{"id":43,"date":"2022-10-31T04:31:27","date_gmt":"2022-10-31T04:31:27","guid":{"rendered":"https:\/\/shelfcom.com.au\/?page_id=43"},"modified":"2026-07-02T10:39:03","modified_gmt":"2026-07-02T00:09:03","slug":"super-funds","status":"publish","type":"page","link":"https:\/\/shelfcom.com.au\/?page_id=43","title":{"rendered":"Super Funds"},"content":{"rendered":"\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-8f761849 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:66.66%\">\n<p class=\"wp-block-paragraph\">The demand for greater flexibility and control over retirement savings has increased the demand for privately managed super funds (SMSFs). Our solicitors expertly prepare our super funds; therefore, ensuring that your super fund complies with all the regulatory requirements governed by the Superannuation Industry (Supervision) Act (SIS).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">All self-managed super funds must have:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>A company corporate trustee or a minimum of two individuals acting as joint trustees,<\/li>\n\n\n\n<li>A minimum of one to a maximum of six members (subject to the legislative requirements of each State and Territory) and;<\/li>\n\n\n\n<li>Each member of the super fund must either be a director of the corporate trustee or an individual trustee.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Our super fund deed and compliance documents are prepared, and reviewed by our solicitors. To establish a self-managed super fund with Shelfcom follow these three easy steps:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Complete our one page <a href=\"https:\/\/shelfcom.com.au\/wp-content\/uploads\/2023\/06\/Super-Fund-Order-Form.pdf\"><strong>order form<\/strong><\/a>.<\/li>\n\n\n\n<li>Please review and email your order including your preferred method of payment to <a href=\"mailto:admin@shelfcom.com.au\" target=\"_blank\" rel=\"noreferrer noopener\">admin@shelfcom.com.au<\/a><\/li>\n\n\n\n<li>Our solicitors will prepare and review the super fund deed and compliance documents before these are emailed to you and if requested bound and posted to you for signing.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Our superior service means that we are here to assist you, please contact us if you have any queries<\/strong>.<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-vertically-aligned-top is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33.33%\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"200\" height=\"60\" src=\"https:\/\/shelfcom.com.au\/wp-content\/uploads\/2022\/11\/Set-Up-A-Company-btn-v2.png\" alt=\"\" class=\"wp-image-261\"\/><\/figure>\n<\/div>\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"200\" height=\"60\" src=\"https:\/\/shelfcom.com.au\/wp-content\/uploads\/2022\/11\/Set-Up-A-Trust-btn-v2.png\" alt=\"\" class=\"wp-image-264\"\/><\/figure>\n<\/div>\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a94b3929c2c5&quot;}\" data-wp-interactive=\"core\/image\" data-wp-key=\"6a94b3929c2c5\" class=\"aligncenter size-full wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"200\" height=\"60\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on--click=\"actions.showLightbox\" data-wp-on--load=\"callbacks.setButtonStyles\" data-wp-on--pointerdown=\"actions.preloadImage\" data-wp-on--pointerenter=\"actions.preloadImageWithDelay\" data-wp-on--pointerleave=\"actions.cancelPreload\" data-wp-on-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/shelfcom.com.au\/wp-content\/uploads\/2022\/11\/Set-Up-A-Super-Fund-btn-v2.png\" alt=\"\" class=\"wp-image-263\"\/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\tdata-wp-bind--aria-label=\"state.thisImage.triggerButtonAriaLabel\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.thisImage.buttonRight\"\n\t\t\tdata-wp-style--top=\"state.thisImage.buttonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><\/figure>\n<\/div>\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><a href=\"https:\/\/shelfcom.com.au\/?page_id=45\" target=\"_blank\" rel=\"noreferrer noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"200\" height=\"60\" src=\"https:\/\/shelfcom.com.au\/wp-content\/uploads\/2022\/11\/Other-Services-btn-v2.png\" alt=\"\" class=\"wp-image-462\"\/><\/a><\/figure>\n<\/div>\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><a href=\"https:\/\/connectonline.asic.gov.au\/RegistrySearch\/faces\/landing\/NameAvail.jspx?_adf.ctrl-state=11qtplqkcf_4\" target=\"_blank\" rel=\"noreferrer noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"200\" height=\"60\" src=\"https:\/\/shelfcom.com.au\/wp-content\/uploads\/2022\/11\/Company-Search-btn-v3.png\" alt=\"\" class=\"wp-image-490\"\/><\/a><\/figure>\n<\/div><\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading has-vk-color-primary-color has-text-color\">Frequently Asked Questions<\/h2>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-8f761849 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\"><div id=\"accordions-387\" class=\"accordions-387 accordions\" data-accordions={&quot;lazyLoad&quot;:true,&quot;id&quot;:&quot;387&quot;,&quot;event&quot;:&quot;click&quot;,&quot;collapsible&quot;:&quot;true&quot;,&quot;heightStyle&quot;:&quot;content&quot;,&quot;animateStyle&quot;:&quot;swing&quot;,&quot;animateDelay&quot;:1000,&quot;navigation&quot;:true,&quot;active&quot;:999,&quot;expandedOther&quot;:&quot;no&quot;}>\r\n                <div id=\"accordions-lazy-387\" class=\"accordions-lazy\" accordionsId=\"387\">\r\n                    <\/div>\r\n\r\n    <div class=\"items\"  style=\"display:none\" >\r\n    \r\n            <div post_id=\"387\" itemcount=\"0\"  header_id=\"header-1667448859183\" id=\"header-1667448859183\" style=\"\" class=\"accordions-head head1667448859183 border-semi-round\" toggle-text=\"\" main-text=\"How much does it cost to set up a Self-Managed Super Fund (SMSF)?\">\r\n                                    <span id=\"accordion-icons-1667448859183\" class=\"accordion-icons\">\r\n                        <span class=\"accordion-icon-active accordion-plus\"><i class=\"fa-solid fa-circle-question\"><\/i><\/span>\r\n                        <span class=\"accordion-icon-inactive accordion-minus\"><i class=\"fa-solid fa-circle-question\"><\/i><\/span>\r\n                    <\/span>\r\n                    <span id=\"header-text-1667448859183\" class=\"accordions-head-title\">How much does it cost to set up a Self-Managed Super Fund (SMSF)?<\/span>\r\n                            <\/div>\r\n            <div class=\"accordion-content content1667448859183 \">\r\n                <p><!-- wp:paragraph --><\/p>\n<p>Our fee for the establishment of your super fund is $POA. This includes; the preparation of your super fund deed and accompanying documents, all of these documents are professionally bound, and presented to you in your own SMSF folder, upon your request we provide stamping with Revenue SA at no extra charge, and a PDF copy of your deed.<\/p>\n<p>This is an all-inclusive fee, which means you pay just the one price for our service. We are a highly service orientated company and encourage you to contact us at any time.<\/p>\n<p><!-- \/wp:paragraph --><\/p>\n            <\/div>\r\n    \r\n            <div post_id=\"387\" itemcount=\"1\"  header_id=\"header-1667448924413\" id=\"header-1667448924413\" style=\"\" class=\"accordions-head head1667448924413 border-semi-round\" toggle-text=\"\" main-text=\"How long does it take to set up an SMSF?\">\r\n                                    <span id=\"accordion-icons-1667448924413\" class=\"accordion-icons\">\r\n                        <span class=\"accordion-icon-active accordion-plus\"><i class=\"fa-solid fa-circle-question\"><\/i><\/span>\r\n                        <span class=\"accordion-icon-inactive accordion-minus\"><i class=\"fa-solid fa-circle-question\"><\/i><\/span>\r\n                    <\/span>\r\n                    <span id=\"header-text-1667448924413\" class=\"accordions-head-title\">How long does it take to set up an SMSF?<\/span>\r\n                            <\/div>\r\n            <div class=\"accordion-content content1667448924413 \">\r\n                <p>Please contact our office to discuss the timeframe for completing these documents based on your specific circumstances.<\/p>\n            <\/div>\r\n    \r\n            <div post_id=\"387\" itemcount=\"2\"  header_id=\"header-1667862084456\" id=\"header-1667862084456\" style=\"\" class=\"accordions-head head1667862084456 border-semi-round\" toggle-text=\"\" main-text=\"How do I order a SMSF through Shelfcom and what is the process?\">\r\n                                    <span id=\"accordion-icons-1667862084456\" class=\"accordion-icons\">\r\n                        <span class=\"accordion-icon-active accordion-plus\"><i class=\"fa-solid fa-circle-question\"><\/i><\/span>\r\n                        <span class=\"accordion-icon-inactive accordion-minus\"><i class=\"fa-solid fa-circle-question\"><\/i><\/span>\r\n                    <\/span>\r\n                    <span id=\"header-text-1667862084456\" class=\"accordions-head-title\">How do I order a SMSF through Shelfcom and what is the process?<\/span>\r\n                            <\/div>\r\n            <div class=\"accordion-content content1667862084456 \">\r\n                <p>To order your Self-Managed Super Fund, simply <strong><a href=\"https:\/\/shelfcom.com.au\/wp-content\/uploads\/2025\/07\/Super-Fund-Order-Form.pdf\">click here<\/a>\u00a0to<\/strong> download our order form, complete and email this form to <a href=\"mailto:admin@shelfcom.com.au\">admin@shelfcom.com.au<\/a><\/p>\n<p>Once we receive your instructions, we review the information that you have provided to us and if we have any queries or require further information, we will contact you as soon as possible. We then prepare your super fund deed and documents, and these are usually emailed to you within 24 hours of receiving your instructions and can be couriered or express posted at your request.<\/p>\n<p>Our super fund deeds can also be tailored to suit your specific situation. Please contact us if you have any special requirements and our solicitors will liaise with you directly.<\/p>\n            <\/div>\r\n    \r\n            <div post_id=\"387\" itemcount=\"3\"  header_id=\"header-1667862110936\" id=\"header-1667862110936\" style=\"\" class=\"accordions-head head1667862110936 border-semi-round\" toggle-text=\"\" main-text=\"What is the difference between a Self-Managed Super Fund (SMSF) and other regulated super funds?\">\r\n                                    <span id=\"accordion-icons-1667862110936\" class=\"accordion-icons\">\r\n                        <span class=\"accordion-icon-active accordion-plus\"><i class=\"fa-solid fa-circle-question\"><\/i><\/span>\r\n                        <span class=\"accordion-icon-inactive accordion-minus\"><i class=\"fa-solid fa-circle-question\"><\/i><\/span>\r\n                    <\/span>\r\n                    <span id=\"header-text-1667862110936\" class=\"accordions-head-title\">What is the difference between a Self-Managed Super Fund (SMSF) and other regulated super funds?<\/span>\r\n                            <\/div>\r\n            <div class=\"accordion-content content1667862110936 \">\r\n                <p>The difference between both is that generally the members of an SMSF are also the trustees. They control the investments of their SMSF and the payment of their benefits.<\/p>\n            <\/div>\r\n    \r\n            <div post_id=\"387\" itemcount=\"4\"  header_id=\"header-1667862132216\" id=\"header-1667862132216\" style=\"\" class=\"accordions-head head1667862132216 border-semi-round\" toggle-text=\"\" main-text=\" Can I set up an SMSF with individual trustees?\">\r\n                                    <span id=\"accordion-icons-1667862132216\" class=\"accordion-icons\">\r\n                        <span class=\"accordion-icon-active accordion-plus\"><i class=\"fa-solid fa-circle-question\"><\/i><\/span>\r\n                        <span class=\"accordion-icon-inactive accordion-minus\"><i class=\"fa-solid fa-circle-question\"><\/i><\/span>\r\n                    <\/span>\r\n                    <span id=\"header-text-1667862132216\" class=\"accordions-head-title\"> Can I set up an SMSF with individual trustees?<\/span>\r\n                            <\/div>\r\n            <div class=\"accordion-content content1667862132216 \">\r\n                <p>You can, and the individuals named as members need to be trustees and all trustees need to be members. The only exception is for sole member super funds.<\/p>\n<p>The super law also requires; that no member is an employee of another member unless they are related, and no trustee is paid for their duties or services as a trustee.<\/p>\n            <\/div>\r\n    \r\n            <div post_id=\"387\" itemcount=\"5\"  header_id=\"header-1667862152016\" id=\"header-1667862152016\" style=\"\" class=\"accordions-head head1667862152016 border-semi-round\" toggle-text=\"\" main-text=\"Can I set up an SMSF with a corporate trustee?\">\r\n                                    <span id=\"accordion-icons-1667862152016\" class=\"accordion-icons\">\r\n                        <span class=\"accordion-icon-active accordion-plus\"><i class=\"fa-solid fa-circle-question\"><\/i><\/span>\r\n                        <span class=\"accordion-icon-inactive accordion-minus\"><i class=\"fa-solid fa-circle-question\"><\/i><\/span>\r\n                    <\/span>\r\n                    <span id=\"header-text-1667862152016\" class=\"accordions-head-title\">Can I set up an SMSF with a corporate trustee?<\/span>\r\n                            <\/div>\r\n            <div class=\"accordion-content content1667862152016 \">\r\n                <p>SMSFs are more commonly set up with a corporate trustee. When setting up your SMSF with a corporate trustee, each member of the fund needs to be a director of the corporate trustee and each director needs to be a member. The only exception is for sole member super funds.<\/p>\n<p>The same super law rules apply; that no member is an employee of another member unless they are related, and no trustee is paid for their duties or services as a trustee.<\/p>\n            <\/div>\r\n    \r\n            <div post_id=\"387\" itemcount=\"6\"  header_id=\"header-1667862169513\" id=\"header-1667862169513\" style=\"\" class=\"accordions-head head1667862169513 border-semi-round\" toggle-text=\"\" main-text=\"Can I set up an SMSF with only one member?\">\r\n                                    <span id=\"accordion-icons-1667862169513\" class=\"accordion-icons\">\r\n                        <span class=\"accordion-icon-active accordion-plus\"><i class=\"fa-solid fa-circle-question\"><\/i><\/span>\r\n                        <span class=\"accordion-icon-inactive accordion-minus\"><i class=\"fa-solid fa-circle-question\"><\/i><\/span>\r\n                    <\/span>\r\n                    <span id=\"header-text-1667862169513\" class=\"accordions-head-title\">Can I set up an SMSF with only one member?<\/span>\r\n                            <\/div>\r\n            <div class=\"accordion-content content1667862169513 \">\r\n                <p>It is possible for you to set up your super fund with only one member; however, the trustee needs to be either a corporate trustee or two individuals.<\/p>\n<p>If you have a single member super fund that has a corporate trustee, then the member must be a director of the company. In this scenario, the corporate trustee can be setup with a maximum of two directors only.<\/p>\n<p>If you have two individuals as trustees, then only one of these trustees needs to be a member. The requirement is that you must have two individuals as trustees if choosing this option.<\/p>\n<p>The same super law rules apply; that no member is an employee of another member unless they are related, and no trustee is paid for their duties or services as a trustee.<\/p>\n            <\/div>\r\n    \r\n            <div post_id=\"387\" itemcount=\"7\"  header_id=\"header-1667862188105\" id=\"header-1667862188105\" style=\"\" class=\"accordions-head head1667862188105 border-semi-round\" toggle-text=\"\" main-text=\"What is the maximum number of members that I can have for my SMSF?\">\r\n                                    <span id=\"accordion-icons-1667862188105\" class=\"accordion-icons\">\r\n                        <span class=\"accordion-icon-active accordion-plus\"><i class=\"fa-solid fa-circle-question\"><\/i><\/span>\r\n                        <span class=\"accordion-icon-inactive accordion-minus\"><i class=\"fa-solid fa-circle-question\"><\/i><\/span>\r\n                    <\/span>\r\n                    <span id=\"header-text-1667862188105\" class=\"accordions-head-title\">What is the maximum number of members that I can have for my SMSF?<\/span>\r\n                            <\/div>\r\n            <div class=\"accordion-content content1667862188105 \">\r\n                <p>The maximum number of members that you can have is six (but this is subject to the legislative requirements of each State or Territory).<\/p>\n            <\/div>\r\n    \r\n            <div post_id=\"387\" itemcount=\"8\"  header_id=\"header-1667862206324\" id=\"header-1667862206324\" style=\"\" class=\"accordions-head head1667862206324 border-semi-round\" toggle-text=\"\" main-text=\"What are some of the advantages of having a corporate trustee?\">\r\n                                    <span id=\"accordion-icons-1667862206324\" class=\"accordion-icons\">\r\n                        <span class=\"accordion-icon-active accordion-plus\"><i class=\"fa-solid fa-circle-question\"><\/i><\/span>\r\n                        <span class=\"accordion-icon-inactive accordion-minus\"><i class=\"fa-solid fa-circle-question\"><\/i><\/span>\r\n                    <\/span>\r\n                    <span id=\"header-text-1667862206324\" class=\"accordions-head-title\">What are some of the advantages of having a corporate trustee?<\/span>\r\n                            <\/div>\r\n            <div class=\"accordion-content content1667862206324 \">\r\n                <ul>\n<li>You can have an SMSF where one individual is both the sole member and the sole director.<\/li>\n<li>Continuous succession in the circumstances of the death or incapacity of a member or trustee and this allows for flexibility in estate planning matters.<\/li>\n<li>Greater administrative efficiency.<\/li>\n<li>Asset protection.<\/li>\n<\/ul>\n            <\/div>\r\n    \r\n            <div post_id=\"387\" itemcount=\"9\"  header_id=\"header-1667862237881\" id=\"header-1667862237881\" style=\"\" class=\"accordions-head head1667862237881 border-semi-round\" toggle-text=\"\" main-text=\"What are my obligations as a trustee of an SMSF?\">\r\n                                    <span id=\"accordion-icons-1667862237881\" class=\"accordion-icons\">\r\n                        <span class=\"accordion-icon-active accordion-plus\"><i class=\"fa-solid fa-circle-question\"><\/i><\/span>\r\n                        <span class=\"accordion-icon-inactive accordion-minus\"><i class=\"fa-solid fa-circle-question\"><\/i><\/span>\r\n                    <\/span>\r\n                    <span id=\"header-text-1667862237881\" class=\"accordions-head-title\">What are my obligations as a trustee of an SMSF?<\/span>\r\n                            <\/div>\r\n            <div class=\"accordion-content content1667862237881 \">\r\n                <p>As a trustee of an SMSF, you need to:<\/p>\n<ul>\n<li>Act honestly and in the best interests of all members at all times.<\/li>\n<li>Be in control and exercise skill and diligence in managing your fund.<\/li>\n<li>Keep the assets and money of your super fund separate to your personal assets and money.<\/li>\n<li>Develop, implement, and regularly review an investment strategy.<\/li>\n<li>Consider insurance options for members.<\/li>\n<li>Do not allow access to funds early.<\/li>\n<\/ul>\n<p>As an SMSF trustee you are ultimately responsible for the running your super fund. It is important that you understand your responsibilities, in accordance with the law and governing rules imposed, as outlined in the trust deed of your super fund.<\/p>\n<p>We do provide you with some information booklets and as a further resource; you can download more information from the Australian Taxation Office website by clicking<strong> <a href=\"https:\/\/www.ato.gov.au\/Super\/Self-managed-super-funds\/\" target=\"_blank\" rel=\"noopener\">here<\/a>.<\/strong><\/p>\n            <\/div>\r\n    \r\n            <div post_id=\"387\" itemcount=\"10\"  header_id=\"header-1667862288962\" id=\"header-1667862288962\" style=\"\" class=\"accordions-head head1667862288962 border-semi-round\" toggle-text=\"\" main-text=\"What is the sole purpose test requirement for an SMSF?\">\r\n                                    <span id=\"accordion-icons-1667862288962\" class=\"accordion-icons\">\r\n                        <span class=\"accordion-icon-active accordion-plus\"><i class=\"fa-solid fa-circle-question\"><\/i><\/span>\r\n                        <span class=\"accordion-icon-inactive accordion-minus\"><i class=\"fa-solid fa-circle-question\"><\/i><\/span>\r\n                    <\/span>\r\n                    <span id=\"header-text-1667862288962\" class=\"accordions-head-title\">What is the sole purpose test requirement for an SMSF?<\/span>\r\n                            <\/div>\r\n            <div class=\"accordion-content content1667862288962 \">\r\n                <p>Your SMSF must meet the sole purpose test. This means that your super fund must be; maintained for the sole purpose of providing retirement benefits to your members, or to their dependants if a member dies before retirement.<\/p>\n<p>It is the trustees\u2019 responsibility to ensure that their SMSF complies with the sole purpose test at all times; including, when investing fund assets, paying benefits upon retirement of members, and to also be eligible for the tax concessions available.<\/p>\n            <\/div>\r\n    \r\n            <div post_id=\"387\" itemcount=\"11\"  header_id=\"header-1667862308993\" id=\"header-1667862308993\" style=\"\" class=\"accordions-head head1667862308993 border-semi-round\" toggle-text=\"\" main-text=\"Can you give me advice on how to set up my SMSF?\">\r\n                                    <span id=\"accordion-icons-1667862308993\" class=\"accordion-icons\">\r\n                        <span class=\"accordion-icon-active accordion-plus\"><i class=\"fa-solid fa-circle-question\"><\/i><\/span>\r\n                        <span class=\"accordion-icon-inactive accordion-minus\"><i class=\"fa-solid fa-circle-question\"><\/i><\/span>\r\n                    <\/span>\r\n                    <span id=\"header-text-1667862308993\" class=\"accordions-head-title\">Can you give me advice on how to set up my SMSF?<\/span>\r\n                            <\/div>\r\n            <div class=\"accordion-content content1667862308993 \">\r\n                <p>Unfortunately, Shelfcom cannot give you advice on how to set up your SMSF. If you are unsure and do need further advice, we highly recommend that you speak to your accountant before proceeding.<\/p>\n<p>If you do not currently have an accountant, please ask us and we can refer you to one depending on where you are located.<\/p>\n            <\/div>\r\n    \r\n            <div post_id=\"387\" itemcount=\"12\"  header_id=\"header-1667862333825\" id=\"header-1667862333825\" style=\"\" class=\"accordions-head head1667862333825 border-semi-round\" toggle-text=\"\" main-text=\"Does an SMSF need to have an Australian Business Number and Tax File Number?\">\r\n                                    <span id=\"accordion-icons-1667862333825\" class=\"accordion-icons\">\r\n                        <span class=\"accordion-icon-active accordion-plus\"><i class=\"fa-solid fa-circle-question\"><\/i><\/span>\r\n                        <span class=\"accordion-icon-inactive accordion-minus\"><i class=\"fa-solid fa-circle-question\"><\/i><\/span>\r\n                    <\/span>\r\n                    <span id=\"header-text-1667862333825\" class=\"accordions-head-title\">Does an SMSF need to have an Australian Business Number and Tax File Number?<\/span>\r\n                            <\/div>\r\n            <div class=\"accordion-content content1667862333825 \">\r\n                <p>Once the documents have been signed, it is the trustees\u2019 responsibility to arrange or apply for an ABN and TFN and therefore electing that the super fund will be a regulated superannuation fund. This can be done on-line <a href=\"https:\/\/abr.gov.au\/\" target=\"_blank\" rel=\"noopener\"><strong>here<\/strong><\/a>. You should also seek advice from your accountant about whether your super fund should register for GST.<\/p>\n<p>Unless the trustee elects for the super fund to be a regulated superannuation fund within 60 days of the commencement date, the super fund may not be entitled to tax concessions as a complying superannuation fund for the remainder of the current income year.<\/p>\n            <\/div>\r\n    \r\n            <div post_id=\"387\" itemcount=\"13\"  header_id=\"header-1667862362507\" id=\"header-1667862362507\" style=\"\" class=\"accordions-head head1667862362507 border-semi-round\" toggle-text=\"\" main-text=\"How often is your super fund deed updated?\">\r\n                                    <span id=\"accordion-icons-1667862362507\" class=\"accordion-icons\">\r\n                        <span class=\"accordion-icon-active accordion-plus\"><i class=\"fa-solid fa-circle-question\"><\/i><\/span>\r\n                        <span class=\"accordion-icon-inactive accordion-minus\"><i class=\"fa-solid fa-circle-question\"><\/i><\/span>\r\n                    <\/span>\r\n                    <span id=\"header-text-1667862362507\" class=\"accordions-head-title\">How often is your super fund deed updated?<\/span>\r\n                            <\/div>\r\n            <div class=\"accordion-content content1667862362507 \">\r\n                <p>Rest assured that our solicitors regularly review and update our super fund deeds so these comply with changes made to the legislation.<\/p>\n            <\/div>\r\n    \r\n            <div post_id=\"387\" itemcount=\"14\"  header_id=\"header-1667862382530\" id=\"header-1667862382530\" style=\"\" class=\"accordions-head head1667862382530 border-semi-round\" toggle-text=\"\" main-text=\"Our SMSF was set up over ten years ago, can and should we update our super fund deed to allow for changes that have been made to the legislation?\">\r\n                                    <span id=\"accordion-icons-1667862382530\" class=\"accordion-icons\">\r\n                        <span class=\"accordion-icon-active accordion-plus\"><i class=\"fa-solid fa-circle-question\"><\/i><\/span>\r\n                        <span class=\"accordion-icon-inactive accordion-minus\"><i class=\"fa-solid fa-circle-question\"><\/i><\/span>\r\n                    <\/span>\r\n                    <span id=\"header-text-1667862382530\" class=\"accordions-head-title\">Our SMSF was set up over ten years ago, can and should we update our super fund deed to allow for changes that have been made to the legislation?<\/span>\r\n                            <\/div>\r\n            <div class=\"accordion-content content1667862382530 \">\r\n                <p>We highly recommend that you contact us so you can speak to one of our solicitors concerning your particular situation. In most cases, it would be advisable that your super fund adopts a new deed adhering to the most current changes in legislation.<\/p>\n            <\/div>\r\n    <\/div>\r\n\r\n\r\n\r\n            <\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The demand for greater flexibility and control over retirement savings has increased the demand for privately managed super funds (SMSFs). Our solicitors expertly prepare our super funds; therefore, ensuring that your super fund complies with all the regulatory requirements governed by the Superannuation Industry (Supervision) Act (SIS). All self-managed super funds must have: Our super [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"sns_share_botton_hide":"","vkExUnit_sns_title":"","_vk_print_noindex":"","sitemap_hide":"","vkExUnit_sitemap":"","_veu_custom_css":"","veu_display_promotion_alert":"common","_exclude_from_list_pages":"","vkexunit_cta_each_option":"","vkExUnit_childPageIndex":"","vkExUnit_pageList_ancestor":"","vkExUnit_contact_enable":"","_lightning_design_setting":{"layout":"col-one-no-subsection"},"footnotes":""},"class_list":["post-43","page","type-page","status-publish","hentry"],"veu_head_title_object":{"title":"","add_site_title":""},"_links":{"self":[{"href":"https:\/\/shelfcom.com.au\/index.php?rest_route=\/wp\/v2\/pages\/43","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/shelfcom.com.au\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/shelfcom.com.au\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/shelfcom.com.au\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/shelfcom.com.au\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=43"}],"version-history":[{"count":26,"href":"https:\/\/shelfcom.com.au\/index.php?rest_route=\/wp\/v2\/pages\/43\/revisions"}],"predecessor-version":[{"id":878,"href":"https:\/\/shelfcom.com.au\/index.php?rest_route=\/wp\/v2\/pages\/43\/revisions\/878"}],"wp:attachment":[{"href":"https:\/\/shelfcom.com.au\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=43"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}