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How much needed to set up a SMSF

How much is needed to set up a SMSF?

One common question in regards to the establishment of a SMSF is ‘how much do we need to start one?’

The answer is simple: It depends!

If you read the information out there regarding this subject, you will find that the recommended minimum amount required for establishing a SMSF is $200,000. This figure is based on one thing – the cost of operating an SMSF when compared to the management and administration fees charged by retail and industry superannuation funds.

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old_house

Follow up post – company as trustee of SMSF

Yesterday (25th of August 2010) there was an article in the Australian Financial Review (AFR) which illustrates the why a SMSF not only needs adequate insurance cover, but why it is essential that a company as trustee is used – especially when it comes to investing in property.

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choose your smsf trustee wisely

5 reasons why you need a company as trustee for your SMSF

90% of people who set up a SMSF get it wrong! Learn why it is so important to utilise a special purpose company as trustee of your SMSF rather than individual trustees.

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Checklist

How to set up a SMSF the right way

Set up a self managed superannuation fund (SMSF) – what you need to know about DIY super including trust deeds, SMSF investment strategy, ATO, tax and asset protection.

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