Set up a bank account and share trading account or managed investments account . Superannuation Warehouse will set up your SMSF for free with a low $39 per month SMSF administration fee.

How does it work

1. Set up a SMSF – apply here

Superannuation Warehouse will register your SMSF with the ATO and obtain an ABN and TFN. We also issue your new SMSF with a Trust Deed, Investment Strategy, Minutes and other relevant documents to legally establish your SMSF.

2. You open a bank account and \ or deposit accounts with any bank. Providers can be a U-Bank operating account, ANZ, Rabo Direct, Credit Unions etc.

As Trustee of a 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. Also look for a high interest rate. Look out for some banks that don't pay bonus interest if you make withdrawals from your SMSF.

Note to existing Superannuation Warehouse clients - this is a new option to use any bank account on the $39 plan.

3. Roll your existing Superannuation from your retail funds into the SMSF. You can also contribute directly into your SMSF bank account. Beware not to breach the contribution caps. The cap is generally $25,000 per Member per year. Harsh tax penalties exist if you breach the caps - so keep to these limits.

4. On the $39 plan you can have a bank account and a basic share trading account. You don't have to open up a share trading account and you can just leave your Super in the bank or term deposit. If you want to use other service providers (other than bank accounts and Bell Direct) your SMSF will be on the $79 monthly plan.

4a: Open up a Bell Direct share trading account for share trading

5. 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).

We offer free SMSF set-up and the monthly fee covers preparing annual accounts, a tax return and the audit. An outside auditor prepares the audit and Superannuation Warehouse appoint and pay for the auditor. Your SMSF does not pay additional for the audit.

  
How can Superannuation Warehouse perform the SMSF administration at such a low cost?

You have to supply us with a soft copy of your bank account statement and share trading account statement at the end of the financial year. This allows us to operate totally paperless and electronic. We load this data into our accounting system and prepare accounts and a tax return for your SMSF. We offer you the best SMSF service at the most reasonable price.

It is your decision as Trustees where to invest and how to run your SMSF. Superannuation Warehouse will take care of the set up and all annual administration functions, i.e. performing the financial accounts, calculating the tax, arrange for the audit and submitting a tax return for the SMSF. As Trustee of the SMSF you can focus on what you invest in for your long term retirement benefit .

If you want to use other service providers (additional to Bell Direct and Enfinium), we charge a higher monthly fee. Data in a consistent electronic format means we can offer a full administration service for a low monthly fee.

What is included?

Superannuation Warehouse will set up your SMSF which includes applying for an ABN and TFN. On an annual basis Superannuation Warehouse prepares financial statements, a tax return for your SMSF and arrange for the audit of your SMSF. All these functions are covered from your fixed monthly fee.

The audit is performed by an auditor appointed by Superannuation Warehouse on behalf of your SMSF. The fee for the auditor is paid by Superannuation Warehouse. The audit fee is included in the monthly cost - no extra audit fee is charged. The cost to you is therefore fixed at $39 per month.

This is the best value SMSF package in Australia!