There are a few steps that need to be completed to set up your SMSF.

  1. Confirm that you have independently made the decision to establish an SMSF and understand the importance of seeking professional advice by a licensed adviser on the appropriateness of an SMSF.
  2. Next, you need to decide on the structure of your SMSF, which will either be an individual or corporate trustee structure. Read more here.
  3. Once you’ve decided on the SMSF structure you can complete an SMSF application here. Please have your tax file number handy. The application only takes a couple of minutes.
  4. Our trusted SMSF partner, Heffron, will call you to confirm your details, before getting your fund registered with the ATO and established.
  5. You will receive a copy of your fund’s tax file number, ABN and trust deed, once set up.
  6. As part of the SMSF set-up, Heffron will also establish a Macquarie Cash Management Account for you.
  7. If you are closing down your current super fund, you may lose any insurance you have through that fund. Therefore, it’s important to consider if you need to take out separate cover. Read more here.
  8. A key component of your SMSF documentation is your investment strategy so it’s a good idea to think about this strategy at the start of the process. To learn more about formulating an investment strategy, click here.