Superannuation for small business owners

Discussion in 'Business Accounting, Tax & Legal' started by D.T., 27th Sep, 2016.

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  1. D.T.

    D.T. Specialist Property Manager Business Member

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    Reaching a point in our business where we (legally) should be contributing to our Supers.

    Don't have enough Super yet to justifying setting up a SMSF, but I think that'll be the longer term plan.

    In the mean time, what are other options here? I assume I could (re)start contributing to the Super i used to have, back in my days as an employee.

    Is Superstream compulsory? Where does the Small Business Superannuation Clearing House come in?
     
    D.T., 27th Sep, 2016
    #1
  2. Simon Hampel

    Simon Hampel Founder Staff Member

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    Just set up a personal superannuation fund until you've got enough to justify rolling over to an SMSF and roll over any other super funds you've got lying around - best to consolidate them all into a single fund.

    I haven't sorted out superstream yet - I know my accountant has that stuff all covered, but I'm not sure what I need to do from my end. Will have to check shortly.
     
    Simon Hampel, 27th Sep, 2016
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  3. hobo

    hobo Well-Known Member

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    Depending how soon you think you might want to move into an SMSF, and whether you are happy with your current super provider or not, that's the easy option.

    I have two supers, one which I'm leaving where it is for the time being and another smaller account in a fairly bog standard fund. I am looking at rolling the second one into a product which gives me a bit more control over where it's invested ie a wholesale fund.
     
    hobo, 27th Sep, 2016
    #3
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