Over 29,000 self managed superannuation funds were established in the 2009-10 financial year, taking the total number of SMSFs to 427,491. (Source: ATO, Sept 2010).
If you are contemplating a self managed superannuation fund or already have one then you may be interested in this useful SMSF Guide produced by Macquarie’s technical team. (Look in the section called ‘Education Centre’. The Guide is called “Self Managed Super Funds – from set up to wind up“)
Self managed superannuation funds are increasingly popular as people believe a SMSF gives them greater control over their money. However a SMSF is often not needed to get the level of control you desire. Read my earlier article to discover when you may or may not need a SMSF.