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MASTIN HARRIS
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Is an SMSF Right for Me?

A quick, education-only checker to help you decide if it’s worth exploring a Self-Managed Super Fund (SMSF).

Approx. 2 minutes · 7 quick questions
Important: This tool provides general information only. It:
  • does not give personal financial advice or recommend that you set up (or do not set up) an SMSF
  • does not take into account your objectives, financial situation or needs
  • cannot cover the full SMSF trustee obligations under the SIS Act and Regulations, ATO guidance and case law
Any decision to establish, join or wind up an SMSF should be made with a licensed financial adviser or accountant authorised to provide SMSF advice, and with legal advice where appropriate.
Quick educational checker
Progress: 0/7 questions
1. Roughly how much super do you (and your spouse/partner, if any) have in total?
An SMSF is generally more effective once there is a reasonable pool of super to work with.
2. How involved do you want to be in investment decisions?
SMSF members (as trustees or directors) must set and follow a documented investment strategy.
3. How comfortable are you taking on legal responsibilities as an SMSF trustee/director?
SMSF trustees must know, understand and comply with the super laws and can be personally fined for breaches.
4. How much time are you willing to spend each year on SMSF administration?
SMSFs require an annual return, independent audit and documentation of key decisions and strategies.
5. What’s the main reason you’re considering an SMSF?
Some reasons align strongly with SMSFs; others may be solved inside a good retail/industry fund.
6. Are you prepared to pay for ongoing professional support?
Trustees can engage accountants, administrators and licensed advisers, but responsibility still sits with the trustees.
7. How do you feel about investment risk and responsibility?
In an SMSF, you decide the investment strategy and bear the risk of poor decisions or non-compliance.