Mettle Accountants

Services

Your own super fund, set up properly.

An SMSF (self managed super fund) is a super fund you run yourself. We set it up in the right order, then do the accounts, tax return and audit each year.

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What's included

Every registration the fund needs, in order.

An SMSF goes wrong on the small things. One example is a deed that does not match the trustee. Another is a rollover asked for before the fund exists. We do the steps in order.

We give factual information on how an SMSF works and what the law requires. We do not give financial product advice. That means we do not say whether an SMSF suits you or what it should invest in. A licensed financial adviser does that.

  • We prepare the trust deed and you sign it. It records the fund name, the members and the trustees. Every registration after that matches the deed.
  • We explain the two trustee types before you choose. The trustees can be people (individual trustees) or a company (a corporate trustee). We cover the cost, who carries the risk and what happens when a member leaves. If you choose a company, we register the company with ASIC (the companies regulator).
  • We register the fund with the ATO. We apply for its ABN (its business number). We also apply for its TFN (its tax file number). We tell the ATO the fund will follow the super rules. This is called electing to be a regulated fund. If the fund needs GST (goods and services tax) registration, we add that too.
  • We open a bank account in the fund's name. We set up an electronic service address. That is the address other funds and employers use. They use it to send the fund messages about payments. The money itself goes into the fund's bank account. It lets contributions (money paid in) and rollovers (your old super moved into the new fund) arrive.
  • We explain and write up the investment strategy. That is the fund's written plan for what it will invest in. The trustees adopt it before the first dollar is invested. What the fund buys is up to the trustees.
  • The fund may borrow to buy property. If so, we set up a bare trust and its trustee. A bare trust is a separate trust. It holds the property until the loan is repaid. The law requires this for a limited recourse borrowing arrangement (LRBA). Limited recourse means the lender can only take that property if the fund cannot repay.
  • Each year after, we prepare the fund's financial statements (its yearly accounts). We prepare the SMSF annual return too (the fund's tax return). We also arrange an independent audit with an approved SMSF auditor.

Who it's for

People who want their super under their own control.

Being a trustee is real work and real responsibility. An SMSF suits some people well and others not at all. We work out which when we talk.

Owners who want to choose the assets

Business owners with super in a retail or industry fund (a big public fund). They would rather decide what it holds themselves. That can include direct property. It can also include other assets a public fund will not offer.

Families pooling their super

Couples and families who want one fund. It has one set of accounts and one investment strategy. That replaces several balances run separately.

Buying premises through the fund

Owners who want the fund to own the premises the business rents. Sometimes this uses a limited recourse loan. The bare trust and the lease both need to be right before settlement. Settlement is the day the purchase completes.

How it works

Three steps, then the fund is yours to run.

Everything follows the super rules. We do not draft the deed until you agree the scope (the list of work).

  1. A conversation

    We talk about where your super is now. Then we ask what you want the fund to do. Who would the members be? Is property on the plan? We explain the process and the rules, and where a licensed financial adviser comes in.

  2. A fixed scope in writing

    You get a written scope. It lists the documents, registrations and accounts we will set up. It names the trustee type and says whether a bare trust is included. It gives the cost and how long each step should take. You agree to it before any work starts.

  3. The same team, all year

    The accountant who set the fund up does the accounts and return each year. They arrange the audit and tell you what is due before it is due. You have one contact who knows your file. Reach them by phone, text or WhatsApp, and get same-day answers.

What you get

A fund ready to receive money.

One file holds everything. It has what a bank, an employer or your old super fund will ask for.

  • The signed trust deed, each member's application to join and each trustee's consent to act, all filed. The ATO trustee declarations too. That is the form each trustee signs to say they know their duties.
  • If you choose a corporate trustee, the company registered with ASIC. You also get its constitution (the company's rule book) and certificate of registration.
  • The fund's ABN and TFN issued, and its ATO registration confirmed.
  • An electronic service address registered and ready for contributions and rollovers.
  • The fund's bank account opened, and rollover requests sent to your existing funds.
  • A written investment strategy adopted and signed by the trustees.
  • A bare trust deed and its trustee in place. This applies if the fund will borrow to buy property.
  • A calendar of what is due each year. It covers the accounts, the annual return and the independent audit.

What we need from you

A short list, gathered once.

We send it after the first conversation. We add a note on where to find each item.

  • Full name, date of birth, address and TFN for every member. The same for every trustee or director.
  • Proof of identity for each trustee or director. The bank needs it. So do we before we register a company. Each director also needs a director ID (a number from the government) before we can register it.
  • Details of the super you want to roll in. We need the fund name, member number and rough balance for each.
  • Your chosen fund name and trustee type, once we have talked both through.
  • Whether the fund plans to borrow to buy property. If so, we prepare the bare trust at the same time.
  • Confirmation that each trustee is allowed to act. They must not be bankrupt, have a conviction for dishonesty, or be banned by the ATO from being a trustee.
  • Your financial adviser's details, if you have one. That way the investment strategy and their advice line up.

Related services

The SMSF may sit next to a business or family trust. If so, we look at the whole picture under Business Structuring.

Trust Setup

A discretionary trust (often called a family trust) or a unit trust. In a unit trust each person holds set units. The deed, trustee and registrations are all in place. We often set one up alongside the fund that holds the family's super.

Trust Setup

Tax & Compliance

The SMSF annual return is one of several forms due each year. BAS is the activity statement you send the ATO, mainly for GST. We lodge income tax, GST and BAS on time. That covers you and every entity (company, trust or fund) you own.

Tax & Compliance

Get in touch

Ready when you are.

Book a consultation Call 1800 METTLE