SMSF setup and accounting made simple
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You’re in charge of your SMSF
You make all the investment decisions for the fund, and you’re held responsible for complying with the super and tax laws. An SMSF must be run for the sole purpose of providing retirement benefits for the members or their dependents and all decisions you make as trustee of your SMSF must be in the best financial interests of the members (Up to 4 immediate family members are allowed in your SMSF- see pricing page for additional member costs) All members share equal responsibility and an equal proportion of the fund. However, the fund is deemed as one entity.
Key Responsibilities
Please ensure you understand your responsibilities and penalties for non-compliance and understand if you are eligible to run an SMSF and satisfy the residency rules before proceeding. Learn more from the ATO website here.
No Personal Use
At no stage can you use these funds for personal use. All funds are only accessible at retirement age. (Check out the ATO website to see when you can access your super). Additionally, all SMSF bank accounts must be kept separate from your personal bank accounts. Any mixing of funds may result in government fines. Don’t worry, we will guide you through the process to set up your own SMSF bank accounts, trading accounts etc… we got you!
Our Financial Partners
Only bank and trade with our approved providers.
Banks: NAB, Commonwealth Bank, Westpac & ANZ
Crypto: Coinspot*
To make it easy at tax time we just require a “read only” access to SMSF accounts via API or data feed where available.
Borrowing, Leveraging and Shorting
SMSF funds do not permit you to borrow, leverage or short any assets within the fund. This can result in a government fine. However, you can borrow funds to purchase property in an SMSF.
Privacy Coins
You can purchase privacy coins on approved exchanges, but they need to always remain on the exchange. This is due to auditors not being able to verify the location of the coins come tax time.
Staking Coins
Good news! You can stake coins with your SMSF. Additional staking fee $50 per destination address of each coin. Staking rewards on the relevant blockchain must be visible.
SMSF Transactions Per Year
Our accounting fee allows for a set number of transactions within the fund per financial year. This varies depending on the asset class mix. The fee also covers your tax returns, auditing and compliance. Contact us to find out more.
Contributions Tax
Any contributions to your SMSF made by you or your employer are taxed at 15% and added to your tax bill when you complete your tax return.
Insurances
Life insurance, income protection and TPD (total and permanent disability) can all be held in your new SMSF. However, if you would like to retain your insurances held in your retail superannuation fund, please ensure you keep a minimum balance (up to $5000) to keep these policies active.
Limited time onlyFREE SMSF
Save over $874
Use Code: FREESMSF
*Terms and Conditions apply, does not include ASIC fee
Frequently Asked Questions
How long does it take to set up the SMSF?
Getting a mortgage in Queensland mostly comes down to four key things:
- Your income and expenses – Lenders want to see that you earn enough to comfortably repay the loan. That includes your salary, any other income, and how much you spend each month.
- Your deposit – In most cases, you’ll need at least 5–20% of the property price saved as a deposit. A bigger deposit usually gives you better loan options.
- Your credit history – Lenders check your credit report to see if you’ve paid off debts reliably in the past. It doesn’t have to be perfect, but they want to know you’re consistent.
- Employment stability – Ideally, you’ve been in your current job for a while or have a steady income if you’re self-employed.
There are a few other factors, like any debts you have (like credit cards or personal loans), but those are the big ones.
If you’re not sure how your situation stacks up, we’re happy to have a chat. We’ll go through where you’re at and give you a clear picture of what’s possible.
How much a does new SMSF costs?
Do I need to close down my other superannuation account?
Do I need an accountant
Can I have multitple people involoved in my SMSF?
What is the tax rate for a SMSF?
Didn’t find your answer?
Book a Free Consultation
We provide a FREE 30 minute online SMSF consultation to help you discover how to set up a self managed super fund.
Book in a time for your free SMSF Consult with one of our account managers who will be happy to answer any queries you have about setting up your new SMSF
Phone Number1300 050 939
Email Addressinfo@newventurewealth.com.au