If you have decided to set up an SMSF, Superannuation Warehouse can execute the SMSF (Self-Managed Superannuation Fund) setup at a cost of $150, using Individual Trustees. The standard SMSF setup is for two or more Individual Trustees (maximum 4). If Trustees want to use a Corporate Trustee, we charge $950 for the Pty Ltd Company setup. However most Funds are set up using Individual Trustees. For the advantages of using a Corporate Trustee, see the page explaining pros and cons of using a Corporate Trustee.
In order to instruct 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.
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 Individual Trustees or a Corporate Trustee. Click on a button below to instruct us to set up your SMSF.
What Happens Next
We will receive an email confirmation once you have submitted this form. We will call you within 4 hours (during office hours) to confirm your details and set up the SMSF. Rest assured we will not set up a Fund before we speak to you.
As mentioned above, an SMSF must hold assets when it is established thus, 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.