SMSF SMSF
Up to 6.01 % p.a.*
bonus variable
rate up to $250k

RaboDirect Online SMSF

  • Individual or Corporate Trustee, company set up

  • Manage your SMSF investments online

  • Optional ongoing SMSF administration from experts Cavendish

Giving it to you straight

Take control of your Super

Consolidate your Super with RaboDirect's Online SMSF solution

When you choose RaboDirect for your SMSF, we set up your new SMSF and also open a RaboDirect High Interest Savings Account for it.

Rollover your existing Super

RaboDirect can arrange for existing Super for all members to be rolled over into your new RaboDirect SMSF account. All you need to do is tick the rollover box during the online application. Didn’t tick the box during the online application? Not to worry, we can help you with this at anytime. Just give us a call and we’ll get the ball rolling.

Control your contributions

Using your High Interest Savings Account details, make contributions when it suits you.

Online control for your SMSF

Setting up your SMSF online offers you control over your RaboDirect investment portfolio with consolidated administration and secure online access to statements and tax reporting.

Market leading investments

Your new Online SMSF also benefits from RaboDirect’s market leading savings and Term Deposits rates, and the opportunity to invest in a range of low fee wholesale Managed Funds.

Fully flexible

Plus, your RaboDirect High Interest Savings Account has a “pay anyone” transactional facility, so you can set up your own payee list, organise to make regular payments and also continue to trade with your preferred stock broker.

Features and benefits

Taking control of your Super is easy with RaboDirect's straightforward, cost effective
Online SMSF solution

  • A single online application to set up your new SMSF and open a RaboDirect High Interest Savings Account

  • Choose Individual Trustees or a Corporate Trustee for your fund. We can also help you set up and register a new company to be your fund’s Corporate Trustee if required

  • RaboDirect can also organise to rollover existing Super for all members to your RaboDirect account

  • Invest and manage your SMSF portfolio online with consolidated administration and reporting for your RaboDirect portfolio

  • Optional ongoing SMSF administration with our expert partner Cavendish

  • The RaboDirect High Interest Savings Account offers you fee-free “pay anyone” transactional capability

  • No fees, no minimum balance

  • Interest on your RaboDirect account is calculated daily and paid monthly

  • Access to a range of Term Deposits and low fee wholesale Managed Funds

How it works

Steps to stealing back your Super

Step 1

Complete the online application and pay the SMSF establishment fee to RaboDirect

Step 2

You’ll receive your SMSF Set Up Pack containing your Trust Deeds and related documents to sign. Sign and return these to us.

Step 3

We’ll check your documents and send them to the ATO on your behalf. The ATO generally takes 4-6 weeks for SMSF registration.

Step 4

Once your SMSF is registered we’ll set up your RaboDirect High Interest Savings Account and send you your Trust Deed, account details and Digipass for secure online banking with RaboDirect.

Step 5

If you selected to rollover your existing Super into your RaboDirect High Interest Savings Account, we’ll action it once your account is open.

What you need to get started

SMSF set up checklist

Use our checklist to make sure you have all the information you need before applying online.

  • Choose a name for your new SMSF
  • Name, address and date of birth for each trustee / director and member. If you want to set up a single-member fund, you require either two individual trustees, or you must set up a Corporate Trustee.
  • Tax File Number (TFN) for each member (optional)
  • Postal address for us to send you information for your SMSF
  • Account name and number of member’s existing Super funds (if you have elected for RaboDirect to rollover of your existing Super)
  • Financial planner / accountant contact details (if you want us to send them your SMSF details)

Additional information required for a corporate trustee:

  • Company name, registered address, principal place of business and ABN or ACN for the company

If you are establishing a new company to be trustee for your SMSF, you will also need the following:

  • Three (3) preferred names for the new company
  • Name, address, date and place of birth (City, State and Country) for each Director
  • TFN for each Director

Fees

What you’ll pay

With a RaboDirect Online SMSF the fees you pay are competitive, simple to understand and transparent.

Fee descriptionFeeHow and when paid

SMSF establishment fee

$695This fee is due when you apply online and is payable directly to Rabobank by direct credit using the account details provided on completion of the online application.

New company set up
You will only pay this fee if you choose to set up a new company.

$840This fee only applies if you have elected to set up a new company to be trustee for your SMSF. The invoice will arrive with the Set Up Pack and is payable directly to Cavendish by cheque.

Company Maintenance fee
You will only pay this fee if you choose ongoing company maintenance.

$195 per annumThis fee is paid to Cavendish annually. You can set Cavendish up on your RaboDirect Payee List for this payment to be made automatically each year.

Rollover

$0RaboDirect does not charge for rollover of your existing Super

SMSF administration
You will only pay this fee if you choose ongoing administration.

$2,880 per annum
$240 per month		This fee is paid to Cavendish monthly with a minimum of $2,000 for the first year and an annual maximum of $2,880. You can set Cavendish up on your RaboDirect Payee List for this payment to be made automatically every month.

High Interest Savings Account

$0RaboDirect does not charge fees on any savings accounts or for the 'Pay Anyone' facility on the account.

Term deposit fees

$0Early termination fees may apply

Managed funds brokerage

0.50% - 0.75%Payable when you make an investment in a fund. RaboDirect does not charge any entry, exit or ongoing fees.

What you need to consider

To set up a RaboDirect Online SMSF you must:

  • Be over the age of 18

  • Have not been convicted of an offence involving dishonesty

  • Have not been subject to civil penalties under the Superannuation Industry (Supervision) Act

  • Have not been insolvent under administration or an undischarged bankrupt

  • Have not been disqualified by a regulator (ATO or APRA).

Please consider the following as strict rules apply to setting up and running
a RaboDirect Online SMSF

  • Are you eligible to perform the duties of a trustee?

  • Are you aware of your responsibilities as a trustee?

  • Do you have sufficient funds in your Super to make the extra costs of running an SMSF worthwhile? (ATO recommends that you have at least $200,000 of superannuation to make the set up of your SMSF and annual running costs worthwhile)

  • Have you investigated how to set up an SMSF and are ready to get started.

  • Have consulted a financial planner, accountant or lawyer about setting up a SMSF?

If you are unsure of any of the answers to the above questions, consider consulting a Financial Planner or accountant before proceeding.

Useful links

ATO - Thinking about a self-managed super fund
ATO - Setting up a self-managed super fund
ATO - Running a self-managed super fund

Cavendish and ongoing administration

cavendish-logo.jpg

Managing the paperwork for your SMSF can be time consuming
and complicated.

Cavendish are the SMSF experts and provide trustees with a competitive and efficient online solution for managing SMSF investments as well as ongoing administration of the fund. Cavendish’s online administration solution can help trustees to:

  • Spend more time managing your investments

  • Keep things simple with online administration and reporting

  • Feel confident that your are meeting many of your obligations as a trustee

  • Make sure your SMSF is always up to date

                                                                                                                                                            

What you’ll get

Cavendish will take care of all the day-to-day paperwork for your SMSF and you’ll have online access so you can track your fund and investments via Cavendish’s 24/7 online portal:

Fund Details

Member Details

Investments

Reporting

Balance sheet

Pension tracking

Bank Transactions

Annual Trustee Financial Statements

Operating statement

Contribution tracking

Investment valuations

Annual Member Benefit Statement

Income and expenses

Member balances

and income allocation

Asset allocation

Income and Regulatory Return Preparation and Lodgment

Asset strategy

Realised / unrealised Capital Gains

Business Activity and Instalment Activity Statement

Pension Rebate and

Deduction Calculation

ATO PAYG Registration and Preparation of PAYG Reconciliation and Group Certificate

More about Cavendish

Cavendish is a leading provider in superannuation services. They’ll take care of your ongoing SMSF administration and help you to comply with your obligations as a trustee. We believe the Cavendish administration service is one of the best in the market.

  • They’ve worked in the superannuation industry since 1993 so they know their stuff

  • They’re the leading provider of SMSF services in Australia looking after 4500 funds and with $4.5bn of funds under administration

  • They have the experience, knowledge and specialist superannuation expertise you need to get it right

  • We call them the ‘experts behind the experts’ with clients including financial advisers, brokers and accountants

  • The team is based in Adelaide to provide the support you need, when you need it

Simply tick the ongoing administration box when you complete your online application and Cavendish will organise the paperwork for you to get things moving.

Cavandish award banner

The Rainmaker SelectingSuper Awards are chosen from among the best Super funds in Australia, which have already earned the AAA SelectingSuper quality assessment rating.
As part of this quality assessment and ratings program, Rainmaker investigates super funds' administration, communication, persistency of investment returns, how well balanced yet comprehensive their service range is and how reasonable their fees are for what they deliver. Award winners are selected from short lists comprising top-rated funds that the rainmaker research team has found to be leaving the biggest mark on the industry, have reliable relative net returns, have a level of innovation, are industry leaders, and which are persistently
successful.

One sign up, all our products, anytime

As a RaboDirect customer, when you sign up to one of our products
you have access to them all. Now that’s convenience.

Is a SMSF right for you?

  • Are you aware of the administration and minimum audit requirements of running a SMSF?

  • Do you have the ATO’s recommended minimum of $200,000 to make the estimated annual
    costs of $2,000 worthwhile?

  • Are you prepared to set up an Individual or Corporate Trust for your Super?

  • Are you aware of your responsibilities as a Trustee of a SMSF?

If you are unsure about any of these points, please use these helpful links to find out more information about setting up and managing a new Self Managed Super Fund

Useful links

ATO - Thinking about a self-managed super fund
ATO - Setting up a self-managed super fund
ATO - Running a self-managed super fund

At RaboDirect your deposits are guaranteed by our ultimate parent Rabobank

From 1 February 2012, Deposits with RaboDirect are guaranteed by the Australian Government up to a combined total of $250,000.

Rabobank has been ranked one of the top 10 safest banks in the world by Global Finance magazine; it is also bigger than any Australian bank. So you know your money is in safe hands with us.

Learn more

Top Frequently asked questions

Can my financial planner set up my SMSF for me?

Yes. They can submit your application on your behalf and take care of the paperwork for you.
You and your SMSF members will still need to sign the relevant set up documents.

Do I have to keep all of my Super with RaboDirect?

No. The great thing about RaboDirect Online SMSF is that it gives you control and flexibility.
You can use your RaboDirect Online SMSF to make investments outside RaboDirect.

How do I rollover
my existing Super?

RaboDirect can arrange everything for you.
All you need to do is tick the rollover box on your online application.
We’ll organise the paperwork and get your Super rolled into your RaboDirect High Interest Savings Account once it’s established - simple.

Can I make regular contributions to my account?

Yes - once your High Interest Savings Account is set up you’ll be able to make regular contributions to it.
You or anyone else will be able to make contributions into the account using your BSB and account number.

Can I like look after my own ongoing administration?

Yes. The great thing about RaboDirect Online SMSF is that you’re in control.
You choose the providers you want to use.
We have chosen to partner with Cavendish because we believe their administration service is the best in the market but this service is optional.

Can I use my existing bank account for my SMSF?

No. Your SMSF money cannot be held in any individual members' bank account.
Your SMSF bank account must be kept separate to each member’s individual bank accounts to protect the assets of the SMSF.
When you use RaboDirect Online SMSF we’ll automatically set up a RaboDirect High Interest Savings Account in the name of your SMSF.

I still can’t find what I’m looking for?

Still have a question?
Click here to view all our SMSF FAQ's or to speak to one of our Sydney based Customer experience agents call
1800 445 445