Who we are
Online Super Fund is an accounting firm which specialises in SMSF administration. With Online Super Fund you can cost effectively establish and administer a SMSF.
A SMSF allows you to take back control of your superannuation – by allowing you to be directly involved in the investment decisions of your SMSF. We believe it is currently prohibitively expensive for a large number of people with low superannuation balances to start a SMSF, with most SMSF accountants and administration providers charging accounting fees of $1,500 or more.
This was our motivation for starting Online Super Fund – to create a low cost, high quality SMSF administration provider which would make it affordable for everyone to take back control of their superannuation.
What we provide
When you sign up with Online Super Fund, a qualified SMSF specialist accountant will be assigned to your SMSF and will personally help to establish your SMSF (if required), prepare the annual accounts for your SMSF and handle the administration requirements of your SMSF. We will work with you to help you maintain your SMSF as a ‘complying’ superannuation fund.
With Online Super Fund, you will have the peace of mind that the administration of your SMSF will be taken care of for a fixed annual administration fee. When you choose Online Super Fund you are not only choosing someone to help with the administration of your SMSF, you are choosing a partner who understands your needs as a SMSF trustee.
In saying this, we are accountants and so our focus is on the annual tax and compliance obligations of the SMSF. This is only one aspect of running a SMSF and so we recommend you seek appropriate financial or legal advice as required if you need specific investment or strategic advice for your SMSF.
We do place restrictions on the type of investments which can be held by SMSFs under our administration. With Online Super Fund, you can only invest in one or more of the following:
- Cash accounts (with any bank)
- Term Deposits (with any bank)
- ASX Listed Securities
- Managed Funds
However, under our service you are free to hold unlimited investments and have unlimited transactions (fair use policy applies) within your SMSF, provided you only invest in the above investments.
Before choosing Online Super Fund as your SMSF administrator it is important that you carefully consider these investment restrictions. You should ensure that these investment restrictions do not prevent you from complying with the investment strategy of your SMSF.
Where we do our work
You can be assured that no SMSF under our administration will be sent overseas for processing. All our work is performed in Australia by qualified and experienced SMSF professionals, which allows us to ensure the quality and confidentiality of your SMSF administration.
How we can provide a low cost service
We have spent a lot of time and money implementing the latest technology and creating process efficiencies that result in a significant reduction in the time required to complete the annual administration obligations for your SMSF. We pass these cost savings directly onto our clients, which enables us to provide our low cost SMSF administration service.
However, low cost does not mean low quality at Online Super Fund. We will fully utilise the extensive knowledge and experience of our staff when preparing the accounts and tax returns of your SMSF to ensure you meet your administration obligations.
Online Super Fund does require you to take a more ‘hands on’ approach to your SMSF than if you had an industry or retail superannuation fund. You should ensure you understand your obligations and responsibilities as a SMSF trustee before establishing an SMSF (we can provide further information on this if you require).
The application process
- Seek financial advice to ensure that a SMSF is suitable and appropriate for your specific circumstances;
- Fill in our online application form (see Apply);
- Online Super Fund will send you an engagement letter to review which sets out the terms and scope of our services;
- If you are happy to proceed, return a signed copy of the engagement letter and arrange for payment of the $200 establishment fee;
- Online Super Fund will provide you with an establishment pack which will include all of the documents necessary to establish your SMSF;
- Return all signed establishment documents to Online Super Fund; and
- Online Super Fund will then register the SMSF for an ABN and TFN.