March 2015
Beginner
376 pages
10h 10m
English
Content preview from DIY Super For Dummies, 3rd Australian Edition
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Part III
Running Your Self-Managed Super Fund
Five Things to Check When Appointing a Fund Administrator
Years of experience in the SMSF sector: Experts can have dozens of years of experience in superannuation, or may have just entered the SMSF space. Do your due diligence on who’ll be working on your SMSF, and ensure your prospective administrator has the expertise and the systems to service your fund.
Scope of administration service agreement: When appointing a SMSF administrator, you’ll be asked to sign an administration service agreement, which covers the scope of what your administrator will do for your SMSF. Read the agreement carefully before signing.
Administration schedule of fees: The fee schedule often forms part of the administration service agreement. Check the fee schedule to see what’s covered in any fixed administration fee, and what services are additional costs. ATO annual levy fees are extra.
Total SMSF package or separate investment administration: Be clear with ...
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