Oct 09 2024 6 mins 1
Understanding a Going Concern in a SMSF! What It Really Means
A going concern in the context of self-managed super funds refers to the ability of the super fund to meet its financial obligations in the future.
Specifically, it assesses whether the fund has sufficient resources to continue operating and fulfilling its commitments, particularly in light of current economic conditions, such as rising interest rates and reduced contributions.
That's why, before going into one, you need to account for all the factors involved, especially the costs.
As in the event you decide to slow down on your working hours, this would mean that there will be less contributions being put in to the fund itself.
Speaking with your financial professional is key to really prepare and get the right knowledge revolving around self-managed super funds in order for you to be fully prepared should you decide to enter one.
To know the full details of why a going concern is important in self-managed super funds, click on this episode right now!
❓👇🏼Ask your questions using the link below: 👇🏼❓
https://whatschoolshouldhave.com.au/askanyquestion
Get in touch with Jeremy and his team:
Website:
www.khipartners.com.au
Email:
[email protected]
Disclaimer:
This podcast offers general financial information and advice and should not be considered as professional accounting, financial, tax, or legal advice. Listeners should seek personalized guidance from qualified professionals before making any financial decisions.
The opinions expressed by the host, guests, or callers are their own and do not necessarily represent those of the podcast, its sponsors, or affiliates. The podcast does not guarantee the accuracy or reliability of any information provided.
Listeners are responsible for their own financial decisions and should not rely solely on information from this podcast. Participation in the podcast does not establish a professional relationship, and information shared during calls is not confidential.
By listening to this podcast, viewers acknowledge and accept these terms. If you do not agree, please refrain from listening.
See omnystudio.com/listener for privacy information.
