Self Managed Super Fund Application
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?
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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.