Existing SMSF Take On

If you have an existing SMSF and you want to move it over to Superannuation Warehouse, follow the steps below. We can seamlessly take over the administration, accounting and taxation functions of your existing SMSF.

The steps to transferring a Fund over to Superannuation Warehouse are as follows:

  1. You send us an email instruction asking us to take over your existing SMSF. Include the name of your SMSF, the Tax File Number and the name of the Fund’s existing accountant or administrator.
  2. Superannuation Warehouse will contact the current accountant or administrator and will request your SMSF files and records to be transferred to us with an ethical letter.
  3. We review your file for completeness, ensuring all lodgements are up to date.
  4. We appoint Superannuation Warehouse as your Fund’s Tax Agent.

Your obligation: to supply us with all your Fund’s records in Excel, or similar, electronic file format. This can also be scanned copies of bank statements. Our preference is to import all your SMSF transactions electronically and perform an effective and efficient service. Items not available in Excel can be scanned and emailed, or posted to us via snail mail.

We strive to keep things as paperless as possible; nevertheless, rest assured, we always keep a hard copy (paper) file containing a summary of your SMSF.

Note that we charge a one-off fee of $475 for an SMSF take-on. This includes the cost of obtaining your Fund records. If any previous years’ accounts, tax returns and audits are outstanding, we will charge $950 for each year that needs to be completed.

Once your SMSF has been transferred to Superannuation Warehouse you can choose between our $39 or $79 plans. These are monthly fixed fees, irrespective of the number of transactions in the SMSF. We will send you a direct debit form to complete so that the monthly fee can be deducted directly from your SMSF bank account.

The monthly fee includes the costs of the accounting, tax and audit. We will appoint an independent auditor to take care of your SMSF. Your SMSF is charged nothing for the auditor as this service is covered by your fixed monthly fee.

For more info about how we do the take-on process, please watch the video below.

An alternative way to transfer your SMSF to Superannuation Warehouse is simply to phone or email us.

Please contact us today!

Questions & Answers – click on the question to reveal the answer

Q: How much will it cost me if Superannuation Warehouse takes over my SMSF in November?

Apart from the take-on fee ($475) we charge $950 to complete accounts and tax returns from previous years (not all SMSFs have an administrator as diligent as Superannuation Warehouse, you know…). We then charge monthly from 31 July onwards, $39 or $79, depending on the plan you choose. So if we take over an SMSF in November we will charge for 4 months initially and then regularly from November onwards. We will ensure that your SMSF accounts and tax are completed on a timely basis. This is all taken care of with a debit order, so it will be deducted from your bank account on a monthly basis.

Q: Is there a minimum amount of time (e.g. 12 or 24 months) that must be committed to using Superannuation Warehouse’s administration services?

With Superannuation Warehouse, you are not committed to a minimum time, and there’s no penalty fee if you want to move your Fund to another accountant/administrator. We pride ourselves on providing an excellent service at a fair price and we are confident that you will remain with us as a client. However, if you should decide to use another provider, no worries, we have all the updated soft and hard copies of your files ready to hand over directly to your new accountant.

Q: What does the take-on fee cover?

We’ll contact your previous accountants with an ethical letter advising them of our appointment for your SMSF. We’ll appoint ourselves with the Tax Office as the Tax Agent of your SMSF. Note that we always leave your address on the ATO records so you receive all paper correspondence from the Tax Office. If we don’t receive a copy of the Trust Deed, previous accounts and audit report and tax return from your previous accountant, we’ll ask you for a copy.

Q: What documents should I send to Superannuation Warehouse?

We need the following 5 documents :

  1. Trust Deed
  2. Minutes of Meetings
  3. Investment Strategy
  4. Trustee Declaration
  5. Consent to act as Trustee and Member Application

We’ll contact your previous accountant and request copies of these documents. If they don’t have them, we’ll ask you for copies. If you don’t have them either, you can download copies, sign them and send copies to us. We prefer scanned copies but, if it’s more convenient for you, you can post them to us. Free downloads of these documents and other useful SMSF documentation is available from the DOWNLOADS page. If you send us a paper copy, we will scan it, save it on our system, and post the paper copy back to you.

  • Ron Mudie

    I am thinking of moving from another superfund company to superannuation warehouse is it better to transfer at the end of the financial year. I have had my own superfund for a number of years but the company I am with limits me to where I have to bank and invest they obviously get a cut from my trades and working account which is quite a substantial amount of money, the interest rate I am getting on my working account is only 1 percent

    Ron

    • superannuationwarehouse

      Just answered

      Regards Hein Preller Director – Superannuation Warehouse 03 86106999 (Office) 04 11241215 (Mobile) smsfwarehouse.com.au

  • superannuationwarehouse

    Ron,

    We can take on the administration of your Fund at any time of the year. Just make sure the existing accountant is not in the process of preparing Financial Statements and the Tax Return.

    We would not want to take on the Fund if the existing accountant is in process of preparing account. Best is either for us to do it from the start or let them complete the process.

    As we are a registered Tax Agent, your Fund has until 15 May to lodge the 30 June accounts. The there’s ample time after year end to complete the process.

    Thanks for your question.

    Hein

  • Michael Jeffrey

    HI,
    I currently have a SMSF which is managed by an accountant, who charges around the $1375 inc GST to complete the auditing and annual tax return. I set it up to purchase an investment property. Could you please advise what monthly package would suit me best if I transferred over to superannuation warehouse?

    • superannuationwarehouse

      Michael,
      If you have property in your SMSF, the fees we charge is $79 per month, or if you prefer to pay annually it is 12 x $79 = $950.
      In the interim, if there’s cask only in the Fund the accounting is easier with interest only, hence the lower fee of $39. The options are explained here:
      http://www.smsfwarehouse.com.au/smsf-setup/smsf-packages/

      Trust this answers your question.

  • Gary

    Hello.

    I’ve been looking at online SMSF that provide software/online data entry by a trustee. The aim being to minimise administration costs. Is this an option available through SW?

    Tax returns for FY 2105 and now FY2106 are to be completed. Obviously, not a good position to be in.

    We have a fund (2 trustees) generating only a modest income which in recent years has seen much of that income eroded by accounting/audit fees.This is not sustainable. I’d say it is quite straightforward, not complicated at all.

    I am looking at a cost effective, timely way to manage the fund. The service you provide appears to be a solution to this situation.

    We hold a small shares – local & o/s, various managed funds, some non share assets EG: art.

    Can you assist? What would you suggest? Where do I start?

    Cheers

    Gary

  • Chris Bastin

    Hi there, I have an existing SMSF. Do you take on existing SMSFs? If so, can I post documents to you or must they be provided electronically? Many thanks

    • superannuationwarehouse

      Chris,
      You can send us the documents of your SMSF any way you prefer. Generally a scanned copy works best. If you want to mail it over, we will review and scan all documents here in our office. We will then return the originals to you.
      We will also review completeness of documents and re-issue any missing information.
      Thanks
      Hein

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Peace Of Mind

We are Melbourne based with clients throughout Australia. Our SMSF administration service is mostly paperless. This enable us to charge a fair fee, resulting in a good value-proposition for you.

No Advice

Superannuation Warehouse is an accounting firm and do not provide financial advice. All information provided has been prepared without taking into account any of the Trustees’ objectives, financial situation or needs. Because of that, Trustees are advised to consider their own circumstances before engaging our services.

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