Simple setups to get started with the SMSF Experts

Setting up an SMSF

Superannuation Warehouse is a registered tax agent.

01

Open a Bank Account

After the ABN has been issued by the ATO, the Trustee can open a bank account.

02

Roll Existing Funds

Existing Superannuation balances in a Retail/Industy Fund can now be rolled over into the SMSF Bank Account once the Fund is listed as

03

Share Trading Account

You can choose any broker for share trading under the $89 per month option.

04

Direct Debit Set-Up

Superannuation Warehouse will allow around 6 weeks for your bank account to be funded or once

05

SMSF SETUP

If you have decided to set up an SMSF, Superannuation Warehouse can execute the SMSF

If you have decided to set up an SMSF, Superannuation Warehouse can execute the SMSF (Self-Managed Superannuation Fund) setup at a cost of $450 with an- Individual Trustee structure. The standard SMSF setup is for two or more Individual Trustees (maximum 6). If Trustees want to use a Corporate Trustee, we charge $1,400 for the Corporate Trustee structure setup. However most Funds are established using the Individual Trustee structure. For the advantages of using a Corporate Trustee, see the page explaining pros and cons of using a Corporate Trustee.

SMSF AUDIT

Superannuation Warehouse’s auditors are qualified and approved to carry out all auditing tasks

The Superannuation Warehouse website offers many templates. You can set up your own SMSF and complete your own financial accounts and tax return. However, your SMSF must be audited by an independent auditor – and this is where we can help.

The audit fees that we charge are based on the investments in an SMSF. This includes a discount on a well ordered Fund with complete supporting documents and work papers.

Permissible SMSF investments are relatively straightforward.

Many people dream of setting up an SMSF and filling it with exotic investments like artwork, classic cars and yachts. There are, however, certain rules as to the types of investments an SMSF can acquire. So, let’s take a look at what are deemed to be allowable SMSF investments.

Your SMSF must formulate an SMSF investment strategy rather than a business (trading) strategy, and any investment decisions must be in accordance with that investment strategy.

Superannuation Warehouse provides a full range of SMSF services from setup to annual compliance administration.

Annual Report
Tax
Supervisory Levy
Tax Rates and Returns

Frequently Asked Questions

There are many questions on Self Managed Superannuation Funds(SMSFs,) The best place to look is generally on the ATO Website. The ATO is the requlator of SMSFs,so it is the best to get is straight from the horse’s month.

Does the monthly $49 fee include ALL fees (including annual audit and submission of tax return)?

The $49 fee includes the fees for accounting, tax and audit functions if there’s cash investments only. Remember the SMSF will pay other fees like bank fee, the super levy charge and tax on contributions.

What is the difference between the $49 and the $89 service?

We charge a lower accounting and administration fee for a simple fund (with just bank accounts) than we do for a more complex fund that’s investing in property, share derivatives and FX.

I am starting an SMSF and would like to know the benefits of using a Corporate Trustee as opposed to Individual Trustees?

Most funds we set up are with individual trustees, and per the ATO statistics, around 80% of all funds have individual trustees. If you want to purchase property using a bank loan, the bank might be insistent on a Corporate Trustee structure, as this is their preference. We also discuss pros and cons of using a corporate trustee structure on this page. However, this is your choice who to use as a Trustee.

Do you require all original docs? Many of these are now provided by e-commerce or over the web, is that an issue?

Most funds we set up are with individual trustees, and per the ATO statistics, around 80% of all funds have individual trustees. If you want to purchase property using a bank loan, the bank might be insistent on a Corporate Trustee structure, as this is their preference. We also discuss pros and cons of using a corporate trustee structure on this page. However, this is your choice who to use as a Trustee.

Do you require all original docs? Many of these are now provided by e-commerce or over the web, is that an issue?

You keep all the original documents. We prefer to receive statements as soft copy so that we can load them directly into our accounting system to produce your SMSF’s annual accounts and tax return. This also improves accuracy because we don’t have to re-key your data.

Are the originals retained at your office or returned once the accounts are completed?

We have a paper copy and a soft copy of your accounts at our office. All source documents, e.g. bank statements etc. would be kept by you as a Trustee of the SMSF. We require copies only, and the best option is a soft copy or scanned copy emailed to us.

Our Resources

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