Help and expert advice on SMSF setup
To ensure your SMSF is compliant and is setup correctly with the help of Bottom Line Control SMSF specialists. Taking the right steps when setting up your SMSF can ensure your fund is eligible for tax concessions, is able to recieve contributions, and is straightforward to administer.
Need help with your SMSF set up?
Bottom Line Control are SMSF experts. Sit down with one of our accountants today and get your SMSF underway.Schedule Appointment
How to set up a SMSF
When setting up a SMSF you will need to:
- Consider which professionals you need to help - such as an accountant, fund administrator, legal practitioner, financial advisor, SMSF auditor, or a tax agent.
- Choose individual trustees or a corporate trustee - up to 4 individual trustees or a corporate trustee
- Appoint your trustees or directors
- Create the trust and trust deed - a trust is an arrangement where a person or company holds assets in trust for the benefit of the beneficiaries.
- Check your fund is an Australian super fund - to remain compliant and recieve tax concessions the SMSF must be an Australian super fund.
- Register your fund and get an ABN (Australian Business Number)
- Set up a bank account in your funds name
- Get an electronic service address if recieving contributions from employers.
- Prepare and exit strategy - it's really important to have a plan for ending your fund or if the unexpected happens.
What Our Clients Think
Bottom line Control, headed by Malcolm Chilman, have been by tax agent/accountant/book keeper for more than 10 years now, and I have nothing but praise for the efficient and cost effective way they go about their work. I have recently given them my SMSF as well and am impressed by the meticulous way he goes about the process of staying within the lines of the over-complex Superannuation law.
Whether it is simple BAS bookkeeping or complex questions of tax law, Malcolm is always there to help. And if he does not know some intimate detail of our almost incomprehensible tax process, he knows where to find the answer.
Every business has the occasional need for a quick answer, so one of the characteristics that I appreciate here, is Malcolm's ready availability, by phone and email.
Business Owner & Investor
40 Wholseley St, Woolloongabba, Qld 4102
Phone: (07) 3891 1742 | Email: info@PAapartments.com.au
Thank you for your support, and assistance over the past several years. I personally feel that from our cooperative services that Ram Automotive has been able to grow toward the sustainable company of which is today.
Bottom Line Control has given myself a great understanding of the companies finances, and also through ongoing fiscal performance meetings. Now knowing what Ram Automotive can expect for the future.
I look forward to an ongoing relationship with Malcolm and Bottom Line control, to secure our future within our community.
Proprietor of Ram Automotive Coolum Beach
We changed all of our financials over to Bottom Line a few years ago and have been quite impressed with the service and advice we have received. Nothing is too much to ask of them. Thank you to Malcolm and staff for being there for us.
Wayne & Penny Rex
Business owners and Property Developers
We switched to Bottom Line Control after realizing that our previous accountant was giving us incorrect advice and charging a premium for it. We have now been using Bottom Line Control for several years and have found Malcolm to be thorough and reasonably priced. He always finds ways to save money on our taxes. Malcolm and his staff are highly responsive and very easy to work with. We highly recommend.
Alex & Rebecca Watson
Equathon Horse Riding
PO Box 301 Noosa Heads, QLD 4567
Phone: (07) 5474 2665
Thanks Malcolm for saving me the stress of sorting through all the issues of self-employment, and the many confusing deductions and tax items associated with that. Although I was extremely late in lodging my tax return, it was not a problem for you, and you managed to get me a healthy refund when I was sure I was going to have a bill! I will certainly be using your services in the future and have already been recommending you to others.
Freelance Journalist (The Anderson Outlook)
I have found Bottom Line Control to be very attentive to the needs of the business and reacts in a speedy manner, getting the job done.
Founder of “Dough Fusion” chain of bakeries and Rick’s Artisan Pies and Sourdough