a question for you accountants, page-30

re: diy super Lizwelsh

You post is a classic example why YOU SHOULD PAY someone who knows what they are doing

Yes you can down load and lodge a form 201 from the ASIC for $800.00 however this does not supply you with the various minutes, share certificates and other details required. These documents are not difficult to produce yourself but can creat problems if not done properly

Considering most self company providers charge around $200.00 over the ASIC fees to provide all of these ducuments correctly completed and the corporate register it is not much to pay to ensure things are done properly.

This though has NOTHING WHAT SO EVER to do with setting up a SMSF which can not be done through the ASIC.

A SMSF requires a trust deed which can not be obtained from the ASIC or the ATO, a SMSF also DOES NOT HAVE directors it has trustees. The truste can be a company even if it is a sole director share holder company, but all members of the fund must be directors. Or the trustess can be individuals in this case there must be 2 trustees even if it is a sole member fund.

The ONLY forms you can obtain from the ATO are TFN and ABN/GST registration.

If there are any errors in the SMSF's deeds or the associated minutes required to establish the fund you run the risk of the fund being deemed non complying