SMSF ESTABLISHMENT PROCESS

setup criteria

To setup a SMSF with My SMSF you will need to have the following:

  • Have a $150,000 between 1-4 members
  • Receive super contributions and has income over $120,000 p.a
  • Take an interest in investing and managing your super

We suggest you complete a new SMSF member course. The SMSF Association has created a FREE course for new SMSF Members. Complete this to get started

Click Herehttps://smsf.mygo1.com/p/?anchor=/access/signin#/access/signin

You can choose from one of three packages to suit your SMSF management needs. We have tailored our packages to reflect the level of investment complexity and risk in your fund, which determines the work required and therefore your price.

OUR PROCESS

Complete the following steps
to get started:

STEP 1 : Complete Consultation and start Online SMSF Setup
  • Contact us for a FREE phone or Skype consultation to discuss your needs
  • Agree to go ahead and start your online SMSF setup application
    – You will need your driver’s license + Medicare card details handy
    – Have your current super fund account number and details available
    – You will setup your online account, by choosing a password and by verifying your phone number
STEP 2 : You will receive an email with all forms
  • It contains a check list with steps and all the necessary documents attached
  • Complete your Setup Fact Finder
  • Advice is provided to you / Sign Authority
  • Sign our Advice Authority & SMSF Setup Agreement
  • Make payment of $799 your corporate Trustee Company + $330 Advice Fee you can use a credit card or use Poli pay via our Dashboard
STEP 3 : SMSF Entities Established
  • We will setup your company trustee and SMSF Trust Deed
  • Apply for an ABN/TFN with the ATO
  • Open your SMSF Bank Account
STEP 4 : Rollovers and Contributions
  • We will only attend to your retail and industry super fund rollovers
  • We will bank all cheques into your account
  • We assist you with employer contribution arrangements ( choice of fund form)
STEP 5 : Accounting Time
  • Watch our video and complete your fund checklist
  • Upload your supporting documents
  • a) We complete your work b) you sign tax documents and pay your tax c) we lodge your return and provide you with your audit report

OUR CONDITIONS

We offer a discounted setup for your SMSF ( $799 fee) provided that you complete one (1) year’s administration with us. If you fail to do this, a fee of $1,550 is payable for the time spent setting up your fund. View our fee schedule and terms for more details on associated fees for small changes to your fund and fees paid to regulators such as the ATO and ASIC.

WHAT YOU GET

To setup a SMSF with My SMSF you will need to have the following:

  • SMSF ADMIN  –  Accounting & Auditing $1,100
  • SMSF ONLINE ACCESS  – Includes a variety of services and tools
  • SMSF EDUCATION  –  Videos and Ebooks on SMSF investing and management completed by our panel of accountants and auditors

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