The self-managed super fund (SMSF) is a trust structure and way to save for retirement. This superannuation trust structure was developed so that members can retire with the security and peace of mind of knowing their funds are safe, even if they’re retired!

Here Are The Six Stages To Your SMSF Setup:
1. Information Gathering
Gathering a large amount of data on things like required to set up superfund, what you want to call your new SMSF, and basic information are all important considerations. We’ll also need to know about your trustee structure requirements, as well as number of members you may have.

We’ve created a simple checklist for you to follow so you can finish it quickly.

2. Create an SMSF
Because an SMSF is a different entity, we’ll need to buy the Trust Deed, register the Trustee Company with ASIC if required, and fill out all of the necessary paperwork. We’ll need to register the SMSF with the ATO once that’s done. This usually takes anything from 2 to 4 weeks, depending on how fast the ATO is! (There are tasks for you to do here and sign the paperwork.)

3. Open a bank account
You can go to any bank of your choice and open a bank account and/or a deposit account. A U-Bank operating account, ANZ, Rabo Direct, Credit Unions, and other providers are examples of providers.

4. Super Rollover
You can then roll over your current super after the bank account is set up, depending on your decision.

5. Share Trading Account
Any share trading platform or bank of your choice can open an account for you if you decide.

6. Annual Accounting
Quick SMSF Accountants will send you a checklist for annual accounting task and prepare financials, tax return of the SMSF.

For more info visit us: https://www.quicksmsfaccountants.com.au/smsf-setup-and-administration/