John Wasiliev of the Australian Financial Review interviews Kevin Smith and others on who to trust when seeking advice in respect to a SMSF.
“An advertisement on the internet offers to set up a do-it-yourself superannuation fund at no cost. It promotes total control over your retirement savings. But how do you assess this and will it suit you?
At a conference on property investing a keynote speaker claims a particular type of property will be great in a DIY fund. How seriously should you take this advice, especially if you don’t have a DIY fund?
How about a dinner party where a fellow guest talks about how he transferred his super from a public fund into a DIY fund from which he has started a tax-free pension. Having the fund also allows him personally to manage a share portfolio that enjoys not only tax-free investment earnings but also generous tax credits.
You know your accountant administers DIY funds – should you talk to him or her about these ideas?”
Read Full Article: Who to trust for advice (PDF)