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Steps

  1. 1
    Consider appointing SMSF professionals to help you get started. It is a good idea to use SMSF professionals to help you run your fund.
  2. 2
    Work out super fund. Create a trust deed and give your Super Fund a name
  3. 3
    Make sure all members are eligible to be a trustee. Members under 18 years old cannot be a trustee, being convicted of an offense.
  4. 4
    Check Residency of your fund. Your fund needs to be resident regulated super fund at all times during income tax year.
  5. 5
    Create trust and trust deed. Make a document that sets out the rules for operating and establishing your fund.
  6. 6
    Appoint Trustees
  7. 7
    Make a record of member's tax file number. Ask for your members' TFN - Taxation File Number and provide their TFG when your register with ATO.
  8. 8
    Open up bank account for your fund. To manage the fund's operation, accept cash contributions and rollover of super benefits.
  9. 9
    Registering with the ATO and apply for file a tax number
  10. 10
    Formulate your investment strategy

SMSFs Guide and Resources

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