It is of interest that we have seen many Media Reports about how Superannuation is a bad thing, I beg to differ.
Superannuation is a great investment tool along with a tax effective tool.
Self Managed Superannuation Funds are similar to companies and trusts, it is merely a structure, it is not a form of investment. Therefore the importance is to get the investments within the actual Superannuation Fund correct.
MYTH
The media unfortunately believe that all superannuation is in shares. The reason for this belief is a result of their superannuation being in industry or retail funds.
TRUTH
Business Owners however normally have their superannuation in Self Managed Superannuation Funds. Self Managed Superannuation Funds have the flexibility to acquire Residential and Commercial Buildings, Shares, Term Deposits, Unit Trusts to name a few.
Self Managed Superannuation Funds also allow for Instalment Warrant loans for acquisition of assets.
These funds also allow for the ability to own Life Insurance Policies.
Therefore you need to consult your business advisor on how superannuation can help you grow your business and retirement goals, the taxation benefits are too great to not consider.
Wayne Patten