Self-Managed Superannuation Funds
Self-managed super funds (SMSF) are a particular type of super fund, where the members are also usually the trustees of the fund. The trustees are totally responsible for the operation of the fund and this responsibility cannot be delegated to another party eg a financial adviser, accountant, etc. The only activity which trustees are responsible for, and cannot undertake themselves, is the annual audit.
Before making a decision to set up a self managed superannuation fund (SMSF) it is recommended that you read the following resources:
Types of funds - information on the different types of superannuation funds
Thinking about a SMSF - a 6 step process to work out if managing your own super is right for you from the ATO
Running a SMSF - defines the roles and responsbilities of a SMSF trustee from the ATO
SMSF advantages and disadvantages - information to help you make your decision
If you think that a SMSF is the right tool for you then you should explore the following topics in more detail:
This section of the website is devoted to specific rules which apply to a SMSF and how to administer such a fund. General superannuation rules can be found in the relevant superannuation section on this site.