How to protect those retirement savings structures. Keeping the taxman happy while protecting your retirment savings will give you peace of mind for retirement.
If you know where you want to end up you can start to see steps that will get you there. Do you want to retire independently and become a self-funded retiree? Do you want that cheque coming in the mail box each month from investments? Once you have an answer you can start to plan.
Set up the correct legal structure will save you money by keeping the taxman happy. We all need to form alliances with people that will help us get to our destinations quicker.
SISFA, the Self-Managed Independent Superannuation Funds Association, chairman explains how to keep the tax man happy. Chris Balalovski, SISFA, speaks up for the interests of thousands of trustees and industry to Governement. A Non-Profit organisation was established in 1998 (incorporated in 1999) as Australia’s first SMSF advocate association.
This organization provides an important link between SMSF trustees, the superannuation industry, authorities and the community though its regular liaison on matters such as policy, proposed legislation and rulings impacting on SMSFs . SISFA helps self directed investors with SMSF structures maintain high standards through its professional membership and public education iniatives.
SUMMARY
3:15 Introduction to Chris and SISFA
4:40 Size of the SMSF industry
5:30 Private tax pension vehicle
8:00 Tax advantage explained
12:40 Ongoing professional advice is essential for trustees
15:40 Education and advocacy services
17:20 Breeches can result in prosecution
21:45 Recommended services
Connect with Chris online
Have you listened to the last episode of Retire Well Retire Happy Podcast?