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Setting up a self-managed superannuation fund
is an important decision and should not be done
until your various retirement saving options have
been carefully evaluated. We therefore strongly
recommend that you seek professional advice
prior to making any final decisions.
The costs outlined below are indicative for the
financial, legal and accounting services which
are necessary for the efficient operation of your
fund.
Set-up costs ($385 to $1,182
including GST)
The cost of setting up a fund will vary depending
on whether you want a corporate or individual
trustees. This is a critical choice so you should
get advice on which option is best for you.
- For a corporate trustee
(e,g Bill & Mary Bloggs Pty Ltd as trustee
for the Bill & Mary Bloggs Super Fund),
there are two costs - one for the trustee company
and one for the trust deed.
- the cost of the trustee
company is $797 which includes the ASIC
registration fee of $412.
- the cost of the trust
deed, binding death nominations, ATO and
other registrations is $385.
- For individual trustees (e.g. Bill Bloggs
& Mary Bloggs as trustee for the Bill &
Mary Bloggs Super Fund) there is just the cost
of setting up the trust.
- the cost of the trust deed, binding death
nominations, ATO and other registrations
is $385.
We use Cleardocs for all legal documents. Cleardocs
is the preferred supplier to more than 8,000 professional
accountants, lawyers, and financial planners including
the ASX-listed accounting firm, WHK Group (WHG).
Their deeds are prepared by Maddocks, a Top 20
Australian law firm with offices in Sydney and
Melbourne.
On-going administration
($1,650 to $2,750 including GST)
Wren Super can assist you to maintain proper records
of your investments and refer you to our network
of accountants for the preparation of your financial
accounts and other statutory requirements.
In most cases, the yearly cost, including the
compulsory audit, will range between $1,500 to
$2,500 plus GST.
Portfolio management (0.55% to 1.10% including
GST)
This includes all on-going advice, portfolio reporting
and the preparation of a year-end tax summary.
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