SMSF Set Up
Step-by-Step SMSF Setup,
Tailored to Your Needs
✓ Expert guidance on the SMSF setup process.
✓ Set up after written confirmation from a licensed financial advisor.
✓ Compliance and SMSF tax.
✓ Setup of corporate and bare trusts.
✓ Jargon-free, friendly process.
SMSF Specialist Accountants
A Self-Managed-Super-Fund (SMSF) can give you the welcome freedom to decide how your retirement nest egg is invested … whether that’s shares, property, or other assets. But with a setup process that’s seriously complicated, highly detailed, and bound by strict compliance requirements, it’s not something you should do yourself.
At DSV Partners, we take on this heavy responsibility. Once your financial advisor has informed you in writing that a Super is suitable for you, we can engage in all the necessary SMSF set-up steps. Thus, building you a fund that meets all the stringent demands, and allowing you to focus on your retirement strategy.
Please note:
DSV Partners is a registered tax agent, not a licensed financial planner, as outlined by the Corporations Act 2001. We are unable to provide advice on the suitability or performance of superannuation investments, fund strategies, or retirement planning decisions. Before making decisions about your SMSF, take advice from a licensed financial advisor.
We are authorised by the Tax Practitioners Board to provide specialist advice on SMSF taxation matters, set up an SMSF, and ensure your Super remains compliant. We only assist with SMSF setup once you’ve received written confirmation from a licensed financial advisor stating that an SMSF is appropriate for your circumstances.
What Is an SMSF?
A Self-Managed Super Fund (SMSF) is a type of trust that aims to provide retirement benefits to its members. As the trustee of the SMSF, you enjoy the significant flexibility to choose how the fund invests … decisions that are usually made after consulting with a licensed financial advisor.
Generally speaking, there are a multitude of areas where an SMSF can invest, from shares to property, and collectibles to cryptocurrency … depending on what’s allowed by the fund’s trust deed. And crucially, the SMSF must comply with the Superannuation Industry Supervision (SIS) Act 1993.
Our SMSF Setup Process
Creating a legal and compliant SMSF is much more involved than ticking some boxes, filling in some forms, and then signing a few documents. With multiple steps being required, it demands expert guidance to ensure it meets the demands of the SIS Act (1993), ATO requirements, and ASIC corporate governance obligations.
Collaborating with you and your financial advisor, DSV Partners exhaustively completes every setup stage needed to ensure a conforming Super fund.
The Steps Involved in SMSF Setup
1. Checking Financial Advice Has Been Pursued
This is one of the most important SMSF requirements, and the onus is initially on you. We will only commence with setting up your SMSF once we are satisfied that you have sought advice from a qualified professional, and when we have received written documentation from your financial advisor confirming your SMSF suitability.
2. Creating the Structure of the Trust
Based on your advisor’s strategy and advice, we can establish the fund’s trust, forge a compliant trust deed, and create a custodial or bare trust and corporate trustees for any SMSF property.
3. Trustee and SMSF Registration
We address the registration of your SMSF with the ATO, can create a corporate trustee entity, assist directors in gaining their Director IDs before they accept their appointment, and apply for TFN (Tax File Number) and ABN (Australian Business Number).
4. Fund Administration
DSV Partners will take you patiently through all the necessary administrative duties, which can include creating a fund bank account, getting an Electronic Service Address (ESA), completing all deeds and incorporation requirements, and using SMSF-compliant accounting software.
5. Fund Rollover
If you have existing Super savings in a standard fund, we can help with rolling this over into your brand new SMSF.
6. Conveyancer and Broker Coordination
If your SMSF is planning on investing in a specific property, we can liaise with your broker and/or conveyancer to ensure they receive all the required documentation.
What Is the SMSF Setup Cost?
The price of establishing your compliant SMSF depends on your particular needs and requirements. For example, whether we must also create a corporate trustee structure, set up a bare trust, or if you are borrowing to put property into your Super Fund.
At DSV Partners, we provide completely transparent pricing when you engage us. Since we don’t provide off-the-shelf solutions, you only pay for the services you need.
Long-Term SMSF Support, Not a One-Off Service
After the setting up of your SMSF, we don’t simply wave goodbye. Instead, we can be here for the long term, assisting with all SMSF taxation, audit, and compliance matters.
Depending on your needs, this can include:
✓ Explanations of the setting-up process.
✓ Set up of SMSF online bookkeeping software.
✓ Preparation, calculation, and lodgment of SMSF tax returns.
✓ Annual financial statements and compliance documentation.
✓ Arrange for an independent SMSF audit.
✓ Answering questions on rollovers and contributions.
✓ Guidance on trustee obligations and timing.
✓ Documentation assistance for property investment.
✓ SMSF tax planning.
✓ Addressing any historical legislative breaches.
Why Choose DSV Partners for Your SMSF Setup?
Because when you’re dealing with something as vital as your retirement, you deserve the best SMSF specialist accountants.
DSV Partners delivers the expertise and experience to create a legally compliant SMSF from day one. Through extensive collaboration with your financial advisor, we establish a fund that aligns perfectly with the professional advice you have received from them.
With DSV Partners, You Gain the Benefits Of:
Expert SMSF setup knowledge – our team has extensive knowledge of SMSF tax, setup, and regulatory and compliance needs.
Unparalleled compliance – ensuring all documentation and registrations are precise and legal.
Efficiency – we take on the complicated burden of SMSF setup, and create it smoothly and in line with your advisor’s recommendations.
Ongoing support – from compliance to tax, trustee duties to audits, we stay with you long after the setting-up process.
Certified Practising Accountants and Chartered Accountants – reassurance, knowing your SMSF setup is in the hands of qualified professionals.
Transparent pricing – upfront costings for the setup and any ongoing SMSF taxations and compliance support.
Setting Up an SMSF FAQs
Do I Need a Financial Advisor To Set Up an SMSF?
As responsible SMSF accountants, DSV Partners will only set up your SMSF once your financial advisor has confirmed that establishing a Self-Managed Super Fund is appropriate for your circumstances.
What Is an SMSF Account Based Pension?
This is regular income that’s provided for by your Self-Managed Super Fund once you retire.
Who Pays SMSF Setup Costs?
Usually, the expense is paid by the fund once it is set up and has a bank account. If costs need to be paid before creation, like financial advice, you may need to pay these yourself.
Can I Set Up SMSF Myself?
In theory, yes. But it would require an extensive knowledge of superannuation law, ATO requirements, trustee duties, and an in-depth understanding of the SIS Act (1993). Get it wrong, and you’re risking creating a fund that could break compliance rules, have tax and penalty implications, and even be disqualified.
Instead, speak to a financial advisor and then an SMSF accountant, such as DSV Partners, who will ensure proper registration and abidance of rules.