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SMSF Setup SMSF Transfer

SMSF Online Setup

SMSF Setup & Administration Made Easy

With over 12 years of specialized experience in SMSF administration, we provide fast and efficient online setup services for SMSFs, as well as affordable, reliable, and prompt administration solutions. Our comprehensive services cover everything from managing annual returns and reports to preparing for external audits and ensuring timely lodgment with the ATO.

Once you submit your online application form below, we will quickly get in touch to verify your identity, assess your knowledge of SMSFs, and understand the purpose behind setting up your SMSF. The ATO is particularly concerned about promoters who establish SMSFs for illegal early release of funds. If someone has suggested you set up an SMSF, please ensure they hold an AFSL license to provide such advice. Additionally, it’s important to know that withdrawing superannuation funds for personal use before retirement is prohibited by law.

Please note that we solely provide administrative services for SMSF setup, accounting, tax return preparation, and external audits. We do not offer advice or recommendations on whether establishing an SMSF is suitable for you or on managing investments within it. However, we do provide detailed guidelines to help you maintain your SMSF’s compliance status, allowing you to focus on growing your investments!

    Select Trustee Type:

    Title
    First Name (as per ATO records)
    Middle Name
    Surname
    Personal Email Address
    Phone Number
    Residential Address
    Tax File Number
    Date of Birth
    Place of Birth if born in Australia, please provide suburb and state. If born overseas, Please provide city and country
    Is this trustee an undischarged bankrupt?
    Has this trustee ever been convicted for dishonest conduct?
    Has this trustee ever received a civil penalty order?
    Has this trustee ever been a disqualified person by the regulator (ATO or APRA)?
    Is the trustee a Resident of Australia?
    Trustee 1 /Member 1 (Compulsory)
    *
    *
    *
    *
    *
    *
    *
    *
    *
    *
    *
    *
    *
    *
    Trustee 2 (Compulsory) /Member 2 (Optional)
    Trustee 3 /Member 3 (Optional)
    Trustee 4 /Member 4 (Optional)
    * Required Fields

    Steps for Setting Up an SMSF

    There are various steps involved with setting up a self-managed super fund. Each SMSF must be established in accordance with the relevant regulations, legislations, and ATO reporting requirements. Individuals considering setting up an SMSF should:

    1. Assess if you have the skills and knowledge to operate the SMSF.
    2. Choose a name for the fund and determine the appropriate trustee structure.
    3. Develop an investment strategy. We will provide you the template so you can update to suit your needs
    4. Apply for regulation of the SMSF and obtain a Tax File Number (TFN) and Australian Business Number (ABN) from the ATO.
    5. Establish a bank account. Most banks will require certified copies of the signed trust deed, TFN, and ABN before opening an account.
    6. Arrange the rollover from their existing superannuation fund to the SMSF.
    7. Invest in the SMSF.

    Prompt SMSF Setup Support

    If you have any questions in regards to your SMSF setup or encounter any difficulties while filling out our online SMSF setup form, you can reach out to our support team by phone, email or online chat. Your queries will be promptly addressed by our SMSF specialists. We have a dedicated team that specialises in setting up all types of SMSFs and related 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. We’ll deliver all the necessary  documents and TFN/ABN for your SMSF within a few hours in most cases.

    Some clients may prefer an in-person meeting before proceeding with their SMSF setup. We can schedule a meeting with you at our Melbourne office to address all your SMSF setup concerns and questions.

    Affordable SMSF Solutions

    It’s crucial to choose an SMSF setup service with transparent fees and the most economical setup costs, so you can grow your SMSF wealth with peace of mind. iCare Super provides cost-effective and fully independent SMSF services. Our prices are highly competitive for SMSF establishment and administration. You can find the fee for our services in our fee schedule.

    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 recognized 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.

    No Restrictions

    At iCare Super, we don’t place any restrictions on investments, broker accounts or bank accounts. This gives you the freedom to select any trading platforms, bank accounts or investments permitted by superannuation laws. Please note that we do not provide advice on investments, nor do we recommend any financial products to you. You will need to conduct your own research or consult with financial planers or insurance brokers on your SMSF investments or insurance products, etc.

    Things to Consider Prior to Setting Up an SMSF

    Setting up an SMSF is a significant decision that requires thorough consideration and research. Several factors need to be carefully evaluated before determining if an SMSF is suitable for you:

    Financial Considerations:

    Assess whether managing an SMSF will lead to cost savings. Take into account your retirement savings and whether establishing and maintaining an SMSF is financially viable. For instance, smaller member balances in an SMSF may result in higher accounting and audit fees compared to industry or retail super funds.

    Loss of Benefits:

    Understand the benefits and options offered by employer-sponsor superannuation funds, as well as industry and retail superannuation funds which may provide cost-effective insurance products. Note that using an SMSF may result in the loss of these benefits.

    Knowledge, Skills and compliance risks:

    Recognize that SMSFs are regulated by the ATO and require compliance with strict rules governing contributions, withdrawals, investments, and pensions. SMSF trustees bear responsibility and liability for investment decisions, daily operations, and compliance, necessitating a deep understanding of superannuation rules, legislation, investment markets, and record-keeping skills. Non-compliance may lead to penalties from the ATO.

    Investment Expertise:

    Consider your ability to effectively invest your super funds. Unlike retail or industry super funds managed by professional experts, SMSF investment decisions are the responsibility of trustees. Individuals lacking sound investment decision-making skills may struggle to effectively manage their super funds, potentially missing out on potential returns. SMSFs are best suited for individuals experienced in specific investments or those who have sought assistance from investment advisors.

    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 your SMSF compliance so you can  get the most out of your SMSF. Contact us today by calling (03) 9557 4079 or filling out our online enquiry form.

     

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