The Self-Managed Super Fund (SMSF) Workshop led by Malik Bilal Majeed, Managing Director of Pacific Tax & Accountancy, was a highly informative and hands-on event for Australians interested in gaining control over their Superannuation. Hosted in a professional setting, the workshop offered participants the tools and resources to understand SMSF fundamentals, assess suitability, and explore the investment opportunities and benefits associated with SMSFs.
The room was thoughtfully arranged to enhance the learning experience. Each participant received a name badge and workbook with pens, which served as essential tools for calculating costs, jotting down insights, and completing interactive tasks. The workshop included a dynamic slideshow, guiding attendees through each topic, with tea and refreshments available to keep everyone energised.
Content Overview
The workshop kicked off with an introduction to Superfund basics and SMSF’s distinct benefits. Attendees learned how SMSFs differ from traditional super funds and how they enable individuals to manage investments more personally and, in many cases, ethically. Participants began by entering their current Super balances into a Google Form, which helped Malik Majeed personalise his guidance to suit each attendee’s situation.
Key discussions centred on understanding the costs associated with SMSFs, with a clear breakdown of formation and ongoing costs such as accounting, taxation, audit fees, and the SMSF supervisory levy. For those interested in additional support, Malik provided insights into the roles of corporate trustees and financial advisors, helping attendees weigh the value of professional assistance.
SMSF vs. Industry Super Funds
One of the workshop’s highlights was the in-depth comparison between SMSFs and industry super funds. Malik illustrated how SMSFs often provide more control over investment choices, including options for Sharia-compliant or ethical investments. In a practical exercise, participants calculated potential financial returns, comparing SMSF yields with typical industry fund performance. This hands-on approach clarified the financial advantages and investor control that SMSFs can offer.
Exploring Investment Options
The workshop delved into the variety of investment options available within SMSFs, from property and shares to cash, term deposits, managed funds, cryptocurrencies, and gold. Using the workbook, attendees were encouraged to create a sample portfolio based on their interests. This part of the session highlighted how SMSFs can align with individual goals, especially when ethical and personalised investment is a priority.
Interactive Elements
Interactive activities, such as a Kahoot quiz and a lucky draw, added an element of fun to the day’s learning. These segments encouraged participants to engage more actively and provided an opportunity to test their knowledge of SMSFs. The workbook exercises further supported learning, helping attendees evaluate SMSF suitability, track financial benefits, and build sample portfolios.
Social Media & Networking
To keep the momentum going, QR codes for various social media and networking links were provided. Participants could connect on platforms like Young Innovators Australia’s YouTube and Facebook, as well as PakOZ’s YouTube and Facebook. The session’s WhatsApp group link was also shared for future SMSF events and continued support.
Conclusion
The day concluded with a group photo to celebrate the learning and connections made throughout the event. Participants left with enriched knowledge, practical workbooks, and a network of like-minded individuals eager to explore the world of SMSFs further.
