For those unsure of whether an SMSF is right for them, the following checklist provides important considerations:
* These questions need to be answered for anyone thinking of commencing or joining an SMSF.
If the answer to any of these questions is no, an SMSF is unlikely to be suitable.
If all questions are answered yes, the next level is to drill down into the motivations that may make an SMSF a more effective choice for you than another superannuation fund type.
This might be based on your personal motivations or strategy advantages. It pays to seek professional advice to assist you with this decision-making process.