Book description
Taking control of your super is easier than you think
Now in its third edition, DIY Super For Dummies contains all the expert information and advice you need to confidently set up and manage your fund, navigate the ever-changing super rules, and invest your fund wisely.
Written in the straightforward but fun language that has defined the For Dummies brand for more than twenty years, this friendly and easy-to-follow guide helps you figure out if DIY super is the right way to go for your unique circumstances, shows you how to establish a self-managed super fund, highlights the many ways to contribute to your fund, considers how to make the most of the super tax incentives, and so much more.
With comprehensive new content explaining recent super changes announced by the government, and guidance on SMSF changes that have occurred since publication of the previous edition, DIY Super For Dummies gives you unprecedented and independent information to help you make informed decisions about your DIY super fund, empowering you to develop a successful long-term plan for retirement.
Explores how much super is enough for a comfortable retirement
Explains the super rules and opportunities in plain English, and outlines how to create a SMSF in ten steps
Delves into the costs of running a SMSF, and steers you through your fund's super CART (Compliance, Administration, Reporting and Tax obligations)
Explains how to pay a tax-free pension from your DIY super fund
Offers sensitive and authoritative information on how to take care of your family after you're gone
Take control of your retirement plans! —let DIY Super For Dummies arm you with the tools you need to set up and run a SMSF, and help you create a comfortable retirement.
Table of contents
- Introduction
-
Part I: Taking Control of Your Super
- Chapter 1: Is DIY Super Right for You?
- Chapter 2: Understanding How Super Works
- Chapter 3: How Much Super Is Enough?
- Chapter 4: Counting On Super Contributions of All Sorts
- Chapter 5: Getting the Right DIY Super Advice
-
Part II: Setting Up a DIY Super Fund
- Chapter 6: How Much Does a SMSF Cost?
-
Chapter 7: Simple Steps to SMSF Start-Up
- Knowing When to Go Solo or Seek Help
-
Setting Up Your SMSF in Simple Steps
- Step 1: Draft a trust deed (and choose a name)
- Step 2: Appoint the trustee (individuals or corporate)
- Step 3: Admit members (and supply Product Disclosure Statement)
- Step 4: Sign the ATO SMSF trustee declaration
- Step 5: Open a bank account
- Step 6: Establish accounting and administrative procedures
- Step 7: Accept contributions
- Step 8: Apply to be regulated (and other preliminary matters)
- Step 9: Draft your fund’s investment strategy
- Step 10: Prepare your fund for investing
- Before You Pop the Champagne
- Changing Super Funds
- Chapter 8: Individual Trustees versus Corporate Trustee
- Chapter 9: Trustee Declarations and Other Promises
-
Part III: Running Your Self-Managed Super Fund
- Chapter 10: Finding a Fund Administrator, or Not
- Chapter 11: Do the Right Thing — Compliance
- Chapter 12: Act Like You’re the Boss — Reporting
- Chapter 13: It’s Always Tax Time
-
Part IV: Investing Your DIY Super Money
- Chapter 14: Exploring the World of Super Investing
-
Chapter 15: Super’s Special Investment Rules
- SMSF Investing for Two Stages
- Remembering the Three Musts …
-
Wait! Set Your Fund’s Investment Strategy
- Identifying your goals — your DIY super fund’s investment objectives
- Assessing the insurance needs of your SMSF members
- Getting into position — your DIY super fund’s asset allocation
- Ready, set, go! Selecting, and monitoring, specific investments
- Reviewing your fund’s investment strategy and asset allocation
- Benchmarking Your DIY Super Returns
- Walking the Investment Tightrope
- Chapter 16: Borrowing and DIY Super
- Chapter 17: Investing in Property
- Chapter 18: Investing and Super Tax
-
Part V: Paying Super Benefits from Your Fund
- Chapter 19: Retiring is Just the Beginning
- Chapter 20: Your Super and the Age Pension
- Chapter 21: Running a DIY Super Pension
- Chapter 22: Making Contributions while Taking a Pension
- Chapter 23: Divorce and Your SMSF
- Chapter 24: Looking After Your Family
-
Part VI: The Part of Tens
-
Chapter 25: Ten Special Features of DIY Super
- Becoming a Member of a Fast-Growing Club
- Having No More than Four Members
- Appreciating that You’re the Boss
- Finding Flexibility
- Understanding It’s a Super Structure
- Managing Tax for You, Not for Thousands
- Running Two Phases, on Your Terms
- ‘Frankly, My Dear, I Love Franked Dividends’
- Creating Family Wealth
- Considering a Refund of Contributions Tax
-
Chapter 26: Ten Commandments of DIY Super
- You Shall … Always Remember You’re in Control
- … Comply with the Sole Purpose Test
- … Follow Your Fund’s Trust Deed
- … Comply with the SIS Act
- … Formulate an Investment Strategy
- … Not Break Any Investment Rules
- … Arrange for Your SMSF to Be Audited
- … Lodge Tax and Compliance Returns
- … Keep Your Fund Separate from Your Personal Finances
- … Seek Professional Advice When Necessary
-
Chapter 25: Ten Special Features of DIY Super
- Part VII: Appendixes
- Index
- About the Author
- Business & Investing
- Connect with Dummies
Product information
- Title: DIY Super For Dummies, 3rd Australian Edition
- Author(s):
- Release date: March 2015
- Publisher(s): For Dummies
- ISBN: 9780730315346
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