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Setting up a self-managed super fund is a one-off job. Running it is not. Once the fund is registered, money has to roll over from existing super accounts, the books have to be kept, and every year the accounts must be prepared, audited by an independent auditor and lodged with the ATO.
That is why the choice of setup firm matters beyond day one. The firm that drafts the paperwork is often the firm that ends up doing the yearly work too. This guide looks at five Wollongong options that publish both sides: the setup work and the ongoing work that follows.
A note on SMSF Australia
SMSF Australia runs its setup service fully online, so it is an option for trustees in Wollongong who do not need a local office. Its guide on how to set up an SMSF sets out a fixed fee of $2,000 + GST per fund. That fee includes the $636 ASIC fee for a corporate trustee, the trust deed and trustee constitution prepared by an in-house SMSF lawyer, binding death benefit nominations, an investment strategy template, the ATO registrations (ABN, TFN and regulation), an electronic service address, help to set up the fund bank account and a registered office for the first 12 months. On rollovers, the firm says: “we can prepare and submit rollover paperwork for any existing superannuation accounts.”
For the years that follow, annual packages start from $1,300 + GST, and that price includes the cost of the independent audit. SMSF Australia arranges the audit; it does not audit funds itself. There are no lock-in contracts.
1. Whatman Stratton Accounting
Whatman Stratton Accounting is a Wollongong practice that works with clients across Wollongong and the Illawarra. Its SMSF page describes support “from setup through to retirement”.
Setup work. The page lists “SMSF Setup – including ABN/TFN registration and obtaining a Statement of Advice”.
What comes after. Two items on the same list cover the years after registrat… Read More
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