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.

SMSFs outperform large funds over 8 years, just

Note: The ATO publishes an annual report about SMSFs for each financial year. This article covers the latest SMSF performance data available from the ATO, as at January 2016. The ATO will provide updated performance data (for year ending 30 June 2015) in late 2016.A common argument put forward … [Read more...]

Oops! Top 10 SMSF boo-boos for 2015 financial year

Note: Every year, the ATO publishes the top compliance mistakes made by SMSF trustees. This article contains data up to 30 June 2015 (latest available as at January 2016). The next update, for compliance data up to 30 June 2016, will be available in late 2016.The ATO has published the top 10 … [Read more...]

SMSF confidential: the inside story on DIY super funds

Note: The ATO publishes an annual report about SMSFs for each financial year. This article covers the ATO’s 2013-2014 statistical review of SMSFs (released in December 2015). This report also contains data for the 2014-2015 year. The annual report for the 2014-2015 year will be available in late … [Read more...]

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

Note: Article updated in January 2016, and includes an extra table outlining fees for small and large SMSF account balances. This article includes the latest SMSF cost data released in December 2015 by the ATO, and selected cost data released by ASIC in September 2013. The next SMSF cost update is … [Read more...]

Are SMSF audits too expensive?

Note: Every year, the ATO publishes the average audit fees incurred by SMSFs. This article contains data for financial year ending 30 June 2014 (latest available as at January 2016). We have retained all comments from earlier versions of article. The next update, for compliance data up to 30 June … [Read more...]

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

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 supervisory levy can’t fix large fund issues

For those of you with long memories, many of the recent SMSF compliance changes reported on the SuperGuide website were originally recommended by the Cooper review (review of the super system). The Cooper review was named after the chair of the panel, Jeremy Cooper, and to his credit several of his … [Read more...]

SMSF administration: Are there problems dealing with online trust deed providers?

Q: Thanks for the super site – it has been very useful for me as a trustee of my family SMSF. I have also bought your book, DIY Super for Dummies, which has been very informative and explained many issue in plain English. My question relates to updating the trust deed. I have looked at several … [Read more...]

SMSF audit: you must appoint an approved SMSF auditor

If you run a self-managed super fund, you must ensure that your SMSF is audited annually by an approved SMSF auditor, registered with the Australian Securities & Investments Commission (ASIC).As SMSF trustee, you also must ensure that you formally appoint your fund’s auditor each year. You … [Read more...]

SMSFs: Is DIY super right for you?

Running your own super fund is not necessarily a difficult task but you need to keep your wits about you. You may hear a lot a noise about DIY super, and sometimes from people who know nothing about super. Your best defence against bad advice is to start with your own research.The term, DIY … [Read more...]