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   Super Guide

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.

Oops! Top 10 SMSF boo boos   Super Guide

The ATO has published the top 10 compliance mistakes that SMSF trustees make when running their self-managed super funds.

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

Each quarter the ATO releases self-managed super fund statistics derived from annual return data. Some of the more interesting data outlines the investments that SMSF trustees choose, and how much SMSF money is invested in the different asset types.

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

The latest ATO statistics on SMSFs (representing SMSF activity up to the end of March 2014) highlight some interesting observations that can be made about the current batch of SMSF trustees.

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

Q: My wife and I are considering setting up a self-managed super fund. I asked two advisers for a quote on the set-up costs for a self-managed super fund with a starting balance of $600,000.

Are SMSF audits too expensive? (updated figures)   Super Guide

Q: SMSF auditors and administrators are charging rather high audit fees, perhaps because of the mandatory nature of these audits.

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

Q: My wife is 58 and retired and she has her own SMSF, where she has rolled over her super funds from various employers. She plans to start her SMSF pension soon.

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.

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

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.

SMSF confidential: the inside story on DIY super funds   Super Guide

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 late December 2013).