QSuper launches tax savvy SMSF alternative for hands-on investors

Monday, 1 September 2014

One of Australia’s largest superannuation funds has launched a new direct investment option with the potential to save hands-on investors thousands in tax savings.

In an industry leading move QSuper’s new Self Invest option comes with an attractive transfer option that could potentially result in capital gains tax savings when compared to alternative investment options.

QSuper CEO and 2013 Telstra Australian Business Woman of the Year, Rosemary Vilgan said QSuper wanted to support members’ desire to get involved with their super and QSuper Self Invest offered a range of benefits to members.

“We understand people want to be more hands on with their super and now they can be, with the backing of one of Australia’s most trusted funds,” Ms Vilgan said.

“QSuper Self Invest gives eligible members the flexibility to invest a portion of their super directly into a range of options including shares, term deposits and exchange traded funds.

“When it comes time to retire, QSuper Self Invest also offers the ability to transfer the underlying assets from an Accumulation account to an Income account, without incurring capital gains tax or brokerage fees.

“This is an industry-first and could potentially save members thousands and boost their income in retirement,” she said

Ms Vilgan highlighted the loss of hundreds of thousands of dollars that some Australians had experienced as a result of poor financial advice that led them to a self-managed super fund.

“We want to protect people from these types of devastating losses, so we’re offering them more control over managing their retirement savings within the security of an established fund,” she said.

Access to QSuper Self Invest is via QSuper’s Member Online service, providing members with easy, convenient and 24-7 access to their investments.

“QSuper Self Invest investors will also have exclusive access to up-to-date investment market research and data,” Ms Vilgan said.

“QSuper Self Invest offers people the best of both worlds, control over managing their investments with minimal paperwork and the option of returning to another QSuper investment option at any time.”

QSuper Self Invest completes a full suite of investment options available to QSuper members, from QSuper Lifetime as the default ‘set and forget option’, to the Ready Made options, Your Choice single asset investment options and Self Invest, QSuper now has a range of investment options to suit every type of investor.

“The addition of QSuper Self Invest is just another demonstration of QSuper’s commitment to continuous improvement to meet their needs of our members,” Ms Vilgan said.

QSuper has in excess of $50 billion in funds under management and over 530,000 members.