Brisbane's Accounting & SMSF Specialists
(07) 3394 4622

Tag: setup SMSF

Steps you need to take when setting up your SMSF

Steps you need to take when setting up your SMSF

SMSF
It is important that you seek the advice of a professional when setting up your SMSF to ensure it is ATO-compliant. Not meeting ATO requirements can cost you your fund’s compliance status before you even start. This can result in you forking out a hefty establishment fee for a super fund that may never get off the ground. In general, there are 11 important steps involved in setting up your SMSF including: Decide on either an individual or corporate trustee structure for your SMSF. You need to consider the cost, the way your fund assets are registered, and the complexity of the trust structure that you choose for your SMSF. Decide on the trustee members and obtain their written consent. Trustees can be members of either an individual or a corporate trustee structure -