ESUPERFUND Self-Managed Superannuation Fund - $0 Set-up Fee & $0 First Year Admininstration Fee (Save $1399)

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ESUPERFUND Self-Managed Superannuation Fund - $0 Set-up Fee & $0 First Year Admininstration Fee (Save $1399)
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Lrjtvipul333 on 19/03/2025 - 13:08 esuperfund.com.au (194 clicks)
Last edited 19/03/2025 - 13:19 by 1 other user

I haven't applied myself so unable to provide any reviews about their process etc, but here's some details from their website.

FREE SMSF Setup

If you apply to establish a New SMSF on or before 31 March 2025, it is FREE to set up your own SMSF with ESUPERFUND under our current Special Offer. Our Free New SMSF Setup Offer includes attending to the following requirements to establish your SMSF:

  • The SMSF Trust Deed
  • Documentation to appoint Trustees
  • Trustee Declarations
  • Lodgement of an Election for your SMSF to become a Regulated SMSF
  • ATO Application to obtain a Tax File Number for your SMSF
  • ATO Application to obtain an Australian Business Number for your SMSF
  • Sample Investment Strategy that you can adopt for your SMSF or modify if required
  • Resolutions and minutes to acknowledge the establishment of your SMSF
  • Application to establish an ANZ V2 Plus Account
  • Application to establish an EBROKING Share Trading Account

Find out more about our Free SMSF Setup Offer.

FREE First Year ESUPERFUND Fee (2025 Financial Year)

If you apply to establish a New SMSF on or before 31 March 2025, the 2025 Annual ESUPERFUND Fee is FREE under our current Special Offer. Our FREE ESUPERFUND Fee Offer includes attending to the following annual compliance obligations for your SMSF for the 2025 Financial Year:

  • Preparation of an annual Balance Sheet
  • Preparation of an annual Profit & Loss Statement
  • Preparation of annual Member Statements
  • Preparation of annual Trustee Resolutions & Minutes
  • Preparation and Lodgement of an annual Income Tax Return
  • Preparation of an annual Audit

This is a saving of $1,399.

Important Information

When setting up a SMSF it is important to understand that additional fees may apply that must be carefully considered prior to making a decision to setup a SMSF including an ATO Supervisory Levy , Company Trustee Setup Fee (where applicable) , and Investment Fees .

Special FREE Offer - Limited Time Only

Our Special Offer applies only to New SMSF applications submitted on or before 31 March 2025. For example if you apply online on or before 31 March 2025, however your SMSF is established after that date you will still qualify for our Special Offer. You should obtain your own independent financial and taxation advice about whether establishing an SMSF is appropriate to your circumstances.

Financial Self-Managed Superannuation Fund Superannuation

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Comments

  • jv on 19/03/2025 - 13:27
    -5

    I just set up my own using Excel.

    • tenpercent on 19/03/2025 - 13:35

      share your template with personal information cleared

  • raj76 on 19/03/2025 - 13:50
    +9

    A Self-Managed Superannuation Fund (SMSF) is a private super fund that you manage yourself, offering greater control and flexibility compared to traditional industry or retail super funds. However, it also comes with responsibilities and potential downsides.

    Benefits of an SMSF

    1. Investment Control – You have full control over your investment choices, including shares, property, term deposits, and even collectibles (within regulations).

    2. Tax Efficiency – SMSFs benefit from the same concessional tax rates as other super funds (typically 15% on earnings), with potential strategies to reduce tax further.

    3. Cost Savings (for large balances) – If you have a significant super balance (generally $250,000+), an SMSF can be more cost-effective than traditional funds.

    4. Estate Planning Flexibility – SMSFs allow tailored estate planning options, including specific beneficiary arrangements.

    5. Borrowing for Property – SMSFs can borrow to invest in property via Limited Recourse Borrowing Arrangements (LRBAs).

    6. Pooling Family Super – Up to six members can combine their super balances into one SMSF, allowing better investment opportunities.

    Disadvantages of an SMSF

    1. Time-Consuming – Managing an SMSF requires time for investment decisions, compliance, and administration.

    2. Regulatory Responsibility – You must comply with super laws set by the ATO and could face penalties for breaches.

    3. Higher Costs for Small Balances – SMSFs can be expensive to run (e.g., annual audits, financial advice, accounting fees), making them inefficient for small balances.

    4. Limited Consumer Protections – Unlike industry or retail funds, SMSFs don’t have access to compensation schemes if an investment fails.

    5. Complexity – Managing tax obligations, financial statements, and legal compliance requires financial expertise or professional assistance.

    6. Risk of Poor Investment Decisions – Without expertise, there’s a risk of making poor investments that can negatively impact retirement savings.

    Is an SMSF Right for You?

    An SMSF is best suited for people who:

    Have a large super balance (generally over $250,000).

    Are financially knowledgeable or willing to seek professional advice.

    Want direct control over their investments.

    Can dedicate time to managing compliance and administration.

  • Yowiefied on 19/03/2025 - 14:32
    +6

    I've been using esuperfund for about a decade now, even when my super balance was well under the amount normally where people would be using one. It has been fantastic, the process every year has been smooth as can be, and I get to take a more active role in how I manage my retirement fund.

    • eterno on 19/03/2025 - 14:45
      +4

      What are the annual costs to maintain or do the compliance/governance for the SMSF - audit fees etc etc. is it $1399 per annum fixed, or based on value in your SMSF, and what else do you as a personal individual need to perform to manage it
      Your personal experience on this would be appreciated

      • Yowiefied on 19/03/2025 - 15:03
        +5

        It's all included in the annual fee (used to be around $900 when I first joined). It's not based on your super balance at all, single fee that's it. In terms of what I do as a individual, as long as all my transactions are linked (either via the established ANZ bank account, or broking account) the codification process is simple. Any transaction that is not linked, I know I need to keep paperwork for (e.g. crypto, gold, bonds etc) and be ready to upload when during the year.

        Now it takes perhaps half a day annually to complete my compliance and submit it. ATO notifications go directly to your inbox, so if you need to action anything you can do it directly from there. I've only had to contact helpdesk maybe 2-3 times, and each time has been a good experience.

        I think the best thing you can do before jumping into a SMSF (your own or via esuperfund etc) is to understand what you can and can't do, research and read good investment books. I've managed to beat my previous managed superfund performance in all but one year (when you factor in their fees), and that's being pretty conservative about my investments.

        • kcool_00 on 19/03/2025 - 16:33
          +1

          thanks for sharing your experience. very helpful. any book or site you recommend for learning more about SMSF. both positives and negatives. I want to use mainly for long term property investment.

      • JohnSy on 19/03/2025 - 16:15
        +4

        Actually it is normally $1399 for esuperfund fee and $259 for the ATO Supervisory fee. The intro offer just removes the $1399 for the initial year.

        With SMSFs you can have individual or corporate trustees. Advantage of corporate trustee is that as you add new members to the fund you don't need to change the legal holding names of accounts each time. Personally I would go corporate trustee. Individual trustees are free but it is hard to change the members later.

        As a one-off, if you initially setup a corporate trustee then the fee for that can be as low as $740 if you do it through cleardocs (https://www.cleardocs.com/products-asic-company-registration…). Note: Each member must be a director. If you setup that company solely for use as a corporate trustee (ie a special purpose company), its then about $65 per year for a corporate trustee annual fee. You can prepay 10 years of this fee for a substantial discount ($452 for 10 years). (https://asic.gov.au/for-business/running-a-company/annual-st…)).

        So annual runnings costs normally around $1700 once the entities are all setup. Historically the $1399 fee increases historically $100 every second year or so. You likely need about $200,000+ in super to justify the costs, but there is some strong advantages to SMSFs when you have higher balances.

        200,000 balance = 0.85%
        1,000,000 balance = 0.17%

        Add in MER of individual investments if appropriate.

        If you add your partner to the SMSF running costs still remain the same etc.
        Some include:

        Later cut off times for last-minute contributions - as long as it reached the SMSF account within the financial year it will count for that year.

        The little-known ability to effectively bring forward concessional contributions from the next financial year if contribution made in June. (https://www.esuperfund.com.au/learn/contributions-to-smsf/pl…)

        Ie, you can have a $45,000 concessional contribution this year and $15,000 next year if you time the contributions correctly.

        • JohnSy on 19/03/2025 - 17:19
          +1

          Other less known advantages:

          • You can invest in ETFs (buy and hold for many years) and pay 0% capital gains for the entire holding period if you sell those ETFs after you have retired and are in pension phase.

          • Transitioning from accumulation to pension phase is not a capital gains tax event for SMSFs since assets are not sold initially start a pension. An industry or retail fund generally would need to sell down the accumulation fund units and buy pension fund units. This would generally be a capital gains tax event which the fund may or may not compensate you for.

          • You can have one accumulation fund and one or multiple pension funds active per member simultaneously within the same SMSF. (Useful if doing recontribution strategy, ie one pension for each recontribution, created on the day of the contribution to lock in the 100% untaxable rate for that particular pension).

          Disadvantages of Superfund:
          You need to use their preferred broker to get the automatic feeds. The brokerage fee will be higher than flat fee brokers.
          The automatic feeds generally require you to create accounts with particular banks.

          Its a little bit limiting, but I still think the advantages outweigh the limitations.

          • SBOB on 19/03/2025 - 18:06
            +2

            @JohnSy:

            Transitioning from accumulation to pension phase is not a capital gains tax event for SMSFs since assets are not sold initially start a pension. An industry or retail fund generally would need to sell down the accumulation fund units and buy pension fund units. This would generally be a capital gains tax event which the fund may or may not compensate you for.

            Unless you over the transfer balance cap then this isn't applicable to industry funds either where you hold shares/etfs directly
            Eg Australian Super members direct, transfering to retirement for funds within members direct is not a CGT event (unless exceeding transfer balance cap)

            • dajackal on 20/03/2025 - 08:17

              @SBOB: My understanding is that you're paying for everyone's CGT on a daily basis through pooled funds

              • SBOB on 20/03/2025 - 09:16
                +2

                @dajackal: Which is why I said directly held shares/etfs via members direct.

                Kind of like SMSF 'lite'.

                With Australian Super now allowing 100% of funds to be managed directly under members direct in etfs and ASX shares (limits per ETF or shares), for someone just using broad etfs for their super, going the smsf route has less advantages than it use to.

            • JohnSy on 20/03/2025 - 10:41

              @SBOB: Yes, directly holding shares in a member direct fund should also not trigger a CGT event. These types of funds do really make SMSFs less useful than previously as you mentioned below, however, I guess it gets a bit murky with this clause in the Australia Super member direct terms:

              "while you will have a beneficial interest in the assets of AustralianSuper as a whole, you will not have a specific beneficial interest in the investments you select".

              This makes me wonder: If you have no specific beneficial interest in the investment you select, then how can it really be called a member-direct holding? Or perhaps I am overthinking it, and it's just a carry-over of terms of a custodian holdings scheme.

  • 092202 on 19/03/2025 - 15:32
    +3

    Everything is included in the annual fee, they do all hard accounting /reporting job for you, they very responsive and always answer the questions. I am very happy with them (using for 8 years)

  • clover on 19/03/2025 - 16:30

    What about insurance?

    • mskeggs on 19/03/2025 - 16:35

      You can purchase insurance via an SMSF. I do t have a view on whether the policy cost is higher or lower, but presumably you can tailor the insurance more than a public fund.

    • tenpercent on 19/03/2025 - 16:38
      +1

      Keep a small amount of your super in a low fee industry fund to access lower cost insurance if it works out too expensive via the SMSF?

  • powerhead on 19/03/2025 - 17:26
    +3

    Depending on your investment needs, you could potentially have a similar outcome for a third of the price with direct investment options offered by big superfunds. For example HostPlus choice or AustralianSuper member direct platforms. I personally use member direct and the fees are capped at 582 per year plus MER of your chosen etfs.

    • JohnSy on 19/03/2025 - 17:39
      +2

      I was curious, so I looked into the terms and conditions found in the "Member Direct Guide" (https://www.australiansuper.com/investments/your-investment-…):

      I see there are some disadvantages, and the ones that stick out to me at first glance are:

      • The investments you select will be registered in the name of JP Morgan Nominees Australia Limited, as custodian, for AustralianSuper superannuation fund, as trustee of AustralianSuper – investments will not be registered in your name.

      • the investments you select will be legally available to the trustee to be used to satisfy any liability that relates to AustralianSuper, even if the liability is not specific to you or the investments you select

      • while you will have a beneficial interest in the assets of AustralianSuper as a whole, you will not have a specific beneficial interest in the investments you select

      • entitlements associated with the investments you select, for example an entitlement to participate in a corporate action affecting a listed security, are held by the trustee, and the trustee may give you a corresponding entitlement, a lesser entitlement or no corresponding entitlement at all, including as explained later in this guide

      • in the case of Term Deposits and your Cash account, your investment will not be covered under the Commonwealth Government's Financial Claims Scheme.

      The low fees are a plus though…

      • powerhead on 19/03/2025 - 19:04
        +1

        Valid points. However, items 1,3,4 are the result of the custodian arrangement which is very common both in Australia and overseas.

        Item 5 I wouldn’t think is an issue as they only use nab (too big to fail) and me bank (owned by superfunds).

        Item 2 is a good point to do more research on. But again we are talking about the biggest local fund, if they cannot meet their liabilities it will proportionally impact all the members and would be a major GFC like crisis event.

        In any case, everyone should be researching the options and making an informed decisions themselves.

  • dynaflow on 19/03/2025 - 21:09

    Got to love how some are attracted by "the ability to have greater control and flexibility".
    Do some serious homework here before you jump into a SMSF as unless you are financially savvy you are creating a rod for your back.Industry funds offer various interchangeable risk profiles that are conducive to less sleepness nights….maybe that's why many SMSF's are invested in Cash or make the mistake of switching to Cash when the market fluctuates.

    • miwahni on 19/03/2025 - 23:24

      Absolutely second this opinion. I can recall seeing the financials / statements of an SMSF that was set up with the intention to buy property. It took the member around 18 months to find a property he liked and in the meantime he left the funds in the SMSF cash management account earning bugger-all. Couldn't help but think that SMSF was not the right fit for him.

      • tenpercent on 20/03/2025 - 08:44
        +1

        How has he done since then?

    • tm8ate on 20/03/2025 - 00:04

      "maybe that's why many SMSF's are invested in Cash or make the mistake of switching to Cash when the market fluctuates"

      Where did you pluck this from?

  • MITM on 20/03/2025 - 17:08

    Good vehicle for passing on an inheritance. Child members (1%) obtain full control once adult members (99%) pass —> Child members (100%).

    • tenpercent on 20/03/2025 - 17:24

      "Good" in what way? I would have thought passing on inheritance outside of superannuation would let the child/ren make use of their parent/s' wealth, whereas the scenario you presented keeps it locked away until the child/ren reach retirement age. I may be mistaken and am happy to understand more about the benefits of the inheritance aspect.

  • dynaflow on 20/03/2025 - 17:16

    tm8ate 17 hours 7 min agonew
    "maybe that's why many SMSF's are invested in Cash or make the mistake of switching to Cash when the market fluctuates".Where did you pluck this from?
    I didn't….many put the funds into a Cash option "because it's safe"….either that or invest in Banks for a similar reason.The point being that many simply don't have the experience to manage their SMSF.
    Then there's the annual compliance issues.It's not all plain sailing.

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