This is not really property related. But it may be of interest to some.
If I have a Self managed Super Fund (SMSF), can I claim any "management fee" for running the fund? If not a flat fee, what about one based on success?
Like many, I've had a fund which has performed not very well. But the administrators have still taken their fee.
So if I run a fund, am I entitled to claim anything for time and effort to run the fund (as the managers do on my fund)?
I've been told it's illegal for me to claim back anything.
That sounds to me to be extremely unfair- especially if my SMSF makes a profit when the other funds which charge a fee do not.
If I have a Self managed Super Fund (SMSF), can I claim any "management fee" for running the fund? If not a flat fee, what about one based on success?
Like many, I've had a fund which has performed not very well. But the administrators have still taken their fee.
So if I run a fund, am I entitled to claim anything for time and effort to run the fund (as the managers do on my fund)?
I've been told it's illegal for me to claim back anything.
That sounds to me to be extremely unfair- especially if my SMSF makes a profit when the other funds which charge a fee do not.