SMSF Online Setup
SMSF Setup & Administration Made Easy
Backed by more than 10 years’ SMSF administration experience, iCare Super can give you peace of mind knowing you’re meeting the compliance requirements for your SMSF. We offer everything you need for setting up a SMSF online as well as providing other SMSF services that are affordable, trustworthy and prompt.
Trustworthy SMSF Setup
iCare Super has been setting up SMSFs since 2012, with thousands of SMSFs set up since. We are one of the most reputable SMSF establishment service providers in Australia. You can see our clients’ valuable feedback for our SMSF setup services by reading our Testimonials, Product reviews and Google reviews.
Full Range of SMSF Services
We can take care of everything required for setting up an SMSF and managing it, including compliance work, record keeping, consulting, reporting, auditing, and any relative administration. No matter what you need for your SMSF, we can provide you with a complete solution.
Easy Process
SMSF establishment is easy with iCare Super. We have a dedicated team that specialises in setting up all types of SMSFs and relative structures, whether it be an SMSF with individual trustees, an SMSF with a corporate trustee, a QROPs SMSF setup, a company setup, or a bare trust with a corporate trustee or individual trustees.
Once we’ve received your application form for setting up a self-managed super fund, we’ll deliver all the necessary legal documents and TFN/ABN for your SMSF within a few hours.
No Restrictions
At iCare Super, we don’t place any restrictions on investments, broker accounts or bank accounts. This allows you to choose any trading platforms, bank accounts or investments allowed by superannuation laws.
Prompt SMSF Setup Support
If you have any questions in regards to your SMSF setup or if you experience any difficulties when filling out our online SMSF setup form, you can contact our support team by phone, email or online chat. You can also come to our office for a face-face meeting. Your questions will be answered straight away by our SMSF specialists.
Unlike other low-cost SMSF providers who don’t have a physical address or even a phone number, we pride ourselves on having a professional office with over a dozen staff who are ready to provide the support you need for your self-managed super fund set up.
Some clients may prefer to meet us before setting up their SMSFs. We can arrange a meeting with you at our Melbourne office to discuss all of your SMSF setup concerns and questions.
Affordable SMSF Solutions
iCare Super is a low-cost and truly independent SMSF service provider. Our costs are extremely competitive for SMSF administration. If you can find another SMSF service provider’s lower price on the same service, we’ll match that price and provide a further 10% discount.
Our Pricing
There are many SMSF service providers that offer SMSF establishment costs ranging from $330 up to $4,400. It’s important to choose an SMSF setup service provider with transparent fees and the cheapest SMSF setup costs.
iCare Super is one of only a handful of SMSF services providers that can offer free SMSF setup for SMSFs with individual trustees or a corporate trustee. Our cost for setting up SMSF with a corporate trustee is only $880, which is one of the most competitive prices in Australia.
Our ongoing annual running costs for your SMSF are also among the lowest on the market. We additionally offer transparent and fixed service fees, ensuring you won’t receive any surprise bills from us.
Quality Setup Documents
Our SMSF setup documents include the trust deed, investment strategy template, consent to act as trustee, member application forms, binding death nomination forms, ATO trustee declaration forms and other compulsory documents.
Our setup documents can allow you to invest in any type of investment and are also widely recognised by most financial institutions in Australia. This means you won’t have any issues using them to open bank or broker accounts or borrow from banks to buy properties in your SMSF.
Setting Up an SMSF
There are various steps involved with setting up a self-managed super fund. Each SMSF must be set up in accordance with the relevant regulations, legislations and ATO reporting requirements. Anyone who is considering setting up an SMSF must:
- Choose a name for the fund and consult with their accountant or financial adviser for assistance in setting up the right trustee and trust structure for their requirements.
- Prepare an investment strategy.
- Apply for the trust to be regulated, and acquire a Tax File Number (TFN) and Australian Business Number (ABN) if they do not have these already. All three of these can be set up at the same time.
- Set up a bank account. Most banks will need to be shown certified copies of the signed trust deed, tax file number certificate and business number certificate prior to opening an account with them.
- Inform their previous super fund provider that they want them to rollover their current balance into the SMSF.
Things to Consider Prior to Setting Up an SMSF
Setting up an SMSF is something that shouldn’t be taken lightly and will require extensive research. There are various factors to consider when deciding whether or not an SMSF is right for you:
Will it save you money?
There are numerous fees you will have to pay when managing an SMSF. You should take into consideration how much money you currently have saved up for retirement and if it’s financially feasible for you to set up an SMSF. Compare the accounting and audit fees of an SMSF with the 1-2% that most retail super fund providers charge.
What benefits will you lose?
Most employer-provided super funds come with benefits and options. If you choose to use an SMSF, you will have to set up these benefits yourself, as they will not automatically come with the aforementioned benefits and options.
Are you able to effectively invest your super funds?
The money that goes into an employer provided super fund is handled and invested by professional superannuation experts. If you’re unable to make sound investment decisions, your super fund will not be managed effectively and you won’t get the returns on your fund that you could be getting. This is why SMSFs are best suited to people who have experience with and understand how personal investments work.
What happens if I lose any of my funds?
Unlike standard types of super funds, you will not be able to reclaim any funds that have been lost through an SMSF.
Do you have the time and knowledge to manage your SMSF?
Anyone managing their own SMSF must be aware of all the legislation, regulations and taxation requirements that have to be met, and understand the investment market. Anyone who does not understand these requirements or does not have the time to do so should speak to an SMSF provider for assistance with running an SMSF or getting their self-managed super fund set up.
Contact Our SMSF Setup Experts Today
If you require the assistance of SMSF specialists in Melbourne to assist with setting up a SMSF fund, get in touch with iCare Super to organise a consultation. Our qualified SMSF accountant will help you with your SMSF setup and provide you with advice on how to effectively manage and get the most out of your SMSF. Contact us today by calling (03) 9557 4079 or filling out our online enquiry form.