Set up a Self Managed
Superannuation Fund
ONLINE LEGAL DOCUMENT PROVIDER SINCE 2010
Important information
The ATO is currently auditing about 80% of new SMSFs. This audit process will significantly slow down the issuing of the TFN and the registering of the fund. If your fund is chosen for audit please comply with their requests.
SMSFs are the fastest-growing sector of the superannuation industry. There is now more money stored in SMSFs than in all of the Australian industry funds combined.
A self managed superannuation fund is a form of trust fund. As such, it must have a trust deed which sets out the rules under which the fund will operate. It is possible to have a single member fund. If you have a corporate trustee for a single member fund, the member needs to be one of the following:
- the sole director of the trustee company
- one of only two directors and either related to the other director, or not an employee of the other director.
- You can also have two individuals as trustees. One trustee will need to be a member and the other needs to be either related to the
member or any other person that does not employ them.
For more information on SMSF's, see the video guides at the bottom of this page.
What you receive
- The Trust Deed;
- Checklist for establishing the fund;
- Trustees
- Register of Trustees;
- Employer's application to contribute to the fund;
- Minutes of a meeting of the trustees of the fund to establish the fund;
- A form for each trustee consenting to act in that capacity.
- Members
- Register of Members;
- Application to become a member of the fund for each member;
- An acceptance of the application to become a member of the fund for each member;
- A nomination of beneficiary form for each member of the fund;
- A Notice to New Members;
- Investment Strategy
- Minutes of a meeting to adopt the investment strategy of the Fund;
- Blank space in which to write the investment strategy;
- Sample investment strategy ;
- Trustee declaration and tax file number declaration form;
- ABN/TFN application form;
- Certificate of compliance.
