Setting up a SMSF

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Setting up a Self-Managed Superannuation Fund (“SMSF”)


The following is a basic step by step procedure of how to set up an SMSF:

  1. Firstly, a trust deed must be prepared establishing the fund and outlining its rules and obligations.
  2. A Trustee(s) must be appointed to the trust which must either be prospective members of the fund or directors of the trustee company.
  3. Applications for membership must be obtained from each member of the fund;
  4. A trustee declaration is then to be completed by all trustees within 21 days of their appointment.
  5. The trustee(s) must then elect for the fund to become a regulated superannuation fund
  6. An ABN and a Tax File Number must be applied for
  7. Death benefit nominations are to be obtained from all members.
  8. A Product Disclosure Statement (PDS) is to be prepared and provided to each member of the fund.

There is a lengthy and what can be arduous process involved behind each of these steps. Auditing of the establishment process occurs by the ATO and therefore it is important that the fund is compliant with the applicable laws and statutes.

The team at Ferguson Cannon Lawyers is able to guide you through these processes efficiently and prepare all documentation required. We focus on establishing a SMSF that is tailored to your needs, which maximizes your freedom to borrow and invest, and to assist you to your achieve wealth creation objectives.

Please contact Byron Cannon or Sam Barber on 07 5443 6600 to discuss all your SMSF needs.

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Category: Business & Corporate Services, Fact Finders, General, SMSF, superannuation

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