What is included in the SMSF Establishment process?
What is included?
- Corporate Trustee Establishment (Special Purpose SMSF Company)
- SMSF Trust Deed
- Documentation to appoint Trustees
- Trustee Declarations
- Lodgement of an Election for your SMSF to become a Regulated SMSF
- ATO Application and confirmation of a Tax File Number for your SMSF
- ATO Application and confirmation of an Australian Business Number for your SMSF
- Sample Investment Strategy that you can adopt for your SMSF or modify if required
- Resolutions and minutes to acknowledge the establishment of your SMSF
- A central Bank Account for transacting
- A CMC Markets Broker Account
- An AMM Term Deposit Platform Account
- Compliance letters for Rollovers and Employer contributions
- Access to your SMSF portal
- Access to your portfolio online
- Roll Over Service
- Induction/Document Signing Meeting (in office or via Skype)
What isn’t included?
- ASIC Annual Company Fees
- Investment transaction fees such as brokerage or financial adviser fees
- ATO Supervisory Levy (in first tax return)
- Ongoing monthly administration fees
- Limited Recourse Borrowing Arrangements (LRBA’s- SMSF Borrowing)
- Additional Fees for ATO Audits or ongoing compliance breaches such as Contravention Reports.
- Any Cost Associated of Exiting your existing Super Fund
- Costs of establishing or Transferring Insurance
- Financial Advice Fees
Please be sure to read Supervision’s Terms & Conditions & FSG before commencing your application.
Depending on the investments that you make within your SMSF, there may be additional fees or charges imposed by third parties. As we don’t know what you want to invest in, Supervision cannot anticipate nor take responsibility for every fee applicable to operate your SMSF. The above list clearly defines what Supervision provides under our establishment service. Any additional expenses your SMSF may incur due to the investments purchases or sales is the responsibility of the Trustee and should be investigated before entering into an SMSF. If the SMSF Trustees are selected for Audit before commencing their SMSF, additional fees may apply.
Refunds & Disqualification
Once your SMSF has been established by way of creating a corporate trustee, there is no ability for Supervision to refund establishment costs. From time to time, depending on your personal circumstances, the ATO may analyse your ability to conduct an SMSF. If the ATO determine that you are not eligible for an SMSF at any time after establishment, no refunds will be granted. We can’t influence the ATO’s determination. If you are worried about this, please speak to Supervision before creating your application.
Talk with an expert
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