Good point Terry - I have wished there was "superannuation" thread on SS for a long time. Its a massive industry with huge $$$ and 560,000 funds. And that's just SMSFs...Lets see if Sim can deliver on our wish list. Property for a SMSF is very different to that outside super.
I have been involved in super and strategies for a long long time. Employer funds, audit, industry funds, retail and SMSF. My view is that SMSF are less a structure and more a series of endless options for strategies. There isnt a "manual"'on this stuff. Its like buying a tailored suit. Much of which can be tweaked provided its given good guidance. Often with good hand holding too.
The difficulty in advising on SMSF strategy departs from the usual rules about legal advice. Its financial advice that requires a license, tax advice, accounting services, administration, property management, mortgage broking, asset protection, estate planning, insurances and more...All in one. And sometime with legal advice too.
SMSFs can be combined with other entities and can be very powerful. Then there can be merits in a SMSF to SAF strategy and even reasons to combine retail / industry with SMSF rather than just having 100% in a SMSF. Strategies such as exit strategies are important too....One strategy often overlooked for older members is the SMSF to industry fund strategy to access anti-detriment in some cases. Trust expertise is very important too.
SMSFs aren't for everyone. You cant put a $ minimum on these things but its fairly evident that under $100k is NOT viable on a cost basis. But cost may be just on part of the picture. A long term strategy may use that $100K and still be viable. That where the financial advice is important. SMSFs aren't for people who don't like rules. Or clients with hairbrained ideas....
How many times have I been asked about buying a holiday home that wont be a holiday home except when its used as a holiday home.