Set-up an SMSF
Our Financial Advisors offer an SMSF Set-Up Offer at a flat fee of $ 825.00 plus disbursements. This Fee also includes assistance with an Application for an Australian Business Number (ABN) and a Tax File Number (TFN), if applicable.
Disbursements will be $ 137.50, being the document production fee. The Disbursements will vary, depending on whether you wish to select a Corporate Trustee, in which case additional costs being a Company Set-Up for this Company will apply (refer to the Company Set-Up offer for details).
What is included in the SMSF Set-Up Offer?
You will be provided with the following documents:
- A Product Disclosure Statement in plain language — this summarises the features of the Self Managed Superannuation Fund;
- Consents for the trustees, or directors of the trustee;
- Minutes to set up the SMSF and to set its investment strategy;
- Applications, beneficiary notices, and TFN notices for the SMSF members;
- ATO trustee declaration form;
- The SMSF trust deed;
- An Establishment Kit setting out.
What are some of the risks in using standard SMSF set-up?
It is important that you note and understand that our Financial Advisors, who essentially will take instructions from you and assist you and facilitate the registration of your SMSF, are not lawyers or accountants and cannot provide you with legal or Accounting advice.
The work performed by our Financial Advisors effectively involves the provision to you, of a standard set of documents, which have been generated by document providers, but which are completed by our Financial Advisors, based on your instructions.
We recommend that you obtain legal and accounting advice, prior to deciding to establish an SMSF.
Very often, for example, clients may require specific solutions that are tailored to their specific circumstances and which are not provided for in the standard set of documentation that is usually sourced and provided to clients when relying on standard documents used for the set-up of an SMSF.
I want to set-up an SMSF in a way that tailors to my needs.
Self Managed Super Funds or SMSFs were very recently introduced into Australia. As the name suggests, rather than having a superannuation trustee set up, manage and invest your super funds, an SMSF is directly micro-managed by the beneficiary. With the right advice and guidance, an SMSF can yield great returns. When set up incorrectly however, it can lead to severe repercussions.
Often, clients will need an SMSF set-up or structured in a manner that is specific to their particular needs and intentions, yet which is compliant with the regulations. This is where the role of an SMSF Lawyer becomes critical.
Our Lawyers can work hand in hand with a Finanacial Advior, to assist you with drafting amendments to an SMSF Trust Deed, that is particular and subjective and tailored to your specific needs. If you wish to obtain a fixed fee quote for the set-up of a tailored SMSF, you can make an appointment with one of our Tax & Superannuation Lawyers, who will obtain an understanding of your specific circumstances as well as your intentions and objectives, before providing you with a quote that is appropriate for the tailored legal solution that you require.
For more information, or to arrange an appointment with one of our professionals, contact our office on our main line (02) 9233 4048.
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