Self Managed Super Funds

What is a Self Managed Super Fund?

A self managed super fund, or SMSF, is a super fund that you manage yourself. It allows you to make decisions regarding the investments you choose to acquire and dispose of. It also allows you to be more aware of how your retirement nest egg is faring.

Why would I want a SMSF?

When you invest in an institutional super fund, it is difficult to know what they are doing with your money. You might receive a report every quarter telling you how much money they have made for you, or often how much they have lost.

As you approach retirement, it is important to stay informed as to what your super entitlements will be, as it could impact on the decisions that you make.

How do I set up a Self Managed Super Fund?

It's not as simple as filling out a form and then purchasing some investments. The laws governing the superannuation industry are strict, so we need to look at all angles very carefully.

We can set up self managed super funds for you from as little as $990. For that fee you will get a consultation and tax plan from our registered tax agent partners, C&P Taxation Services; the settlement and a copy of the trust deed for each member; the setup of an ABN, TFN and all other regulatory requirements; and also we will help you arrange the transfer you super balances into your new self managed super fund.

What are the Ongoing Requirements and Costs?

From a compliance perspective, self managed super funds are very strict as to what you can and cannot do. You will need some guidance from time to time, and we're happy to give it to you. Our fees for preparation of annual accounts and tax returns; as well as telephone support and advice for trustees will generally cost you between $1,100 and $3,300 depending on how many different investments you have. We do not bill super funds based on their size, we bill based on time which is directly related to the complexity of the fund.

On top of our super fund fees, you will need to have the fund audited by an independent auditor. Because we are so thorough with our preparation of end of year work, an auditor should not cost you more than $500, and it can be often less.