How It Works - Frequently Asked Questions

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Frequently Asked Questions

We've worked tirelessly to answer some of our most common questions.

Our most Frequently Asked Questions have been documented below.

Both! We recently expanded our processes to support both new SMSF establishments and existing SMSFs who are looking to save money on their accounting fees.

If you have an existing SMSF, the onboarding process will take a couple of days. If you are setting up a new SMSF with our service, expect it to take 1-2 weeks.

We charged a fixed fee of $29.99 Per Month.
This fee covers the annual compliance which includes the accounting and audit fee as well as the legal documents.

Should you wish to transfer money into an SMSF, there are rollover forms that we will send you in the initial pack which need to be completed and sent to the existing super funds that you belong to.

Generally speaking, the super fund that you are looking to roll money out of will send the funds out as a cheque within 30 days. However if the form has not been filled in correctly it could delay the process

This is very dependent on what investments you have, and when the relevant information is available. This will most likely be between July and March.

We currently set up our new clients with the current platforms, however please note do not restrict our clients in any way. If you already have an existing SMSF, we will not restrict any investments that we onboard so long as they are compliant with the ATO and in line with your investment strategy. We use the following platforms:

1. Online Trading (Macquarie)
2. Bank Account (Macquarie)
3. Term Deposits (Australian Money Market)

Please see this ATO link for an explaination of the requirements for being a member or trustee.

The trustees of the SMSF control the SMSF in it’s entirety. CloudSuper has no control over your SMSF.

We will send you an invitation to join after your fund receives money into the account from rollovers or contributions.

Once we have received the signed documents, it should be set up within 2 business days.

 
 

By taking advantage of economies of scale and technology. We use fully automated data feeds which makes our processing job a lot easier. We also have strong relationships with our software platform and our legal provider which means we can pass on all these savings to you.

 
 

We are strongly against termination fees or cancellation fees. There are no termination or cancellation fees that we impose.

 
 
 

We have no set up fees that we charge.
However should you wish to set up an SMSF with a corporate trustee, ASIC fees will apply.

Client Testimonials

I highly recommend this no nonsense, efficient team." - John S, NSW
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