Setting up a SMSF

Running a self-managed super fund (SMSF) gives you control over where your super money is invested, and access to a greater choice of investments compared to managed super funds, such as retail or industry funds.

As a SMSF trustee, you can invest in direct property, artwork and virtually any valuable asset. You can even purchase business property, such as an office, and use the property in your business.

Before you get too excited about the positives of running a SMSF, you need to ask yourself three key questions: Are you into commitment? Are you familiar with investing? Do you have lots of money, that is superannuation money?

Below are some of our key articles on Setting up a SMSF:

Set out below are all SuperGuide articles explaining Setting up a SMSF.

SMSF trustee declaration: a quick guide

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When setting up your SMSF, you must sign a SMSF trustee declaration that confirms you understand the responsibilities and duties involved in running a SMSF. In late 2012, the ATO made 3 significant changes to the SMSF trustee declaration, reflecting significant changes in the super laws affecting … [Read more...]

Oops! Top 10 SMSF boo-boos

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Note: Every year, the ATO publishes the top compliance mistakes made by SMSF trustees. This article contains data up to 30 June 2013. The next update, for compliance data up to 30 June 2014, will be available in early 2015. The ATO has published the top 10 compliance mistakes that SMSF trustees … [Read more...]

SMSF investment: Three most popular asset classes, and the rest (updated)

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Note: We regularly update this article with the latest data on self-managed superannuation funds (SMSFs) released by the Australian Taxation Office. This article contains the latest data available up to June 2014 (for data as at March 2014). Each quarter the ATO releases self-managed super fund … [Read more...]

Do you fit the latest profile of a ‘typical’ SMSF trustee?

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Note: We regularly update this article with the latest data on self-managed superannuation funds (SMSFs) issued by the Australian Taxation Office. This article contains the latest data available as at June 2014 (for data up to March 2014). The latest ATO statistics on SMSFs (representing SMSF … [Read more...]

SMSF: How much does a DIY super fund cost? (updated figures)

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Note: Article updated in June 2014, and enhanced with an extra table outlining fees for small and large SMSF account balances.This Q&A includes the latest SMSF cost data released in December 2013 by the ATO, and data released by ASIC in September 2013. The next SMSF cost update is expected to be … [Read more...]

Are SMSF audits too expensive? (updated figures)

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Note: Every year, the ATO publishes the average audit fees incurred by SMSFs. This Q&A contains data for financial year ending 30 June 2012 (latest available as at June 2014). We have retained all comments from earlier versions of article. The next update, for compliance data up to 30 June 2013, … [Read more...]

SMSF basics: Can I run two super funds? (2 questions)

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1. Running two DIY super funds Q: My wife is 58 and retired and she has her own self-managed super fund, where she has rolled over her super funds from various employers. She plans to start her SMSF pension soon. After starting her pension, could she also start another SMSF fund? A person can … [Read more...]

SMSF investment: Can my DIY super fund invest in direct property?

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Q: I am interested in setting up a self-managed fund. I would like to know more about the rules for purchasing property in a super fund, and whether it is possible to use borrowings to do so. A: A self-managed (DIY) super fund can invest in all types of property, including residential, … [Read more...]

One-way traffic! Moving super from NZ to Australia not happening

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We have good news, and we also have some bad news, for New Zealanders who have settled permanently in Australia, and who want to transfer KiwiSaver accounts to Australian super funds. We also have very good news about the prospects of taking your Australian super with you, for those Australians who … [Read more...]

SMSF confidential: the inside story on DIY super funds

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Note: The ATO publishes an annual report about SMSFs for each financial year. This article covers the ATO’s 2011-2012 statistical review of SMSFs (released in December 2013). This report also contains data for the 2012-2013 year. The annual report for the 2012-2013 year will be available in early … [Read more...]