A self-managed super fund gives you control over where your retirement savings go: listed shares, term deposits, commercial property, your own business premises. It also makes you the trustee, legally responsible for every decision, record and deadline. New Wave SMSF runs the fund’s accounting, tax and administration, and gives the specialist advice on whether an SMSF suits you and how to structure it, with the accountants who already know your business in the same building.
We are based on the Gold Coast and look after funds for trustees across Australia. Most of our SMSF clients are business owners who already use us for their group, often holding their premises inside the fund.
SMSF specialist advice
This is the part most SMSF accountants cannot give. New Wave SMSF’s advisers are representatives of NWG Financial Services (AFSL 538619), so the advice is licensed, documented and built around your position rather than a product.
- Is an SMSF right for you? There is no legal minimum balance, but the running costs are largely fixed. We model them against your combined balance, your time and your appetite for trustee responsibility, and tell you straight if an industry fund is the better answer.
- Structure. Individual trustees or a corporate trustee, who the members are, how a single-member fund is set up, and what happens when a member leaves, loses capacity or dies.
- Strategy. Contribution strategy against the caps, business real property held in the fund and leased back, limited recourse borrowing, pension phase and the transfer balance cap, and the written investment strategy every fund must hold and review.
- Ongoing review. The strategy and the structure are revisited each year with the accounts, so the fund keeps up with the rules and with your life.
SMSF setup
We set the fund up in the order the ATO expects, so the rollover is not delayed:
- Trustee structure decided and trustee declarations signed within 21 days.
- Trust deed prepared, reviewed against current law, and the fund established.
- ABN, TFN and ATO regulation election within 60 days; corporate trustee registered with ASIC if used.
- Fund bank account and electronic service address (ESA) in place, so employer contributions are not blocked under Payday Super.
- Investment strategy written and signed off.
- Rollovers requested once Super Fund Lookup shows the fund as registered, with insurance in the old fund checked first so you do not lose cover by accident.
Allow four to eight weeks from signing the deed to receiving rollovers. The full checklist is in our SMSF setup guide.
SMSF tax returns, accounts and administration
Every year the fund lodges an SMSF annual return: an income tax return, a regulatory return and a member contributions statement in one. We prepare and lodge it, along with everything the auditor and the ATO expect:
- Annual financial statements and member balances
- The SMSF annual return, lodged on the agent program
- Independent audit coordinated with an approved SMSF auditor, appointed at least 45 days before the return is due
- Transaction processing, records and trustee minutes kept audit-ready through the year
- Contribution caps, pension payments and the transfer balance account tracked, so nothing is breached by accident
- ATO and ASIC notifications when trustees, directors or members change
Who we work best with
- Business owners who want to hold their commercial premises in super and lease them back to the business.
- Couples and families combining balances to cut costs and widen the investment choice.
- Trustees of an existing fund who want the accounting and the advice from the same team.
- Investors who have outgrown the menu of a retail or industry fund.
What it costs
Fees are agreed up front, never by the hour. As a guide, SMSF accounting and the annual return typically sit between $2,000 and $4,000 a year depending on the number and type of investments, the independent audit is usually $500 to $1,000, and the ATO supervisory levy is $259 a year. Setup is quoted as a project before we start. Advice is scoped and priced in a written engagement before any work begins.
How it works
- Free discovery call (30 minutes). We learn what you want the fund to do and whether an SMSF makes sense for you.
- Advice. If it does, a licensed adviser prepares the structure and strategy recommendation and takes you through it.
- Setup or transfer. We establish the fund, or take over an existing one from your current accountant.
- Every year. Accounts, audit, return and strategy review on a fixed calendar, with a team you can call in between.
Frequently asked questions
Is there a minimum balance to start an SMSF?
No legal minimum. ASIC no longer publishes a figure. The question is whether the fund’s fixed annual costs make sense against your balance compared with your current fund, which is what the first conversation works through.
Can my SMSF buy my business premises?
Often, yes. Business real property is one of the few assets an SMSF can acquire from, or lease to, a related party. The lease has to be at market rent and paid on time, the purchase has to fit the investment strategy, and the fund still needs enough cash for its costs. It needs advice before you act.
Do I need a corporate trustee?
Not required, but many trustees choose one because the fund’s assets stay in the company’s name when members change, and a single-member fund can run with one director. It costs more to set up and carries a small ASIC fee each year.
Can you take over an existing SMSF?
Yes. We request the fund’s records from your current accountant, review the last return and the investment strategy, and tell you what we would change before the next year end.
Talk to New Wave SMSF
Book a free discovery call and we will tell you whether an SMSF suits you, what it would cost, and what the first year looks like. Book a FREE discovery call
This information is general in nature and does not constitute financial advice. You should consider whether this information is appropriate for your circumstances before acting on it. New Wave SMSF, Representatives of NWG Financial Services Licence No: 538619. Past performance is not indicative of future results.