SMSF Setup

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.

All Trustees of an SMSF have a responsibility to ensure that their SMSF complies with ATO rules. Therefore, before you set up an SMSF, the ATO expects the same level of discipline from your personal tax affairs. If you have any personal tax returns or debt outstanding, the Tax Office may not issue an ABN or TFN required to set up the Fund. If you are associated with any outstanding tax return or debt, please do not proceed with this application.

In order for Superannuation Warehouse to set up your SMSF, simply complete the form below. As soon as we receive your application, we’ll phone you to confirm your details (so no problem if there’s a typo in the document) and start the setup process.

Applying Online

An SMSF name doesn’t have to be unique. A typical SMSF name might be “Smith Family Super Fund”. A Fund’s unique identifiers will be its ABN (Australian Business Number) and TFN (Tax File Number).

Some guidelines and regulations when setting up an SMSF are as follows:

  • An SMSF must be an indefinitely continuing Fund.
  • An SMSF’s sole purpose is to provide superannuation benefits to Members upon reaching a prescribed age or upon their retirement, death, or other cessation of employment.
  • From 1 January 2015, it is an ATO requirement that an SMSF must be activated and holds assets at the time of establishment. For this reason, the initial SMSF application fee that you pay to us when setting up the Fund will be treated as a personal contribution to the Fund to meet this ATO requirement.

Binding Death Benefit Nominations are optional. If you do make a nomination for death benefits, it will be added into the Trust Deed. A Binding Death Benefit Nomination could be something like this, “On the death of Member 1 the total benefit should go to my wife Suzie Smith”.

When setting up an SMSF, you can use an Individual Trustee or a Corporate Trustee structure. Click on a button below to instruct us to set up your SMSF.

When setting up a new SMSF, the ATO may review the setup process. It is their duty as Regulator of SMSFs to ensure Trustees understand their responsibilities and it was in fact the nominated Trustee who is setting up the Fund. If an ATO interview is conducted, it may take around 50 minutes conduct a phone interview (quite detailed).

When selecting Trustees for your SMSF, be mindful this process may occur. To prepare for this interview, Trustee can complete an online education course here:

SMSF Education Course

What Happens Next

We will receive an email confirmation once you have submitted this form. We will call you within 2 hours (during office hours) to confirm your details and set up the SMSF. Rest assured, we will not set up your SMSF until we speak to you.

Before setting up an SMSF please consider the following as this may impact your establishment times for your new SMSF.

Recently we have noticed that the ATO are taking an extremely large amount of time to complete their Initial Checks on New SMSFs. Generally this process takes between 2-56 business days. Click here for more information.

If your newly established SMSF has still not received a letter of compliance or an ATO Audit from the Tax Office, please notify our office and we will follow up on your behalf by lodging a formal complaint. Alternatively, you can contact the Tax Office on 13 10 20 to discuss any matters that may be delaying the SMSF establishment.

Delivery Policy

As mentioned above, an SMSF must hold assets when it is established. For this reason, payment must be paid at the time you submit your SMSF application to us. Our Delivery Policy is that Trustees pay for services rendered as per the fee schedule noted above after which we will deliver our services.

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