iSUPER® are a group of Chartered Accountants who provide clients with flexibility, transparency and control over their superannuation to drive the wealth and wellbeing outcome they are after. We are trusted to educate, coach and ensure compliance for our clients as they make wise investment decisions to grow their wealth.

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Set...things you need to consider

Before establishing an SMSF you should…

 

Consider who is going to be involved;

  • Decide on who will be members of the fund (maximum 4 members). *Note: Members can be added or removed later as required.
  • Decide on whether you will use a corporate trustee.
  • Choose a name for the fund and corporate trustee (if using one).  *Note: The fund name does not have to be unique, however the corporate trustee name does need to be.

 

Consider your investment strategy

SMSF’s have a greater pool of potential investments to choose from, including the majority of assets available in retail funds. Whilst some investments in SMSF’s are available through other superannuation platforms, several popular options may not be. Some of these investments include;

 

  • investing in direct property;
  • borrowing to buy direct property;
  • owning your business premises in your super fund;
  • loans;
  • collectibles;
  • listed shares that you choose (that are not in the ASX 300); and,
  • private company shares.

 

It is important to note however, that there are restrictions on some of the investments listed above. Whilst you can invest in them, it is important that you seek professional advice to check the suitability of these investments for your retirement strategy before any investments are made.

Having the flexibility to invest in a greater range of investments can ensure that you are able to invest at the level you are comfortable with. This also may enable you to take advantage of other investment opportunities that may not be available outside an SMSF.

You now have the control invest your super, your way!

We will provide you with advice on what restrictions the rules place on certain investment types, and how to set up your investments to maintain future fund compliance. As part of this, we will show you some tips and traps that will make running your fund that much easier, while maintaining your fund’s compliance.

 

Consider the costs of an SMSF

At iSUPER® we recognise that there are different needs for different funds.

We therefore offer a tiered pricing structure to allow you to choose what level of service you would like. All levels provide the basic support of prepared financial accounts, annual SMSF returns and documentation, and preparation of an audit file.

Which fee level you choose will depend on how much help you would like, and whether you see additional value in our premium services.

See our fee structure for more about what services are offered in each fee range, and how these could be of benefit to you.

 

Consider the time to set up an SMSF

Setting up your fund can be done within 48 hours.

The longest step in the process is the rolling over of funds from your industry fund into your new SMSF structure. Many funds are reluctant to see you leaving their institution and can make this process time consuming and drawn out.

We manage this for you to make your transition as seamless as possible.  Some funds can take up to six weeks to release your superannuation.

 

Consider consolidating your super

Whilst consolidating your super takes time, this can be done once your fund is established.

 

Some of the benefits in consolidating your superannuation include:

  • holding all your super together;
  • it allows you to invest your superannuation under one strategy;
  • it may allow you to invest in assets that may not be able to be purchased with only part of your superannuation; and
  • it should reduce the overall fees that are being paid.

 

At iSUPER®, we assist trustees with the paper work required to transfer the balance from your existing superannuation to your new SMSF. There are some tips in transferring your superannuation to a SMSF, contact us to find out how.

 

As always, if you have any outstanding questions around the suitability of an SMSF for you, we welcome you to contact us for a more in-depth discussion.

Contact Details

t: +61 2 9377 0766       

f: +61 2 9377 0788


e: info@isuper.com.au

Office Address:
8/234-242 George St, Sydney 2000

Postal Address:
GPO Box 3759, Sydney NSW 2001

t: +61 2 9377 0766       

f: +61 2 9377 0788


e: info@isuper.com.au

 

Office Address:
8/234-242 George St, Sydney 2000

 

Postal Address:
GPO Box 3759, Sydney NSW 2001