Set-up and Fees
Setting up a SMSFÂ
1. Purchase a trust deed.
2. Appoint the trustee/s of the SMSF.
3. Elect to be a regulated fund with the ATO.
4. Select members of the fund.
5. Prepare the investment strategy of the fund.
6. Applications made for a Tax File Number and Australian Business Number.
7. Bank account is opened in the name of the fund.
You will need to speak to your accountant for further information on the set up procedures.
Set-up costs of a SMSF:
A one-off establishment fee of $1,300 for individual trustees and $2,200 for a corporate trustee (the $2,200 includes the set up of the trustee company also) incl. GST which includes:
- Preliminary client discussions
- A current trust deed
- Membership applications
- Commencement minutes
- Tax File Number
- Australian Business NumberÂ