What is a Self-Managed Super Fund?

A SMSF is a DIY fund set by you for you, with you in control of your superannuation monies operating from your on bank account.

Is a Self-Managed Super Fund for me?

If greater control over your own financial destiny ,as well as potential cost and tax savings, sounds like a good sense to you, then you ought to give the option of managing your own superannuation very serious consideration.

. You will need to follow some basic rules.
. You’ll need to invest a little effort.
. And of course we recommend you take up our offer of taking advice from our Certified Financial Planner (SRC is an administration company and do not hold its own AFSL).

So if all these things sound like a good idea to you , Then the answer is YES a SMSF could well be for you. ATO conditions will apply.

Establishing Your Own Fund

If you have made the decision to take control of your money locked away in a managed superannuation fund, getting started is relatively simple, after all helping people set up their DIY super fund is our business and we have performed this service for thousands of satisfied clients since established in February 2003.

Here’s what we do for you

Prepare all documentation including.

  • Fund ABN Number.
  • Fund Tax File Number.
  • ATO Compliance Certificate .
  • 2 Sets of Trusteed, including one for your bank.
  • Nominated Beneficiaries (take care of your family should anything happen to you!
  • Liaise with current and previous super funds and rollover your money to you own SMSF’S bank account.
  • Tax deductible life insurance (options).
  • An optional low cost admin service for those who want ongoing support.
  • Free consultation with our friendly financial advisor.

In fact we do everything required to ensure your fund is compliant with the ATO. Everything from your first contact with us to you being in control and ready to invest your own money through your own bank account.

Admin Service, if you are not sure about undertaking the ongoing admin yourself.(optional)

We can provide a comprehensive administration service specifically for self- managed superannuation funds, eliminating administrative burdens from you the trustee. This service is designed to handle a wide variety of SMSF requirements whilst helping the trustee comply with the taxation and other relevant legislation. Our administration service for Self- Managed Superannuation Funds offers a comprehensive service from fund establishment, to audit and taxation lodgement. We will assist in preparing all paperwork required to complete your annual audit and tax return with minimal effort from you, the trustee. Other benefits for our administration clients include:-FOR APPROX $1.60 PER DAY YOU WILL RECEIVE THE FOLLOWING BENEFITS:-

  1. 1. Savings on Annual Audit and Tax Return Fee
  2. 2. ATO directives etc
  3. 3. Keeping and maintaining member records
  4. 4. Providing information to members
  5. 5. Preparation of fund minutes
  6. 6. Reporting to trustee
  7. 7. Insurance Links
  8. 8. Reporting to Centrelink if applicable
  9. 9. Legislation updates
  10. 10. Secretarial services
  11. 11. Book-keeping

At Superannuation Recall Consultants/UK Pension Transfers Australia our goal is to put our client’s in control and doing it themselves. Therefore our ongoing administration service is entirely optional. View Top 10 Considerations<

Common Questions

Q. Who can have a DIY super fund?

A. Just about anybody is the simple answer, you do not need to be a business owner nor have large sums of money to open a DIY Fund.

Q. What can be the advantages of managing my own super?

A. Total control, you choose how your money is invested, cash, property, cash, collectibles etc.

. Your money working out of your bank account.
. Flexibility to move your cash between managed or self –managed .
. Tax deductibility life insurance.
. Tax savings & possible lower running costs.
. Invest overseas or even business premises.

Q. Can I access my super for reasons other than investments?

A. The purpose of superannuation is to fund your retirement. There are however provisions for early release of funds for reasons such as hardship, ill-health, compassionate grounds such as protecting loss of your home, or where a member does not have the financial capacity to meet an expense, (ATO) conditions apply.

Q. Can I use any the bank of my choice?

A. The choice of banking institution is entirely up to you.

Q. Can I choose which fund my employer pays my super into?

A. In most cases yes, the super choice legislation allows most Australians to instruct their employer to pay their superannuation contributions into their SMSF.

Q. How much money do I need to start a Self-Managed Superannuation Fund.

A. There is no legislation that specifies a minimum amount required.

Q. Can my SMSF be of help if I were to fall ill or get in financial hardship?

A. Yes your SMSF allows you to access a range benefit options in times of sickness, hardship, and compassionate grounds.

Q. Can SRC help with the ongoing administration of my SMSF?

A. Yes, we have a low cost optional admin service if required.

Get in Touch

DISCLAIMER: This information is necessarily general and has not been prepared with reference to your specific objectives, financial situation or needs Superannuation Recall Consultants do not hold an Australian Financial Services Licence and recommend that you should seek professional advice from a trusted financial adviser before making any decision regarding the services offered by SRC or associated companies from this site.