Self managed super fund

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.
Hi Geoff!

A SMSF cannot pay a fee to a member or related party at all for the management of your money. This is so regardless of whether the fund makes a profit or loss.

This law is to stop people from effectively accessing their superannuation through the back door before they are indeed entitled to their money.

Sorry mate.