The structure of the fund and initial set-up is very important. Deciding if a Corporate Trustee is necessary depends on Individual circumstances. Further, it is very important the set up process to be accurate otherwise your DIY Super Fund can become non-complying.

In our set up service we ensure that your DIY Super Fund satisfies the following conditions:

  • It has fewer than five members.

  • Each individual Trustee (or director if a corporate trustee) must be a fund member.

  • Each member must be a Trustee (or director if a corporate trustee).

  • Each member must be 'linked' to the other members.

  • Trustees must not receive remuneration for their services as a Trustee.

  • Single member funds must have a corporate trustee with the member as the sole director or with a 'linked' director, or have two individual trustees - the member and a 'linked' person.

 

 

 

 

 

 

 

 

 

 

 

Failure to meet any of the above conditions may mean that the fund is not a DIY Super Fund.

The following are included in our Set Up Service:

  • 1 hour meeting with a recognised accountant / Registered Tax Agent who is legally certified to give advise if a DIY Super Fund is suitable to you.
  • Completion of all Trust Deed meetings and nominations forms
  • Assistance in Roll Over of all existing Superannuation Fund in DIY Super Fund
  • Checking if any Superannuation can be claimed from "Unclaimed Super"
  • Employer Nomination Form - helping employer to contribute to your fund
  • Assistance in opening bank account
  • Application for Tax File Number, ABN and Complying status
  • Assistance in opening accounts with Share Brokers etc
  • Assistance in organising life / TPD / Insurance

At this meeting we also explain your obligation as a trustee of your DIY Super Fund and explain your record-keeping requirements.

 

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Universal Consultancy Services
Unit 4, 287 Victoria Road
Quantum Business Park, Rydalmere NSW - 2116
Phone: (02) 9638 3966 Fax: (02) 9638 3060
Postal Address: PO Box 1010 Dundas NSW 2117
Email: sales@diysuperfund.com.au

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