Self Managed Super Funds
Specialist SMSF setup, compliance, and audit services. SMSFs are regulated by the ATO under superannuation law.
Self Managed Super Fund (SMSF) Services
A self-managed super fund (SMSF) is a private super fund you manage yourself, regulated by the Australian Taxation Office (ATO). SMSFs are different from mainstream funds regulated by APRA.
Key SMSF Requirements
- Maximum Members: Up to 4 members
- Trustee Structure: All members must be trustees (individual trustees) or directors of a corporate trustee
- Purpose: Must be established solely for providing retirement benefits to members
- Regulation: Regulated by the ATO (not APRA)
Setting Up an SMSF
- Decide on trustee structure (individual or corporate)
- Create a trust deed (legal document setting out rules)
- Appoint trustees and sign trustee declarations
- Open a bank account in the fund's name
- Apply for ABN and TFN
- Elect to be a complying fund (if new fund)
- Rollover existing super balances
Ongoing Compliance Obligations
- Arrange annual audit by an ATO-approved SMSF auditor
- Maintain proper records and minutes of investment decisions
- Prepare and lodge annual return with ATO
- Comply with investment restrictions (no personal use of fund assets)
- Meet the sole purpose test
- Keep fund assets separate from personal and employer assets
Is an SMSF Right for You?
An SMSF may be suitable if you have a super balance of $250,000+, want greater control over investments, and are willing to take on the compliance responsibilities. The ATO provides education resources to help you decide.
Source: ATO ??? Self-Managed Super Funds