Question 1

How long does setting up an SMSF take?

Accepted Answer

With easySMSF, most funds are ready to receive contributions within days of you finishing the online application. Timing depends on third parties: the ATO usually issues a TFN and ABN 3–5 business days after the application is lodged, and bank account opening depends on the bank — typically same-day with Macquarie, longer with the big four.

Question 2

What do I need to set up an SMSF?

Accepted Answer

Each member's full legal name, date of birth, address, Tax File Number, and a director ID if you're using a corporate trustee. You'll also need to decide the fund's name, the trustee structure (corporate or individual), and where the fund will hold its bank account. The whole online application takes about 10 minutes.

Question 3

What's actually included in an SMSF setup?

Accepted Answer

A current SMSF Association-reviewed trust deed, preparation and lodgement of the ATO applications (TFN, ABN and the election to be a regulated super fund) as your appointed tax agent, preparation of the ASIC company application if you choose a corporate trustee, trustee declarations, member applications, an Investment Strategy template, and the Electronic Service Address (ESA) needed for SuperStream contributions. easySMSF is a private firm, not a government agency — the ATO applications are free to lodge yourself at ato.gov.au and ASIC charges its own published fee.

Question 4

How much does it cost to set up an SMSF?

Accepted Answer

easySMSF charges a fixed setup fee for our professional work — preparing the trust deed and fund documentation, lodging the ATO applications and, for a corporate trustee, the ASIC company application on your behalf as your appointed agent, plus the first year's administration. Government charges such as the $636 ASIC company registration fee are payable to ASIC and passed on at cost. There are no hidden costs and no percentage-of-balance fees. See the SMSF setup cost page for the current fixed price.

Question 5

Can I roll over my existing super into the new SMSF myself?

Accepted Answer

Yes. Once your SMSF has its ABN and bank account, your existing fund is required to roll over your balance via SuperStream when you submit the rollover request — usually within 3 business days. easySMSF generates the rollover paperwork for each member as part of the setup.

Question 6

Are SMSF setup costs tax deductible?

Accepted Answer

SMSF establishment costs (the trust deed, ASIC registration of the corporate trustee, and the initial set-up work) are a capital expense and are not deductible to the fund. Once the fund is operational, ongoing administration, audit and tax-agent fees are generally deductible. Establishment costs are usually reimbursed from the SMSF after the first rollover or treated as a personal contribution by a member — confirm the treatment with your tax adviser.

Question 7

How do you set up an SMSF loan (LRBA) to buy property?

Accepted Answer

An SMSF can only borrow under a Limited Recourse Borrowing Arrangement (LRBA). The structure is: (1) the SMSF identifies the property and signs a contract subject to finance, (2) a separate bare (holding) trust is established with a corporate bare trustee to legally hold the asset while the loan exists, (3) the SMSF applies to a lender that offers SMSF LRBA loans — typically Liberty, La Trobe, Granite, Firstmac or Thinktank for residential, plus several non-bank commercial lenders — and (4) the loan and bare trust settle on the same day as the property. easySMSF sets up the bare trust and corporate bare trustee as a fixed-fee add-on; the lender handles the loan approval.

Question 8

What's the difference between a bare trust and the SMSF trust deed?

Accepted Answer

The SMSF trust deed governs the fund itself — members, contributions, benefits, investment powers. The bare (holding) trust is a separate, single-purpose trust that exists only to hold legal title to one LRBA asset until the loan is repaid. The SMSF is the beneficial owner from day one and receives all the rent and capital growth. You need a new bare trust for each LRBA property — they cannot be shared.

Question 9

What deposit and serviceability do SMSF LRBA lenders require?

Accepted Answer

Residential SMSF lenders typically lend up to 70–80% LVR and require liquidity of 10% of the loan amount to remain in the fund after settlement. Commercial property is usually 65–75% LVR. Serviceability is assessed on rental income plus contracted SG contributions to the SMSF (often a percentage haircut), not on member personal income. Most lenders also require all members to give personal guarantees.

Question 10

Can I refinance or change lenders on an existing SMSF loan?

Accepted Answer

Yes, but the new loan must also be a compliant LRBA — you cannot consolidate it with personal debt and you cannot increase the loan to fund improvements to the asset (only repairs and maintenance). The bare trust stays in place; only the lender and loan terms change. easySMSF can review the existing LRBA structure before you refinance to confirm it still complies with section 67A of the SIS Act.

Question 11

Does easySMSF arrange the SMSF loan itself?

Accepted Answer

No — we set up the SMSF and the bare trust, and we work with specialist SMSF mortgage brokers who place the loan with the appropriate lender. Keeping the loan introduction separate keeps the structure compliant and ensures you get an SMSF-specific product rather than a vanilla investment loan that breaches LRBA rules.

Question 12

Who is each SMSF setup fee payable to?

Accepted Answer

Our fixed professional fee is payable to easySMSF and covers our own work — preparing the trust deed and fund documentation and lodging the application forms on your behalf as your appointed agent. Government charges are separate: ATO/ABR registrations cost nothing, and the $636 company registration fee for a corporate trustee is payable to ASIC at its published rate and passed on at cost with no markup.

Question 13

Are there any hidden or ongoing SMSF fees?

Accepted Answer

No. Setup is a one-off fixed fee and administration is a flat monthly fee that includes coordination of the independent audit — there are no percentage-of-balance fees, success fees or exit fees. The only additional amounts are government charges set by the ATO and ASIC, such as ASIC's annual review fee for a special-purpose super company, which are payable to those agencies.

Question 14

Do individual trustees pay the ASIC company fee?

Accepted Answer

No — with individual trustees there is no company, so there is no $636 ASIC company registration fee and no annual ASIC review fee. That makes individual trustees cheaper up front, but a corporate trustee is usually simpler when members are added or removed later.

SMSF FAQs: how to set up an SMSF, answered

Before you start: the three decisions that shape your SMSF setup

Frequently asked questions

Ready to set up your SMSF?

Ready to set up or switch your SMSF?

SMSF setup explained

Fixed-fee pricing

What an SMSF costs