tag:blogger.com,1999:blog-60510622011-04-22T05:25:57.814+10:00Self Managed Superannuation Funds seem to be all the rage in Australia with more than 100 coming into being each day (according to the Association of Superannuation Funds Australia). With the lousy performance of our super money and the level of fees they charge us to destroy value, Caroline and I are ready to jump on board too! This blog is an ongoing record of our research and thinking about SMSFs or DIY Funds as they are also known. Please feel free to read and link to this site.Warrenhttp://www.blogger.com/profile/15980463719782533046noreply@blogger.comBlogger161100tag:blogger.com,1999:blog-6051062.post-45162889862435008022008-10-31T16:22:00.002+11:002008-10-31T16:29:48.509+11:00

Unfortunately, and as predicted last year, we had a lousy return of -17.3% for 2008. Whilst not unexpected and probably reasonable given the carnage on the share market, it is nonetheless disappointing. However, we have no intention of following the herd and selling out given that we feel the companies we are invested in are good quality and their performance will reflect that in the longer

Wazzanoreply@blogger.comtag:blogger.com,1999:blog-6051062.post-18074425259523982862008-06-26T10:10:00.003+10:002008-06-26T10:33:31.405+10:00

In typical fashion I have neglected to post information to this blog until way after the event. In that vein, the Bainsworld Superannuation Fund produced an investment earnings rate for 2007 of 42.7%, a huge improvement on 2006 as we predicted it would be. Some of our investments didn't do so well the previous year and so when the market supercharged, they grew much faster than you might

Wazzanoreply@blogger.comtag:blogger.com,1999:blog-6051062.post-82575359223814266372007-05-27T07:44:00.000+10:002007-05-27T07:56:49.722+10:00

I just noticed that I forgot to post last year's results for the Bainsworld Superannuation Fund. Our investment earnings rate for 2006 was 11.7% which seems a little low given the way the Australian market has been performing of late. Still we think that 2007 will be an improvement on this.Holdings include shares in:AlintaARB CorporationBlueScope SteelConnectEast GroupJF Meridian TrustNational

Wazzanoreply@blogger.comtag:blogger.com,1999:blog-6051062.post-1131513686353892182005-11-09T16:11:00.000+11:002007-05-27T07:57:30.232+10:00

We have just completed our accounts for 2005 and I'm happy to report that the Bainsworld Superannuation Fund returned 17.5% to its members after tax and all expenses for the last year. Not too shabby given that today's Australian Financial Review Quarterly Review of Funds liftout lists the performance of the Top 20 super funds ranges from 10.7% to 13.9%. Its steady as she goes for now although we

Wazzanoreply@blogger.comtag:blogger.com,1999:blog-6051062.post-1100674906459582982004-11-17T18:01:00.000+11:002007-05-27T07:58:17.114+10:00

BGL Corporate Solutions Pty. Ltd. This is the developer of Simple Fund, the software we use to administer our SMSF. It is a bit more high-powered than we need as it is designed for accountants to manage multiple funds on behalf of their clients including doing audits and submitting tax returns. However, once I got my head around debit/credit (it is not as user friendly as say, MYOB) when entering

Wazzanoreply@blogger.comtag:blogger.com,1999:blog-6051062.post-1073280056351014942004-01-05T16:20:00.000+11:002007-05-27T07:59:04.260+10:00

(ROCS) - Register of Complying Super Funds This contradicts one of my earlier postings - there actually is a register of superfund names and this is it! So you can come up with a unique name but there is no guarantee that it will remain so.

Wazzanoreply@blogger.comtag:blogger.com,1999:blog-6051062.post-1068294098330079012003-11-23T07:08:00.000+11:002007-05-27T08:00:01.442+10:00

Self Managed Superannuation These guys recommended to me by a friend as an inexpensive way of creating an SMSF - only $473 plus stamp duty! My accountant uses a different company which is cheaper but ends up being $700 after he does his bit as well. I guess if you feel you know enough about your needs to brief someone yourself you use one of these companies (and there are lots and lots of them)

Wazzanoreply@blogger.comtag:blogger.com,1999:blog-6051062.post-1068692139306270372003-11-23T06:46:00.000+11:002007-05-27T08:00:29.929+10:00

SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 If you really want to dive into the deep end, here is the dreaded SISA!

Wazzanoreply@blogger.comtag:blogger.com,1999:blog-6051062.post-1068692205139277192003-11-23T06:05:00.000+11:002007-05-27T08:00:52.243+10:00

ASFA - Small/DIY funds - Menu The Association of Superannuation Funds of Australia Limited has advice for Trustees and a pretty good summary of the issues of running your own fund. Check it to see if it is really your style before taking the plunge. Also has some stats about small and DIY funds collected by APRA in January 2003: 246,000 small funds 430,000 members or average 1.75 per fund $99

Wazzanoreply@blogger.comtag:blogger.com,1999:blog-6051062.post-1069375479720556922003-11-21T23:44:00.000+11:002007-05-27T08:01:13.503+10:00

Taxpayers Australia Superannuation Australia is a subsidiary of Taxpayers Australia and is headed up by Barbara Smith, a prolific superannuation author. They produce a DIY Super Manual (how to do it) and Update service (alert you to how changes in SISA will affect your fund) and some other tools. They are an agent for the Simple Fund software from BGL as well. You can also purchase a Trust

Wazzanoreply@blogger.comtag:blogger.com,1999:blog-6051062.post-1069376206968090302003-11-21T11:56:00.000+11:002007-05-27T08:01:36.889+10:00

Castle Corporate Services This is the company used by Taxpayers Australia to create Trust Deeds for an SMSF. There are obviously many different companies doing this. My conclusion from looking at quite a few of these is that you go with the one that your adviser recommends even if that costs a little more. If you incorrectly instruct the organisation drawing up the Trust Deed you can only

Wazzanoreply@blogger.comtag:blogger.com,1999:blog-6051062.post-1068768080885861642003-11-14T11:01:00.000+11:002007-05-27T08:03:20.352+10:00

LawCentral Online Australian Legal Doc Shop Trusts, Wills, Corporate Documents, SMSFs If you wondered whether there are any limitations on the name of your superfund, this document from Law Central answers this and other questions. In summary:you can use any name you likeit doesn't have to be uniquethere is no central register of names you can check anywayWe'll probably call ours "Bainsworld

Wazzanoreply@blogger.comtag:blogger.com,1999:blog-6051062.post-1068703461186405442003-11-13T17:04:00.000+11:002007-05-27T08:03:49.150+10:00

Cleardocs Australian Online Legal Documents The more you look the more of these you find. If you want to do all the legwork yourself and just need the legal documents to create a company or trust then this company is very inexpensive. Creating a Superannuation Trust only costs $137.50 but you'd better know what you are doing!

Wazzanoreply@blogger.comtag:blogger.com,1999:blog-6051062.post-1068701176874682092003-11-13T16:26:00.000+11:002007-05-27T08:04:11.724+10:00

Corporate Network Ltd This is the company that my accountant uses to set up companies (that's how Thought Croft was created), trusts and super funds for his clients. They charge $325 for an SMSF set-up so given my accountant charges about $700 all up his services come to about $375 for basically filling out the forms and ensuring the correct filings are made to the ATO. Looks like CNL is

Wazzanoreply@blogger.comtag:blogger.com,1999:blog-6051062.post-1068373926487248602003-11-09T21:32:00.000+11:002007-05-27T08:04:38.326+10:00

I've been consuming books like crazy to get ourselves ready for managing our super (and as a consequence of starting an Investment Partnership in late 2001 with Caroline and 13 other people now down to 12 in total). These include:Do It Yourself Superannuation by Austin Donnelly and Barbara Smith (4th Edition)Guide To Self Managed Super Funds by Grant AbbottThe Intelligent Investor by Benjamin

Wazzanoreply@blogger.comtag:blogger.com,1999:blog-6051062.post-1068292163168337382003-11-08T22:49:00.000+11:002007-05-27T08:05:19.487+10:00

After watching the performance of our personal superannuation and testing our investing know-how through an Investment Partnership with 10 other friends, Caroline and I are about to press the button on starting an SMSF - a Self Managed Superannuation Fund. We think the benefits of making our own investment decisions will be enormous. For a start, the fees will be a LOT lower and that alone will

Wazzanoreply@blogger.com