The Ultimate Guide to Establishing a Self-Managed Super Fund (SMSF): Process, Costs, and Compliance

If you're managing a Self-Managed Super Fund (SMSF) in Australia, your investment strategy isn't just a document for compliance—it's your fund’s financial GPS. The ATO requires all SMSFs to maintain an investment strategy that reflects the fund’s purpose and the personal circumstances of its members. But what separates a compliant strategy from a truly effective one? Let’s break down what you must know—and why many trustees are now rethinking their approach in 2025. An SMSF investment strategy isn’t just a formality—it’s a legal requirement under the SIS Act. But beyond ticking the compliance box, a strong strategy helps: Align fund activities with retirement goals Set clear investment parameters Avoid costly diversification or liquidity issues Prepare for smooth audits And here’s something often missed: The ATO expects evidence that trustees actively review and update their strategies in response to major fund or market changes. 6 Critical Components ...

You’ve probably heard the saying “cash is king,” but did you know that a staggering 82% of business failures are due to poor cash flow or lack of financial understanding? That’s not just a scary stat—it’s your cue to get your accounting practices in order this year. If you’re running a business in Australia in 2025, here are some must-know best practices that’ll help you stay compliant, competitive, and in control.  Keep Your Bookkeeping Clean and Timely Think of your bookkeeping system as the GPS of your business—it helps you track where your money’s going and where it should go. Use software to automate invoicing and payroll Categorise your expenses clearly Reconcile accounts regularly It’s not just about recording numbers—it’s about knowing your financial story. Switch to Cloud Accounting Gone are the days of desktop-only software. Cloud platforms like Xero, MYOB, and QuickBooks offer: Real-time updates Better team collaboration Secure, anytime acces...

If you’re managing your own super through an SMSF (Self Managed Super Fund), you already enjoy more control than most Australians over your retirement savings. But with great power comes great responsibility—and that includes staying on top of increasingly complex regulations. From trustee duties and tax implications to residency rules and investment restrictions, SMSFs operate under a web of legal and financial compliance that isn’t always easy to navigate. A misstep could lead to penalties or loss of concessional tax status. Here’s a high-level look at key SMSF rules and obligations every trustee should understand—plus a few critical details you’ll definitely want to explore further on our full blog . 1. What is an SMSF, Really? An SMSF is a private super fund you manage yourself—either as an individual trustee or director of a corporate trustee. But it’s not just a personal savings account. It’s a trust governed by the SIS Act (1993) and regulated by the ATO. Each trustee is l...

The words “mandatory ESG reporting” are creating a buzz across boardrooms and CFO meetings in Australia. By 2025, ESG reporting will no longer be optional for many Australian businesses. With regulatory changes just around the corner, the time to prepare is now —but the question is: Are you ready for it? Let’s unpack what’s changing, why it matters, and what your business should be doing (before it’s too late). What’s Driving the ESG Shift? For years, ESG disclosures in Australia were largely voluntary, guided by ASX principles. But things are about to get serious. With global standards like GRI , TCFD , and ISSB gaining traction, Australia is set to align more closely with international frameworks. The new rules mean companies will be expected to:  Disclose climate-related financial risks  Report on social and governance factors  Align with internationally accepted ESG frameworks But here’s the kicker: This isn’t just for the big players. While large corporatio...

The Australian Accounting Standards Board (AASB) plays a critical role in maintaining financial transparency, ensuring that businesses, investors, and regulators operate within a standardized framework. These standards align with International Financial Reporting Standards (IFRS) and set the foundation for credibility and comparability in financial statements across industries. But who exactly needs to comply? And what are the key implications of these standards? Let’s dive in. Who Must Follow AASB Standards? AASB compliance is essential for various entities, including: Publicly listed companies – Required to follow strict disclosure rules. Large proprietary companies – Must meet specific financial thresholds. Government agencies – Essential for transparency in public spending. Not-for-profits – Helps ensure donor accountability and financial clarity. Superannuation funds – Vital for accurate reporting of member contributions. For some businesses, compliance is mandatory; for ot...