A checklist for setting up your SMSF

A checklist for setting up your SMSF


Setting up an SMSF can be complex, which is why a checklist is useful to streamline your process. Before you set up your SMSF, first determine if having an SMSF is a commercially viable option.

Once a decision is reached and you are about to start your SMSF, here are the basic steps to get things started:

  • Determine which members will be in your fund?
  • Decide if you will you seek professional help to assist your set up?
  • Decide whether the fund should have individual trustees or a corporate trustee
  • Establish a suitable trust and trust deed
  • Register your fund with the ATO
  • Set up a bank account
  • Prepare an exit strategy
  • Get an electronic service address so the fund can receive contributions from employers
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If you believe the matters discussed above are relevant to your business, please contact Darren Smith of our office to discuss further.


Darren is a Chartered Accountant with extensive experience, including working in the big 4 and medium sized firms before becoming a partner of a city based firm in 2000.

He has gained much experience and has extensive knowledge in providing business and taxation advice, superannuation planning, negotiation of sales and acquisitions of businesses and property development. His client base covers a wide range of industry groups.

Darren works with business owners to grow their businesses and create personal wealth within and outside of their business.


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