Take control of your Super
Establish your SMSF trust and control your SMSF online
Online SMSF offers you control over your RaboDirect investment portfolio with consolidated administration and secure online access to statements and tax reporting.
Consolidate your Super with RaboDirect's Online SMSF solution
When you choose RaboDirect for your SMSF, we establish your new SMSF trust and also open a High Interest Savings Account for your Super cash.
Rollover your existing Super
RaboDirect can arrange for existing Super of all members to be rolled over into your new High Interest Savings Account for your Online SMSF. 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
Make contributions into your High Interest Savings Account, for your Online SMSF, when it suits you.
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
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A single online application to establish your new SMSF trust, plus get a High Interest Savings Account to manage your Super cash
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Choose from Individual or a Corporate Trust for your new SMSF. We can also help you set up and register a new company to be your new SMSF's Corporate Trustee if required
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We can also organise to rollover existing Super for all members to your new Online SMSF High Interest Savings Account
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Invest and manage your SMSF portfolio online with consolidated administration and reporting for your RaboDirect portfolio
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Optional ongoing SMSF administration with our expert partner Cavendish
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Your new Online SMSF High Interest Savings Account offers you fee-free "pay anyone" transactional capability
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No fees, no minimum balance on your High Interest Savings Account
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Interest on your Online SMSF High Interest Savings Account is calculated daily and paid monthly
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Access to a range of Term Deposits and low fee wholesale Managed Funds
How it works
Steps to establishing your new SMSF trust
Step 1
Complete the online application and pay the SMSF establishment fee.
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 to establish a new SMSF.
Step 4
Once your SMSF is established we'll set up your 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 High Interest Savings Account, we'll action it once your account is open.
What you need to get started
SMSF establishment checklist
Use our checklist to make sure you have all the information you need before applying online.
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Choose a name for your new SMSF trust.
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Name, address and date of birth for each trustee / director and member. If you want to establish a single-member fund, you require either two individual trustees, or you must establish a Corporate Trustee.
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Tax File Number (TFN) for each member (optional)
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Postal address for us to send you information for your new SMSF trust.
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Account name and number of member's existing Super funds (if you have elected for RaboDirect to rollover of your existing Super)
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Financial planner / accountant contact details (if you want us to send them your new SMSF trust details)
Additional information required for a corporate trustee:
If you are establishing a new company to be trustee for your SMSF, you will also need the following:
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Three (3) preferred names for the new company
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Name, address, date and place of birth (City, State and Country) for each Director
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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.
When you apply for a RaboDirect Online SMSF, you get the benefit of a RaboDirect High Interest Savings Account with 'Pay Anyone' functionality, access to a range of market leading Term Deposits and the option for RaboDirect to help rollover your existing Super at no cost. You can also invest in a range of wholesale managed funds and brokerage may apply.
| Description |
Fee |
Details |
|
SMSF establishment fee
|
$695 |
This 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
(Optional)
|
$840 |
This fee only applies if you have elected to set up a new company to be trustee for your new SMSF. The invoice will arrive with the Set Up Pack and is payable directly to Cavendish by cheque. |
|
Company Maintenance fee
(Optional)
|
$195 per annum |
This 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. |
|
SMSF administration
(Optional)
|
$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. |
What you need to consider
To establish a new SMSF trust you must:
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Be over the age of 18
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Have not been convicted of an offence involving dishonesty
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Have not been subject to civil penalties under the Superannuation Industry (Supervision) Act
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Have not been insolvent under administration or an undischarged bankrupt
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Have not been disqualified by a regulator (ATO or APRA).
Please consider the following strict rules that apply to setting up and running
an SMSF
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Are you eligible to perform the duties of a trustee?
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Are you aware of your responsibilities as a trustee?
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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 establishment of your SMSF and annual running costs worthwhile)
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Have you investigated how to establish an SMSF and are ready to get started.
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Have consulted a financial planner, accountant or lawyer about establishing an 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
Managing the paperwork for your SMSF can be time consuming
and complicated.
Cavendish are the SMSF experts and provide you with a competitive and efficient online solution for managing your SMSF investments as well as ongoing administration of your fund. Cavendish's online administration solution can help to:
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Spend more time managing your investments
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Simplify your administration and reporting
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Meet your obligations as a trustee
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Keep your SMSF up to date
What you'll get
Cavendish will take care of all the day-to-day paperwork for your SMSF so you can track your fund and investments via Cavendish's 24/7 online portal:
You will also have access to the following reports:
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Annual trustee financial statements
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Annual member benefit statement
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Income and regulatory return preparation and lodgement
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Business and instalment activity statements
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ATO PAYG registration and PAYG reconciliation and group certificates
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.
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They've worked in the superannuation industry since 1993 so they know their stuff
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They're the leading provider of SMSF services in Australia looking after 4500 funds and with $4.5bn of funds under administration
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They have the experience, knowledge and specialist superannuation expertise you need to get it right
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We call them the 'experts behind the experts' with clients including financial advisers, brokers and accountants
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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.
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.