fund accounts.
   

• Control Benefit Access by fully accessing all legally allowable benefits as they come due to you.
   

• Estate Planning can be significantly enhanced with the use of a SMSF, as it can’t be challenged as part of your estate. In some situations benefits can be retained within the SMSF tax free environment for allocation to your beneficiaries.