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Getting Started

Once the decision has been made to proceed with an SMSF, the actual establishment doesn’t have to be difficult. Professionals such as financial advisers, accountants and solicitors who specialise in this field are available to assist trustees with the necessary processes.

Setting up an SMSF

There are a number of steps you need to take in order to get your SMSF up and running.

Key procedures include:

  1. Obtain a Trust Deed
  2. Appoint the Trustees
  3. Elect to be regulated by the ATO
  4. Identify the members
  5. Apply for a Tax File Number for the SMSF, an ABN (if applicable) and/or GST registration (if applicable).
  6. Prepare an investment strategy
  7. Open a bank account
  8. Arrange appropriate wealth protection cover for all members
  9. Transfer existing super accounts

Preparing an investment strategy

Trustees are required to prepare and implement an investment strategy for the SMSF.

View our section on investment options and investment restrictions.

More information

If you're interested in finding out more, contact your Morgans adviser or a Morgans office near you.

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