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Self Managed Superannuation

Self Managed Super Funds (SMSF) and Superannuation generally


What is a SMSF?

A self managed superannuation fund (“SMSF”) is a small super fund with 4 or less members and is run by the trustees who are also the members or are directors of a trustee company.

SMSFs are also known as mum and dad funds.

Super cannot be left to family in a Will.

It surprising how few people know that superannuation generally does not form part of your estate and cannot be left pursuant to a Will.

Depending on what type of superannuation you have (usually either retail, industry or SMSF) we can provide appropriate advice.

If you have signed a binding death nomination (“BDN”) drafted strictly in accordance with the terms of the super deed, the trustee (who is in charge of your super) has to pay death benefits as provided in the BDN.

If you are unsure whether you have signed a BDN, contact your superannuation provider (if not a SMSF) and ask them.

SMSF usually have their own BDN clauses in the SMSF deed.  We can prepare a BDN for you or ensure a BDN you have signed is valid.

SMSF Checklist

If you would like a SMSF succession checklist for matters to consider now for your SMSF to help prepare for the orderly transfer of control and distribution of your super when you die, please email us at for a copy.

Other SMSF services we provide


Transfer of business real property to SMSF

Business real property owned by members can be transferred into a SMSF if done carefully, with the advice of an accountant to ensure contribution limits are not exceeded.  Business Real Property can be purchased if there is cash in the fund and it is in line with the investment strategy.

There is a NSW stamp duty concession of $500 if the transfer complies with the Section 62A of the NSW Duties Act 1997.

Change of trustee

It may be suggested by a client’s accountant that the trustee of the Fund is changed to a corporate trustee.  We can provide the necessary deed to attend to the change in accordance with the Fund’s deed.  If the super fund owns real estate, we can also transfer the property from the old trustee to to the new trustee.  There is nominal stamp duty of $50 to transfer the property (Section 54 of the NSW Duties Act 1997).

Update rules or amend rules

The SMSF’s deed may require updating from time to time with changes to the SIS Act and regulations.

We also amend deeds, for example, a bank requires a certain clause in the deed before it will lend money.

General advice

We cannot provide financial or investment advice in regards to a SMSF, neither can we provide advice as to whether it is appropriate to set up a Fund at all.  This is provided by financial advisers who have the appropriate licences to do so.

We can provide general advice on the superannuation legislation, for example to provide information about whether certain investments are allowable and information about the GST implications of transactions of a SMSF.

Limited recourse borrowing arrangements

SMSFs have limited borrowing ability which is governed by Section 67A of the Superannuation Industry (Supervision) Act 1993 (SIS Act).

A SMSF can only borrow towards purchasing a single asset at any one time.

The SIS Act requires that the asset is held on trust until the loan amount has been paid in full by the super fund.

We can prepare the necessary documents to put a limited recourse borrowing arrangement in place.

Get in Touch

Contact us today by phone or email to discuss self managed superannuation.

Call (02) 8076 6076