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Created with Fabric.js 1.4.5 SMSF SET UP PROCEDURE 5 1 2 4 3 One off advice and/orimplementationfee superto pay - Set up cost is a one off upfront payment- Statement of Advice $3,499+GST- Implementation of Advice $4,950+GST- Annual ongoing tax returns and Audit by your Accountant - CMA receives Rollover payments- If buying property, adviser assists in establishing another company to act as trusted of bare trust ($875 + GST)- Client select the right property with appropriate advice and holding deposit must be paid from SMSF bank account- Adviser establishes a bare trust to hold the property on behalf the SMSF (1,750+GST). Each property must have a different bare trust- Contact financial institution to finalise paperwork and obtain final approval- Contact your accountant for stamp duty or tax advice SMSF operationaland propertyInvestment Property Settlement SMSFDocuments Set up Bank andTradingAccountSet up - Client applies for Bank CMA in the name of SMSF- Post Rollover forms with certified copy of ID to respective super fund. Do not cancel any insurance policy held under current super (Timeframe 28 days)- Adviser completes SMSF Investment Strategy after discussing objectives/needs- Open trading or managed fund account (if applicable) - Client appoints lawyer/conveyancer to advice on property legal work- Adviser to prepare statement of advice and liaise with bank/mortgage broker (implementation)- Once the loan is approved, lawyer assists with property settlement- Appoint a real estate to find a tenant and manage the property- Client/real estate agent to prepare new property lease agreement- Ensure that no related party use, rent r utilise any part of the property- Ensure that all SMSF assets are kept separate from any other assets - Application form completed to set up SMSF ($895+GST)- Register fund and company with ASIC- Apply for ABN, TFNs (Received typically within 28 days) ($95 + GST)- Deed pack ready for signing within 48 hours
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