How Do I Set Up a Self Managed Super Fund

If you have heard about SMSFs but are still wondering “How do I set up a Self Managed Super Fund”, call us on (07) 3391 1188, or email to speak with an SMSF accountant from Taggart & Partners and receive expert advice on the creation, structure and continuing management of your self-managed superannuation fund. We make the process easy, compliant and designed with your risk investment profile in mind. So, how do you set up a self managed super fund?

How do I set up a SMSF?

Your SMSF (self-managed super fund), has to be correctly set-up in order to be eligible for tax concessions, to receive contribution and be as easy as possible to administer.

To set-up an SMSF you need to:

  • Consider appointing professionals to help you (Note: The decisions you make when starting-up your fund, can influence how and if we can help you later on, consider engaging with SMSF professionals such as Taggart & Partners from the start.)
  • Choose individual trustees or a corporate trustee
  • Appoint your trustees
  • Create the trust and trust deed
  • Check your fund is an Australian super fund
  • Register your fund and get an ABN
  • Set up a bank account
  • Get an electronic service address
  • Prepare an exit strategy

(Source: ATO)

It is important to get the right advice and consider your options relating to SMSF. Typically, SMSFs with balances of less than $500,000 do not perform as well after their expenses and tax are accounted for, when compared to funds regulated by APRA (Source: At Taggart & Partners, we can help you with setting up a Self-Managed Superannuation Fund (SMSF), Limited Recourse Borrowing Arrangements (LRBAs), Transition to Retirement Strategies (TRIS), general advice on SMSF product classes, concessional and non-concessional contribution strategies.

Call us today on (07) 3391 1188 to discuss your existing SMSF or, if you are still wondering “how do I set up a SMSF?”, to chat about whether setting up your own super fund is the right choice for your circumstances*.

*This information has been prepared without taking into account your objectives, financial situation or needs. Because of this, you should, before acting on this information, consider its appropriateness, having regard to your objectives, financial situation or needs.

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