Commercially focused SMSFs numbers could grow
There are several changes in the wind that could ensure the continuing growth of self-managed super and accelerate consideration of estate planning themes involving an SMSF.
While the increase might extend the benefits of a family SMSF to larger families, they may also be used to aggregate investors in order to fund projects to build wealth.
A 6-person SMSF could lead to more commercially focused funds designed not for a single family but rather to bind together people who want to carry out a commercial joint venture and whose concessional contributions can then amount to $150,000 per year.
This trend may be inspiring younger people to be interested in self-managed. The ATO’s stats for the March quarter this year show that 33.1% of new funds were for members aged 35-44.
Townsends Business & Corporate Lawyers
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