Self Managed Superannuation Funds (SMSF's)

[bluelabel]

My wife and I are about to consolidate our individual industry run superannuation funds into one, which luckily I changed the investment strategies on about June last year so we avoided the crash and have actually been earning $$$'s instead of going backwards.

I started doing research on SMSF's a while ago, before xmas, and some of the literature I found to be a bit jargonish, so I thought a thread here might help to bring everything together and we will try and keep it simple (stupid) on APF.

So what I was hoping for in this thread is some hints tips and strategies for those who have, or a looking at starting their own SMSF. I know property can makes up a large portion of these, both commercial and residential. Or you could post some horror stories, and tips on what to avoid in SMSF's, either way lets get a cracking forum going. :thumbs:

:bier:

blue

[Ricky Roma]

I currently have a smsf for my whole family.. I find it relatively easy to run however have an accountant submit the required docs etc on my behalf and supply him with what ever information is required.

I suggest initial professional advise. I use our family accountant however have heard great reports of http://www.taxlegal.com.au/ as the director is one of the initial creators of smsf's.

I have a mix of studio apartments and shares and am relatively low risk. I am currently investigating the options of borrowing for property in the smsf..