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SMSF

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I'm new

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How do i go about starting a SMSF so i can invest in property
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Most helpful response

ATO Certified Response

Community Support

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Hi @Danielhonman

 

Welcome to our Community.

 

There are a number of things that you need to do when setting up a self-managed super fund (SMSF) including appointing trustees, creating a trust deed and registering the SMSF with us.

 

@Li0 has suggested that you see an accountant. While it isn't a requirement to do that, many do. You can engage SMSF professionals to help you set up and run your fund. You may want to get them involved right from the start since the decisions you make at start-up can affect their ability to help you later on.

 

We have a great page about self-managed super funds on our website that has links to a number of important SMSF matters including setting up, contributions and rollovers, investing as well as administering and reporting.

 

If you are setting up a SMSF with the intention of investing in property, you need to ensure that it is in line with your fund's investment strategy and that it takes into account the various restrictions on investments.

 

You need to have the time and skills to manage your SMSF, and there are ongoing running costs. We strongly recommend that you consider the costs, time and skills before you get started.

 

Hope this helps.

 

Thanks,

 

ChrisR

2 REPLIES 2
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Enthusiast

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This a very complicated matter. It depends on many variables I suggest you see an accountant.
Highlighted

Most helpful response

ATO Certified Response

Community Support

Replies 0

Hi @Danielhonman

 

Welcome to our Community.

 

There are a number of things that you need to do when setting up a self-managed super fund (SMSF) including appointing trustees, creating a trust deed and registering the SMSF with us.

 

@Li0 has suggested that you see an accountant. While it isn't a requirement to do that, many do. You can engage SMSF professionals to help you set up and run your fund. You may want to get them involved right from the start since the decisions you make at start-up can affect their ability to help you later on.

 

We have a great page about self-managed super funds on our website that has links to a number of important SMSF matters including setting up, contributions and rollovers, investing as well as administering and reporting.

 

If you are setting up a SMSF with the intention of investing in property, you need to ensure that it is in line with your fund's investment strategy and that it takes into account the various restrictions on investments.

 

You need to have the time and skills to manage your SMSF, and there are ongoing running costs. We strongly recommend that you consider the costs, time and skills before you get started.

 

Hope this helps.

 

Thanks,

 

ChrisR