No. You can just withdraw a portion of your retail super to allocate to a SMSF if you wish
Frequently asked questions
Am I stuck with New Brighton Capital if I set anything up through you?
No. New Brighton Capital has no control over your funds or assets and there are no lock in contracts. If you wish to move to another provider, just provide us their details and we will forward any relevant records to them so they can take over.
How long does it take to set up a SMSF?
While we can establish your SMSF within 24 hours, it can take some time to get ATO approval, open a bank account and receive your rollover. On average, you can expect to have funds in your SMSF bank account ready to invest within 2 weeks. However, hold ups can occur. See Set Up Time Frames on the NEED TO KNOW page for more information on possible delays.
How do I get started?
Before setting up your SMSF check out the NEED TO KNOW and Pricing page. If that all makes sense, then you can set up your SMSF by filling in the form HERE. If you would like more info, just call or email us via the contact page or book in a time that suits you for a free no obligation chat.
Find your lost super
Watch this video on How to Find Your Lost Super.
Learn how to find your lost superannuation in 3 steps.
- Create a myGov account
- Link myGov account to the ATO
- Look up all super accounts attached to your TFN
How does an SMSF work?
A self managed super fund is similar to your normal retail super fund, however, you are the fund manager and the member of the fund. New Brighton Capital looks after the tax reporting and compliance side of things and you are free to focus on building your portfolio. New Brighton Capital does not provide recommendations in regard to SMSF assets.
What are trustees of a SMSF?
In a SMSF, the trustees are the people (or company) who controls the money in the fund on behalf of the members.
Who are the members of a SMSF?
In an SMSF the members are the people whose money is being managed. You can have up to 4 people as members in a self managed super fund.
What is a Corporate Trustee
A corporate trustee is the company that is responsible for your SMSF. All our SMSFs have corporate trustee set ups. All members of the fund are also directors of the company.
There are many benefits of having a corporate trustee and some of these benefits include:
- you can have a 1 person fund.
- banks may require a corporate trustee if you ever want to own real estate in the fund.
- limited liability as the company is a separate legal entity.
- easier separation of trust’s assets and personal assets because they are held in different names.
- simpler succession and control of the trust in the event of the death of one of its directors (a corporate trustee does not cease upon the death of one of its directors)
- a lot easier to bring people into and out of the fund.
- tax savings when passing assets onto beneficiaries.
SMSF Structure
Directors and members
Each SMSF has directors who control the company.
Each director is also a member of the fund.
Company
The company is entrusted to make the investment decisions for the benefit of the members of the SMSF.
SMSF
The SMSF is the entity that holds all the assets and the accounts relating to the members’ investments.
Structure of accounts example
Where to get more information?
For more information relating to SMSFs see our NEED TO KNOW page or BOOK IN YOUR FREE 20 MINUTE CONSULTATION to have your questions answered by one of our friendly team.