SMSF Setup

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SMSF Setup.

Setting up a self managed super fund (SMSF) can be a complex and time-consuming task. While there are many benefits associated with managing your own super, expertise is needed to prevent problems and maximise growth. Before you get started, it's important to understand all of the potential risks, benefits, and opportunities. From SMSF setup costs and application details to taxation requirements and investments, there are lots of issues to consider.

At WT Capital, our partners provide a complete solution for SMSF funds, including all aspects of administration, accounting, taxation, investment, compliance, and technical support. They combine advanced knowledge with vast industry experience to streamline all aspects of SMSF management.

What is an SMSF?

Sometimes called DIY super, a SMSF is a private super fund that you manage yourself. A SMSF provides investors with greater financial control and more investing opportunities than retail or industry super accounts. Standard superannuation products in Australia are extremely limited in terms of their flexibility and growth potential. SMSFs are rapidly growing in popularity across Australia, with nearly 600,000 funds hosting over 1.1 million SMSF members according to the Australian Taxation Office (ATO).

Is a SMSF the right decision for me?

Before you set up an SMSF, it's important to analyse your individual financial situation. While self managed funds can be very advantageous, they're not ideal for everyone. Before you look at how to set up a self managed super fund, you need to be sure you're making the right decision.

The following considerations are key:

  • First, you need to be honest with yourself about the time and resources you have available. If you don't have the knowledge or skills to manage your own fund, you'll need to work closely with an external provider.

  • Second, you must meet a financial threshold to make self-management a viable solution. You must ensure that you (and if applicable, your co-trustees) have adequate funds to make having a self managed super fund a viable option.

  • Third, it's essential to be clear about the benefits of a SMSF. While managing your own fund can be extremely rewarding, the advantages are not applicable to all people and financial situations.

“SMSFs are rapidly growing in popularity across Australia, with nearly 600,000 funds hosting over 1.1 million SMSF members according to the Australian Taxation Office (ATO).”

SMSF setup benefits and risks.

There are lots of advantages associated with running your own super fund, along with some challenges and risks. Before you look at SMSF setup solutions, it's important to review the following benefits and how they relate to your financial situation:

  • Greater control over investments

  • Wider choice of investment options

  • Ability to consolidate family or business finances

  • Increased borrowing capacity

  • Tax savings and control over tax events

  • Certainty over estate planning

The challenges and risks associated with setting up a SMSF include additional legal obligations, the need for greater financial resources, and potential exposure to riskier investments.

How to set up a self managed super fund.

Self managed super fund setup can be a complex and time-consuming process. To avoid mistakes, it's important to work with trusted financial experts. The SMSF setup process typically involves a few separate stages, from consultation and review to application, registration, and activation.

At WT Capital, our trusted partners offer complete self managed super fund setup based on the following services:

  • Initial consultation

  • Fund application

  • Detailed fund review

  • Account establishment

  • Financial statements

  • Taxation management

  • Financial audit

Once they’ve received your completed application, they will review your data and send you a starter pack to sign. They will register your fund with the ATO and provide you with comprehensive details for your records. Once your fund is established, they’ll open accounts, roll over your existing super, and help you to direct contributions. If you require administration services, financial management, or ongoing support, our financial experts are ready to help.

At WT Capital, we specialise in SMSF property investing. You can review your eligibility at our website, use our retirement calculator to check your financial health, or look at our case studies to examine our experience. If you need support or guidance, please contact WT Capital today.

Frequently Asked Questions.


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Any financial and legal advice offered by the Author of this website is of a general nature and may not be suitable for some people. No individual financial or legal needs or goals have been taken into account in the advice offered, you should always seek independent advice about specific financial and legal decisions. The Author of this website disclaims all and any responsibility or liability in respect of information detailed or omitted (or the consequences thereof) from this website or any other meetings held with the author