Looking to finally set up a smsf corporate.
Seems justsuperfund is competitive with BGLsimplefund360 access included. Green frog and smsfwarehouse were the other 2 I am considering but a bit dearer.
Any thoughts experiences? Thanks.
Just Superfund: Self-Managed Super Fund Question
SoylentGreen on 26/07/2022 - 17:09
Last edited 26/07/2022 - 17:26 by 1 other user
Last edited 26/07/2022 - 17:26 by 1 other user
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I've used superannuation warehouse for 6 or 7 years. No fuss, you can choose everything, though I think they might have some cheaper, less feature rich options.
Assuming you are self sufficient, I am happy with them.
I am using https://www.onlinesuperfund.com.au/
Everything is cloud and online and they are very quick to reply to all my emails
coming to 11 years managing my SMSF
After researching I just started this year with www.esuperfund.com.au @ $1099pa (1st year free) and allows ASX and intl shares via CMC markets $0 brokerage, investment property, even crypto if you're keen. Communication and replies been 100%.
and can include life/TPD insurance via AIA / AGI fully tax deductible.
Sorry layman question I have setup SMSF via my tax agent and opened corresponding NAB account. I check esuperfund doesn't allow any transfer, onlinesuperfund allows.
So are the cost benefit for me reduce tax agent fees as I don't pay any fees to NAB for managing my account?
Looking at the NAB SMSF page - they use Heffron to administer the SMSF with an annual cost of $2240 + annual audit/compliance fee of $510 paid monthly.
You can setup a new SMSF with esuperfund which will include a transaction account with ANZ. Once you establish your new esuperfund you can rollover your existing SMSF assets/investments/balance to esuperfund and then close or wind up your existing SMSF. Note: there will be a fee to wind up a SMSF but I couldn't find it on NAB website.
if you managing your own super the only cost to you are usually tax return, audit and buy and sell cost of asset like properties and shares
having a bank accounts for SMSF is like any other banks account, some has fees some don't
NAB dont manage your super that the whole point of SMSF you manage it yourself, NAB is just for bank accounts where your super will be depositedCorrect yes seems like I am on this option. My tax agent charge $3600 to setup SMSF and from memory charges $1800 for tax return and audit part.
With the service providers mentioned in this thread, do you have to maintain and submit documentation to them to allow for preparation of the accounts/tax return/audit, or do they maintain it throughout the year?
they do some automation with data feed from banks and share trading platform but you have to keep track of everything and account for every cent that goes in and out of your superfund account or the auditor may not signed it off.
I just file my paperwork every weekend if I have activities going on that week like dividend arrived in bank account, I make sure I got a dividend statement and file it, or buy or sell shares I make sure I file the buy/sell contracts etc ..
If I paid any invoice I file straight away along with the invoice and receipt etc…at the end of the year I dump it all on their cloud drive for them audit and do tax return, mostly I said automated but if they have something that automation don't picked up that where they go to the file I supplied them
each FY I got a folder with sub folders for them and I file them all in there according to each FY
eg
FY2122
- Dividend
- Shares contracts
- Banks statements
- Invoices etc…you need a system where paperwork doesn't over whelm you if you have a lot of things going on.
I can easy have hundred of shares contacts and dividend each year combined so I have to file them every week else I be !#@#$@$ come end of financial year and don't know what where how.
Has anyone had any experience with just superfund? And what was your experience like?
Hi ivi