Frequently Asked Questions

Please find below frequently asked general questions. If you have any specific question or one that is not addressed below, please feel free to contact us

What is a Self Managed Super Fund?
What is the difference between an SMSF and retail/industry fund?
What is a member and can anyone become a member?
What is a trustee and what are their responsibilities?
How many trustees can an SMSF have and what are their types?
What is the 'sole purpose' test?
What kind of contributions can be made into the SMSF and who can make the contributions?
When can member acquire the benefits or access their super?
Who receives the benefit if a member dies?
Can the fund provide insurance?
Can an SMSF take out insurance on a cross-insurance basis?
How are SMSF's taxed?
What is a limited recourse borrowing arrangement (LRBA)?
Can any SMSF have Limited Recourse Borrowing Arrangement (LRBA)?
Is limited recourse borrowing right for your SMSF?
Can I transfer property into my SMSF using LRBA structure?
Can the SMSF use borrowed money via the LRBA to improve the property?
What is Pension and Re-contributing Strategy?
Can I transfer my personal assets into the super fund via an in-specie transfer?
What are the benefits of contribution splitting?
Am I able to operate a business within a SMSF?
What does Super Centric offer to their clients?
What is the fee structure for Super Centric?
How can I be sure of the quality of work from Super Centric?
Will my clients’ data be kept private?
What security measures do you have in place to protect my client data?