FEAR & GREED | Business News Q+A: Think you can run an SMSF? Listen to this first.
Nov 5, 2025
In this engaging discussion, Kate Anderson, General Manager of NowInfinity, shares her expertise on managing self-managed superannuation funds (SMSFs). She outlines the crucial responsibilities trustees face, emphasizing their sole accountability for compliance. Kate demystifies the complexities of investment rules, including the sole purpose test and related-party acquisitions. She also advises that while DIY SMSFs are appealing, seeking professional guidance is essential given the intricate super and tax laws. A must-listen for future trustees!
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Trustees Bear Full Legal Responsibility
- Trustees are also the members in an SMSF and hold full legal responsibility for compliance and tax law.
- Kate Anderson stresses trustees must meet the sole purpose test and document investment decisions carefully.
Seek And Document Professional Advice
- Get financial advice to understand superannuation and tax obligations before setting up an SMSF.
- Kate Anderson advises members should educate themselves and document all fund decisions and strategies.
Host's DIY SMSF Experience
- Sean describes his personal experience running a DIY SMSF and finding it too hard after a few years.
- He used that experience to highlight why many people revert from self-management to other funds.