Setting up a self-managed super fund (SMSF) | Essentials to strengthen your small business

The SMSF lifecycle

An SMSF generally has 3 stages in its lifecycle:

Setting up – where you work out if an SMSF is right for you, then set up the fund and develop a plan for when to wind up.
Running – where you administer the fund, make and accept contributions and rollovers, manage investments and pay benefits.
Winding up – where you finalise reporting and obligations, then close the fund.

Setting up a self-managed super fund (SMSF)

What is an SMSF?

3 mins

What is an SMSF?	0%
The SMSF lifecycle	0%
Who is responsible?	0%
What you can’t do with an SMSF	0%

Is an SMSF right for you?

6 mins

Review SMSF sector statistics	0%
Understand all SMSF obligations	0%
Penalties	0%
Seeking financial advice	0%

Setting up an SMSF

1 mins

The steps to set up an SMSF	0%

Choose an SMSF trustee structure

4 mins

Choose an SMSF trustee structure	0%
Requirements for each structure	0%
How the SMSF structures compare	0%

Appoint trustees

6 mins

Appointing trustees	0%
Who can be a trustee or director of a corporate trustee?	0%
Things to know if you intend to be a director of a corporate trustee	0%
Your role and responsibilities under the law	0%
Consent to being appointed as a trustee	0%
Sign the trustee declaration	0%
Record identification details	0%

Check your SMSF is an Australian super fund

2 mins

Check your SMSF is an Australian super fund	0%
Activity	0%

Create a trust deed

2 mins

Create a trust deed	0%
Requirements of a trust deed	0%
Activity: SMSF packages or kits	0%

Hold assets

2 mins

Assigning assets	0%
The ownership of your fund’s assets	0%
Holding fund assets	0%

Register your SMSF

3 mins

Registering your SMSF	0%
ABN and TFN registrations	0%
Registration application delays	0%
GST	0%
After you register your SMSF	0%

Set up a bank account

2 mins

Setting up a unique bank account for the fund	0%
Information you need to open the bank account	0%
Activity	0%

Get an electronic service address

1 mins

Electronic service address	0%

Create an investment strategy

2 mins

Create an investment strategy	0%
Investment strategy format	0%
Activity	0%

Plan for the future

1 mins

Member and fund insurance	0%
Death benefit nominations	0%

Prepare an exit plan

2 mins

Prepare an exit plan	0%
What to include in the exit plan?	0%
Regularly review the exit plan	0%

Record-keeping requirements

2 mins

Keeping good records	0%
Keep accurate records	0%

Notify the ATO and ASIC of changes

2 mins

Keep your fund details up to date	0%
Notify the ATO and ASIC of changes	0%

Consider professional advice

2 mins

How a professional can help you	0%
Activity	0%

Help and more information

3 mins

How your SMSF is regulated	0%
ATO	0%
ASIC	0%
SMSF support services	0%
Phoning the ATO	0%
Activity	0%

Related courses

1 mins

Related courses	0%

Course Feedback

Course Feedback	0%