How do I setup a Self Managed Superannuation Fund?
UHY Haines Norton, with the assistance of a recommended solicitor, can assist in setting up a fund. We also recommend you obtain financial planning advice. Generally we do not believe it is economic to set up a SMSF unless there is a minimum of $250,000 in the fund.
Steps in setting up a Self Managed Superannuation Fund?
- Preparation of a trust deed to form the fund and appoint trustees and members.
- Setting up a bank account for the fund or overseas pension fund.
- Transfer of cash to the fund bank account.
- Preparation of an investment strategy.
- Make investments in line with your investment strategy.
- Arrangement of annual financial statements to be prepared and audited and relevant returns to be submitted to the ATO.