Welcome to Superannuation Warehouse

  • Up to 3 bank accounts or term deposits with any bank or credit union
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  • Bank account or term deposit with any bank or credit union
  • Use any broker
  • Managed funds
  • Investment properties
  • Precious metals
  • Any other allowable investment
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Steps we take to set up an SMSF

1. Set up an SMSF2. Open a Bank Account3. Roll Existing Funds4. Share Trading Account5. Direct Debit Set-Up
Superannuation Warehouse will register your SMSF with the ATO and obtain both an ABN and a TFN. We will also prepare a Trust Deed, an Investment Strategy, Minutes and other documents required to legally establish your SMSF.
Open a bank account and/or a deposit account with any bank. Providers can be a U-Bank operating account, ANZ, Rabo Direct, Credit Unions etc.

As a Trustee of an SMSF you can shop around for the best deal for your SMSF. Note that Superannuation Warehouse does not receive any fee or commission from any bank or any other company. Look out for an account with no or low fees as well as high interest rates. Look out for some banks that don’t pay bonus interest if you make withdrawals from your SMSF.
NOTE: to existing Superannuation Warehouse clients – there is a new option to use any bank account.

Roll your existing Superannuation from your Retail Funds into your new SMSF. You can also contribute directly into your SMSF bank account. Beware not to breach the contribution caps. Harsh tax penalties exist if you breach the caps – so keep to these limits.
The $39 option is for a basic SMSF. You can set up a bank account with any bank or credit union. A typical set-up might be to have 2 bank accounts: one operating bank account and one term deposit account.

When using UBank, for example, you will loose bonus interest if you have a debit order or regular payment from your bank account. A transfer between bank accounts does not count as a withdrawal and you will not loose the bonus interest. So to ensure you receive the highest interest possible, you might need to set up more than one bank account.

Once your Fund is established, Superannuation Warehouse will send an instruction on setting up a Direct Debit payment from your bank account to Superannuation Warehouse for the payment of the monthly fee ($39 or $79).

How does Superannuation Warehouse perform SMSF Administration

We request Trustees to supply us with a soft copy of their SMSF bank statements and share trading account statements at the end of the financial year and we load the data into our accounting system and prepare their accounts and SMSF tax returns. It’s electronic, it’s paperless.

Where you invest and how you run your SMSF It is entirely up to you. Superannuation Warehouse is here to take care of the set up and carry out all the annual administrative functions, (e.g doing to the accounts, calculating the tax, arranging the audit, submitting a tax return for your SMSF) leaving you, as a Trustee of the SMSF, to focus on what to invest in for your long-term retirement benefit.

If you want to use other service providers, choose an Advanced Package ($79). Data in a consistent electronic format means we can offer a full administration service for a low monthly fee.

What is included

As part of the SMSF setup process, Superannuation Warehouse will apply for an Australian Business Number (ABN) and a Tax File Number (TFN). On an annual basis, we will prepare your financial statements, take care of your SMSF tax return, and arrange your SMSF audit. All these functions are covered by your fixed monthly fee.

Your annual SMSF audit is carried out by an auditor appointed and paid for on your behalf by Superannuation Warehouse. The audit fee is included in the monthly cost – no extra audit fee is charged. The cost to you is therefore a fixed monthly amount.

This is generally a good value proposition for most Trustees

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