Malik Bilal Majeed, Managing Director of Pacific Tax & Accountancy, led a successful workshop on Wednesday 30 October on Self-Managed Super Funds (SMSFs), educating Australians on how to gain control over their superannuation in alignment with ethical and Sharia-compliant investment options.
The event held at YIA Learning Club was well-attended by community members and professionals was a thoughtfully organised setting that promoted engagement and offered participants a practical approach to understanding SMSFs.
The workshop began with an introduction to SMSFs and the unique advantages they offer, including the option to manage investments that align with personal values.
Majeed provided a clear comparison between SMSFs and industry super funds, noting that SMSFs give individuals direct control over their investments, a feature highly beneficial for those interested in ethical and faith-aligned investing.
Participants engaged with the material by filling out initial Google Forms with their current Super balances, allowing Majeed to tailor his guidance to each attendee’s unique financial position.
Throughout the day, Majeed explained key topics, including SMSF setup costs, ongoing management, and the importance of accounting, taxation, and audit requirements.
Participants explored SMSF options in detail, learning how corporate trustees and financial advisors can support effective SMSF management.
Additionally, the comparison of SMSF yields against typical super fund performance revealed the potential for higher returns when managing funds independently, especially with personalised asset selection.
A highlight of the workshop was the discussion of various SMSF investment options, such as property, shares, term deposits, and more recently, cryptocurrency and gold. Attendees used a workbook to design a sample portfolio, enabling them to understand how SMSFs can help achieve their financial goals while adhering to Islamic investment principles.
Interactive elements like a Kahoot quiz and lucky draw brought a light-hearted element to the day, keeping the audience engaged and creating a community atmosphere.
To support ongoing learning and connection, Majeed shared QR codes to join relevant social media groups, including Young Innovators Australia and PakOZ, where participants could access resources and updates on future sessions.
The event concluded with a group photo, symbolising the unity and shared purpose of the attendees.
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