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Self Managed Super

Self Managed Super Fund (SMSF) is a do it yourself (DIY) superannuation, and while it seems complicated, with the right advice you can be well on your way to reaping the benefits. Many of our clients have experienced the advantages of self managed super, so if you are looking to set up a SMSF, we can help you start your journey.

Why set up a self managed super fund?

  • greater control of your finances and investments
  • more investment options as you can choose where to invest
  • opportunities to take advantage of significant tax benefits.

Once you have decided to establish a SMSF we can assist you with your specific circumstances.

There are several steps to follow to ensure that the SMSF is setup to comply with the requirements of the Australian Taxation Office.

We attend to each step, ensuring that all your documents are prepared, signed, lodged and stored.

The following is a guide to the process in establishing your SMSF:

  1. Attend a consultation with Napoli to discuss your requirements.
  2. Determine the structure of your SMSF.
  3. Ensure that the members of the fund are eligible to act as trustees.
  4. Are all members Australian residents for tax purposes? Non-resident members can affect the residency status of your SMSF for tax purposes.
  5. Choose a name for your SMSF.
  6. Appoint the trustees of your SMSF.
  7. Engage a solicitor to prepare the trust deed for your SMSF.
  8. Execute the trust deed, establishing your SMSF.
  9. Ensure that all members have supplied their tax file numbers to the trustees of your SMSF.
  10. Open a bank account in the name of your SMSF.
  11. Apply for an Australian Business Number and Tax File Number with the Australian Taxation Office.
  12. Facilitate the preparation of an investment strategy for your SMSF by an approved financial planner.