Documentation Requirements

Permanent Records: SMSF Investment Strategy SMSF Binding Death Benefit Nomination (non-lapsing) Trustee Declaration of understanding duties and responsibilities Must be signed within 21 days of new fund setup Property title search from relevant government body for any property investments Pension Minutes Records to be held for at least 5 years: Accounting Records Annual financials and… Read More

Steps to start a new SMSF

The ATO provides a comprehensive guide to starting an SMSF. Decide on Trustees for the fund – Individuals or a Corporate Trustees Establish the trust and trust deed Appoint the trustees Register the fund Setup a bank account Obtain an electronic service address (in order to make contributions) Prepare an exit strategy It is highly… Read More