Question 1

How much does it cost to set up an SMSF?

Accepted Answer

Our flat setup fee covers the trust deed and ATO registrations (TFN, ABN, and GST where applicable). Bare trust set-up for an LRBA is a separate service and quoted in addition.

See the pricing page for current fees — there are no hidden charges.

Question 2

How do you set up an SMSF, step by step?

Accepted Answer

There are six steps: choose your members and trustee structure (corporate trustee recommended), establish the trust deed, register the fund with the ATO for a TFN, ABN and regulated-fund status, register the corporate trustee with ASIC if you're using one, open the fund's bank account and Electronic Service Address for SuperStream, then document an investment strategy and roll over your existing super.

With easySMSF the whole online application takes about 10 minutes and most funds are operational within days.

Question 3

How do I set up an SMSF bank account?

Accepted Answer

The fund's bank account must be in the name of the trustee 'as trustee for' the fund — for example 'Acme Pty Ltd ATF Smith Family Super Fund'. It has to be opened after the fund has its ABN, and it must be separate from any personal or business account.

easySMSF includes pre-filled application packs for Macquarie, ANZ, NAB, CBA and Westpac. Macquarie is usually same-day; the big four typically take 1–3 business days.

Question 4

What is an Electronic Service Address (ESA) and do I need one?

Accepted Answer

Yes — every SMSF needs an ESA to receive SuperStream contributions and rollovers. It is not an email address; it's a registered alias provided by a SuperStream messaging provider. easySMSF includes an ESA with every setup and registers it with the ATO automatically.

Question 5

Do all members need a Director Identification Number (DIN)?

Accepted Answer

Only if you choose a corporate trustee. Every director of the trustee company must have a DIN before ASIC will register the company. DINs are free, take a few minutes to obtain at abrs.gov.au, and must be applied for personally using your myGovID.

Question 6

Are SMSF setup costs tax deductible?

Accepted Answer

No. The ATO treats SMSF establishment costs — trust deed, ASIC company registration, ATO registrations — as capital costs of the fund. They are not deductible against the fund's assessable income, and they are not deductible to members personally.

Ongoing administration, independent audit, actuarial certificate, tax-agent and ASIC annual review fees are deductible to the fund each year.

Question 7

How long does SMSF setup take?

Accepted Answer

Most easySMSF funds are fully operational within days from receiving complete member information and verified ID.

Question 8

What documents do I need to provide to set up an SMSF?

Accepted Answer

We need certified ID for each trustee/member, your existing super fund details for rollover, and basic personal information.

Everything is captured through our online onboarding wizard.

Question 9

Should I choose a corporate trustee or individual trustees?

Accepted Answer

A corporate trustee is generally recommended for asset protection, simpler member changes, and a clearer separation between fund and personal assets.

Individual trustees are cheaper to set up, but carry higher penalty exposure and more admin overhead over time.

Question 10

What is the minimum balance to start an SMSF?

Accepted Answer

There is no legal minimum balance to start an SMSF.

ASIC suggests around $200,000 to make an SMSF cost-competitive with retail or industry funds. Our calculator can show you the break-even point for your situation.

Question 11

Can I roll over my existing super into a new SMSF?

Accepted Answer

Yes. Once your SMSF has a TFN, ABN, bank account and is registered with the ATO, you can request a rollover from your existing fund electronically via SuperStream.

Rollovers usually settle in 3 to 5 business days.

Question 12

Do I need a corporate trustee company set up first?

Accepted Answer

If you choose the corporate trustee structure, we register the company with ASIC as part of the setup process. You don't need to arrange anything separately.

Question 13

Can I set up an SMSF with my spouse or family?

Accepted Answer

Yes. An SMSF can have up to 6 members — a common structure is spouses or family members together.

All members must be trustees, or directors of the corporate trustee.

SMSF setup questions