Sinclair Wilson    |    Self-Managed Super Funds   -   How to set up your Self-Managed fund

The process of establishing your self-managed superfund is simple, but can be confronting. The experienced Sinclair Wilson team can guide you through the process.

The process is as follows:

1. Acquire a Trust Deed and complete and lodge all necessary documentation in relation to establishing a superannuation fund.

2. Appoint a trustee that can be a corporation or individuals. The trustee should be aware of their responsibilities, such as set out in the Australian Taxation Office documentation.

3. Set investment objectives and formulate a strategy for achieving those objectives, taking into account the age and needs of the members, cash flow, risk, return, diversification and liquidity.

4. Open a bank account.

5. Decide on initial contributions:

• Undeducted
• In-Specie
• Salary Sacrifice
• Transfers from other funds
• Employer contributions
• Spouse contributions
• C.G.T. Retirement Concessions