SMSF — What’s involved with an SMSF
Start with the broad obligations and what trustees are really taking on before deciding if an SMSF is suitable.
Watch videoSMSF · Setup Process
SMSF Setup Process & Criteria
$990setup fee
1–6Members
$100k–$200kSMSF starting balance is suggested
At a glance
Education firstTrustee education
External resources links out to ATO videos, ATO setup guidance and ASIC MoneySmart.
SMSF setup ProcessConsultation, online application, entity setup, rollovers and annual administration .
Setup Criteria
SMSF setup considerations
Three things SMSFs trustees/members should consider, before setup.
1
Starting balance guidance
At least $100,000 to $200,000 between 1 to 6 members .
2
Contributions and income
the fund will receive super contributions and income, which supports the viability of the structure.
3
Interest in managing SMSF
Trustees should take an active interest in investing and managing their super, because the responsibilities sit with the trustees.
Trustee Education
Education and external resources
Do your research, education and be an active participant in your SMSF
Free SMSF trustee education course
To get started, register for our free SMSF course before setup. This will help you understand the responsibilities, investment strategy basics and trustee obligations before proceeding.
Click to StartFurther reading and Guides
Click on these links to learn more.
ATO: Setting up an SMSF
Official ATO setup guidance covering trustee structure, deed, registration, bank account and investment strategy.
Open ATO guide
ASIC MoneySmart: Self-managed super funds
Independent consumer guidance on the risks, responsibilities and questions to ask before starting an SMSF.
Open MoneySmart guide
My SMSF Fee Schedule
View our fee schedule for conditions and additional fees.
View fee schedule
Why do I want an SMSF
Review the myths and realities around control, costs, flexibility and suitability before moving into setup.
Watch videoYou can’t do it all yourself
Explain the role of trustees, advisers, tax agents, auditors and other professionals in keeping the fund compliant.
Watch videoSetting up your SMSF
Step through the formal establishment tasks that sit behind trustee appointments, fund documents and registration.
Watch videoSMSF investment strategy
Understand the framework behind investment decisions, asset allocation, risk, liquidity and insurance considerations.
Watch videoSMSF annual obligations
Understand whats required, including record keeping, reporting and the yearly tax return process.
Watch video
Our Process
Complete the following steps to get started
Typical steps before an SMSF is setup.
1
Complete consultation and start online SMSF setup
Start with a consultation, then move into the online account and application flow.
- Discuss your needs by WhatsApp or contact form.
- Agree to proceed with the online SMSF setup application.
- Have your driver’s licence and Medicare card and personal TFN details ready.
- Create the fund name: Eg: S J Jones super fund and set up your online account password and phone verification.
2
Complete the online SMSF application
- Complete the My SMSF agreement, ATO declaration and investment strategy documents.
- Upload identification and confirm tax file number details.
- Pay the $990 corporate trustee company setup fee via our payment app
- Application processing then moves into company setup, fund, ABN/TFN, deed setup, bank account and rollover assistance.
3
SMSF entities established
- We setup up the company trustee and SMSF trust deed.
- Apply for the fund ABN and TFN with the ATO.
- Open the SMSF bank account for eligible package clients.
4
Rollovers and contributions
- Super rollovers are via superstream completed by you the client using MyGov.
- Investment accounts are set up by you the client using the issued SMSF documents.
- Employer contribution arrangements can be supported with choice-of-fund forms.
5
Tax time each year
- Watch the support video and complete the yearly checklist.
- Upload supporting documents through the portal.
- Tax work, signing, lodgment and audit report delivery follow after document review.
Our conditions
Our discounted $990 setup is offered on the condition that one year of administration is completed with My SMSF.
Discounted setup conditionThe setup fee is offered on the basis that at least one year of administration is completed.
Fallback feeIf this condition is not met, an additional fee becomes payable for the work done in setting up the fund.
Fee schedule Review our fee schedule so you can review additional regulator and change-related costs.
What you get
administration, online access and education.
SMSF administrationincluding Accounting and audit coordination, return lodgement.
Online accessPortal tools and digital document flow so trustees can manage their SMSF remotely.
Education supportOngoing videos, ebooks and trustee learning support
Next Step
Ready to move from research to setup?
Get started now on your SMSF setup journey.