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Self Managed Super Fund establishment .
All documents provided in the deed pack will be completed electronically to ensure accurate processing of your information, and to allow your superannuation fund to be established within a short time frame.
We anticipate your self managed superannuation fund, once all necessary information has been provided to us,the deed will be sent to you for signing within 48 hours of your completed application.
Getting your self managed super fund up and running.
1.A quality SMSF deed- the first step.
The document package includes:
- Your trust deed
- a Product Disclosure Statement in plain language
- Consents for the trustees, or directors of the trustee
- Minutes to set up the fund and to set up the investment strategy
- Applications, beneficiary notices, and TFN notices for the members
2.Professional Investment Management and Strategy:What your fund can and can't invest in.
When you establish a SMSF through selfmanagedsuper.com you will receive a pro-forma investment strategy. As the trustee of your fund, you are required to document the investment objectives of the fund, and the plan to achieve those objectives.
This is called your investment strategy. We have found that the majority of advisors are unfamiliar with the requirements of a strategy, so to assist you in developing a strategy tailored to meet your specific requirements, we have drafted a template -
Your self managed superannuation fund package will include all the relevant documents required for you to register the fund with the ATO and apply for a tax file number (TFN) and an Australian Business Number (ABN).
There are a few situations where a SMSF should register for the GST, however, in the majority of instances it is not recommended. If your fund is going to register for the GST, the pack will also include the relevant forms required to register the fund, together with a summary of what the fund is entitled to once it is registered.
3.Establishing a Bank Account: this is the administration hub of your super fund.
Every self managed superannuation fund established by our service must have a bank account established through Macquarie Bank to assist in the timely and efficient administration of your self managed super fund. For all our clients we will be regsitered as the licence holder and administrator and we will be entitled to a trailing fee of 0.25% of the cash balance.
To make sure your fund is established correctly and in the fastest time possible, the selfmanagedsuper.com pack will include a comprehensive checklist to ensure each step of the process is completed. 4.Administration: Delegating the day to day running of your fund to us.
A simple administration package as follows:
- $550 per member
- $550 is deducted from your account on establishment and is deducted at each anniversary of your fund set up. The administration of your fund, including preparation of the financial reports and annual tax return is done for you. In addition to this, the investing can be done for you too! There is unlimited investment choice for you from shares, property, private investment vehicles and wholesale managed funds.The fee includes the administration and lodgement of your funds tax return, but excludes the annual ATO lodgement fees as well as any tax liabilities.
- A complete online portfolio management administration service is provided for all members for an additional fee. This will track and update all share and managed funds transactions so that you can view all your funds performance and tax position online.
As a Self Managed Super Institute client, you will also be referred to expert financial planning advice, tailored to meet the needs of your self and the other members within the fund. The financial planners sourced by us will give you specialist superannuation advice and assistance with your investment strategy. You can get advice on any aspect of your superannuation fund, whether you be in the accumulation phase or whether you are contemplating a retirement pension.
5.Binding Nominations:
If you elect for the Self managed super institute to administer your fund, a register will be maintained of any binding or non-binding death nominations to ensure they are kept up to date and re-done every three years, at a minimum.
Corporate trustees:
If you require a corporate trustee for your self managed superannuation fund,we can establish a company, with the name of your choice as part of the service.