The Australian newspaper printed an article this week communicating the success of Australian’s SMSF’s.
The article offers the opinion of the assistant deputy commissioner of superannuation – that Australian’s self-managed super funds are working infinitely better than critics expected.
The report also articulated that anyone with over $200, 000 in their super should consider setting up a SMSF, if only to get a clearer understanding of how retirement savings ought to work rather than if they stayed in a pooled fund.
There are over 530, 000 SMSFs in Australia and despite worries from critics that SMSFs would be a playground for scammers there have been minimal transgressions and the commissioner has found the vast bulk of SMSFs were well managed and trustees were well engaged in the process.
“It’s always refreshing to read informed opinions in the media from individuals such as the assistant commissioner of superannuation who is only inclined to offer unbiased, educated opinions on the matter.” Dylan Crowe, Managing Director Superannuation Property.