A self-managed super fund (SMSF) is a private super fund that you manage yourself. SMSFs are different to industry and retail super funds.
When you manage your own super, you put the money you would normally put in a retail or industry super fund into your own SMSF. You choose the investments and the insurance.
Your SMSF can have no more than six members. As a member, you are a trustee of the fund — or you can get a corporate trustee. In either case, you are responsible for the fund.
SET UP
Our business partner XO Accounting which is part of the XO Group can assist you with setting up your SMSF.
The cost of this service is $1760 Inc GST. This includes the following:
1
Setting up a Pty Ltd company to act as Trustee for the fund.
2
Registering the SMSF with the ATO which includes.
An Australian Business Number (ABN)
An Australian Tax File Number (TFN)
Application to be come a Complying Superannuation Fund
3
All documents required such as Trust Deeds, ASIC Incorporation as well as Member and Director Consents.
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