The Australian Securities and Investments Commission (ASIC) should withdraw its Self-Managed Superannuation Fund (SMSF) factsheet because it contains “an array of seemingly deliberate inaccuracies”, according to economist, David French of the Investment Collective.
According to French, he has identified four glaring inaccuracies “so blatant that that the factsheet could only be described as misleading and deceptive”.
He said those inaccuracies included ASIC’s claim that the average cost of running an SMSF was $13,900 per annum and that it takes more than 100 hours per annum to run an SMSF.
By Mike Taylor
21 October 2019