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

Requirements of a trust deed

Your trust deed must:

be prepared by someone competent to do so as it’s a legal document
be tailored to your fund, in order to help meet the objectives of the trustees
be signed and dated by all trustees
meet all the requirements of and be properly executed under the relevant laws, and
be regularly reviewed and updated so it meets all members’ needs and complies with new or revised super laws.

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%
Consider 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%