SMSF — Establishment
SMSF Setup
Establishing a Self Managed Super Fund correctly — trustee structure, trust deed, ATO registration, fund bank account, investment strategy, rollover, and the ongoing administration, audit and tax obligations that follow. Practical, compliance-led, written for trustees-to-be.
- Trustees-to-be
- Corporate trustee
- Trust deed
- Investment strategy
- Rollover
Self Managed Super Funds are not for everyone. SMSF rules are complex and trustees are personally responsible for compliance with superannuation, tax and investment laws. Establishing and running an SMSF involves trustee duties, ongoing administration, audit and reporting costs. Information on this page is general only — seek personal advice based on your circumstances before establishing or changing an SMSF strategy.
Scope of work
What an SMSF setup engagement actually delivers.
The end output is a regulated SMSF with documents in order, registrations complete, bank account live, and an ongoing compliance plan in place.
Structure
Corporate trustee vs individual trustees
Discussion of the trade-offs between a corporate trustee (Pty Ltd company) and individual trustees, with a documented recommendation based on your circumstances. Set-up of the corporate trustee company where chosen — ASIC registration, share allocation, director appointments.
Trust deed & resolutions
Signed deed · trustee minutes · member applications
Establishment of the trust through a signed trust deed from a reputable deed provider. Initial trustee resolutions, member applications, and consent to act as trustee — documented and filed.
ATO & ABN registration
ABN · TFN · regulated fund election
ABN and TFN applications. Election to be a regulated SMSF under the SIS Act so concessional tax rates apply. ATO trustee declarations signed by each trustee within the required 21-day window.
Bank account & investment strategy
Fund bank · documented strategy
Opening of the fund’s own bank account in the name of the trustee. Documented investment strategy covering risk, return, diversification, liquidity and insurance considerations — required from day one and reviewed annually.
Rollover
Existing super → SMSF
Rollover requests to existing industry, retail or other SMSFs. Tracking of rollover statements, contribution reporting and reconciliation of opening balances. Trustee responsible for confirming insurance status on the prior fund before any rollover is initiated.
Ongoing compliance plan
Annual return · audit · investment strategy review
Recurring SMSF compliance package handed over at the end of the setup: annual financials, SMSF annual return, independent audit coordination, contribution and pension reporting, and annual investment strategy review.
Considerations
Is an SMSF the right fit?
SMSFs are not for everyone. They suit some situations and not others. Personal financial product advice on the suitability of an SMSF should come from a licensed financial adviser; the points below are general considerations only.
Time and willingness to act as trustee
Trustees are personally responsible for compliance with the SIS Act and tax law. The role is not delegable. Trustees who do not have time to engage with strategy and decisions may be better served by an industry or retail fund.
Balance scale
Setup and ongoing administration carry costs (ASIC, deed, audit, accounting). Lower-balance funds typically pay a higher percentage of assets in costs than a comparable industry fund. Trustees should weigh this against the control benefits.
Investment intent
SMSFs make most sense where the trustee genuinely wants control of investment decisions — direct property, direct shares, specific managed funds — not where they would mirror what an industry fund already offers.
Risk awareness
Compliance breaches (in-house assets, related-party transactions, sole-purpose breaches, contribution-cap breaches) can result in significant penalties and tax consequences. Trustees should understand and accept that responsibility.
Process
From scoping call to regulated SMSF — typically 4–6 weeks.
A document-driven sequence with specific ATO and ASIC timing requirements at each step.
Scoping call
Understanding your circumstances, member structure, current super balances and reason for considering an SMSF. We confirm whether a licensed financial adviser referral is appropriate before establishment.
Structure decision
Corporate trustee or individual trustees, documented with a clear recommendation. Member structure confirmed. Where a corporate trustee is chosen, ASIC registration of the trustee company begins.
Trust deed & resolutions
Trust deed prepared by a reputable provider. Trustee resolutions, member applications, consent forms and ATO trustee declarations signed within the required 21-day window.
ATO registration
ABN and TFN applications. Election to be a regulated SMSF under SIS Act. The fund must be a regulated fund before concessional tax rates apply and before rollovers can be received.
Bank account & strategy
Fund bank account opened in the trustee name. Documented investment strategy covering risk, return, diversification, liquidity and insurance. Strategy reviewed annually thereafter.
Rollover & handover
Rollover requests submitted to existing super funds (member confirms insurance position first). Opening balances reconciled. Handover to ongoing SMSF compliance package — annual financials, return and audit.
Frequently asked questions
SMSF setup — common questions.
No. SMSFs suit members who want active control of their retirement savings, are willing to take on trustee responsibilities, have a balance large enough to make the ongoing administration and audit costs cost-effective, and are willing to spend time on compliance and strategy. For many people, an industry or retail fund is the right answer. The decision is a personal one that should be made with personal financial advice.
Related
Where this fits in the bigger picture
SMSF setup is the start of a multi-year compliance commitment. The connected pieces are ongoing SMSF accounting, the trustee individual return, and (where applicable) lending through the SMSF.
- SMSF
SMSF services overview
The full SMSF services scope — annual return, audit coordination, compliance and investment strategy review.
- Tax & Accounting
Accounting & tax services
Trustee individual returns and any related business returns — prepared alongside the SMSF annual return for cleaner reconciliation.
- Guide
How One Roof works
SMSF establishment scoped alongside accounting, tax and (where relevant) lending. Read how the engagement runs.
- SMSF
SMSF annual return & accounting
The recurring annual engagement that follows setup — financial statements, member statements, the SMSF annual return and audit coordination.
- SMSF
SMSF compliance & contribution rules
The year-round obligations — sole-purpose test, contribution caps, preservation, in-house assets and related-party rules. General information.
- SMSF
SMSF investment strategy review
Documenting and reviewing the strategy the SIS Regulations require — risk, return, diversification, liquidity and insurance.
- SMSF
SMSF audit coordination
How the mandatory independent audit by an ASIC-registered SMSF auditor is coordinated each year before lodgement.
- SMSF
SMSF pension phase & retirement
The accounting and compliance mechanics of moving a fund from accumulation to pension phase. General information only.
- Local
Get in touch
Book the scoping call. We confirm whether an SMSF is the right structure for your situation before any engagement.