Frequently Asked Questions
Trustee Resource Hub
Frequently Asked Questions
Xpress Super is a trusted and independently owned SMSF Administrator provided launched by parent company, SuperGuardian. With decades of experience, SuperGuardian saw the need for a low cost administrator who are passionate about SMSFs and supporting Trustees.
Xpress Super is a one-stop shop for SMSF administration. We provide establishment and transition services as well as ongoing and wind-up services.
Being an online provider, we service clients around Australia. Our head office is located in Adelaide and we do have serviced office capabilities in Melbourne.
A key aspect of the Xpress Super service is our investment and platform restrictions. By operating within this scope, we can rely on automated processing by our systems which are backed by data feeds from our product providers. A key component to selecting these providers is auditing their data feeds for quality and reliability. Due to these efficiencies, we can minimise external costs such as software and audit. The savings are then passed onto our clients via our below-average fees.
Please visit our fee schedule page.
No, our fees are not calculated based on your fund balance or how frequently you trade so knock yourself out!
When considering whether an SMSF is right for you, you should consider the initial opening balance of the SMSF, and whether it is sufficient to meet and justify the setup and ongoing costs. Xpress Super has a minimum balance requirement of $200,000 for SMSF establishments as part of our commitment to providing quality service and ensuring the long-term viability of the SMSF sector. Where Xpress Super accepts an engagement, we are not providing an opinion or recommendation that an SMSF is right for you. For this, we encourage you to speak to a financial adviser.
Great question! Please visit our Why Choose Us page.
A cancellation fee applies if you cease to use our services in the first 12 months of the engagement.
Beyond the 12-month period, no cancellation fee applies.
Please visit our Terms and Conditions for full details.
This question will depend on your own circumstances. To ensure that you can make a well-informed decision, we have prepared a fact sheet comparing the two structures which we recommend you review. If you are seeking advice on this matter, we recommend speaking to a financial adviser.
Yes, to comply with our Know-Your-Client and Anti-Money-Laundering obligations, we do require a copy of your current identification such as a driver’s license.
Upon receiving the online engagement form submission, we will be in touch within 1 business day to notify you of the next steps. From there, Xpress Super completes all tasks within 2 business days during the establishment process.
The biggest factor in establishing the SMSF is the ATO’s approval and turnaround times. We monitor this regularly and follow up to ensure the quickest possible establishment times for our clients.
Once the fund is established, we follow up the bank account activation and can then notify you to begin organising your rollovers.
No, Xpress Super are unable to initiate a rollover into your SMSF. As SMSF administrators, we do not seek transactional authority on behalf of the SMSF. We view initiating transactions as the role of the trustee (you) or a financial adviser (if you appoint one).
You can either reimburse yourself for the establishment costs or allocate as a contribution. This will happen when money becomes available in the SMSF either by way of the first rollover or a contribution.
Xpress Super invoice annually in advance (in July), and fees are debited directly from your SMSF bank account. Our fees are then applied on a pro-rata basis during the financial year, in line with our continuous services.
Your Electronic Service Address (ESA) is smsfdataflow. We will provide you with a document in your welcome pack which can be forwarded to your employer.
Yes, we certainly do!
To provide you with a quote for any prior or current year work, we ask the following questions:
- What will be the first financial year for Xpress Super to take over your SMSF administration?
- What investments does your fund hold?
- How many bank accounts does the fund hold and who are they with?
- Who is your share broker?
- If your fund has a corporate trustee, would you like Xpress Super to handle the annual obligations with ASIC?
We will review the investments held by the fund and provide you with a quote via email.
Yes, we have an ethical obligation to notify them of our appointment as the tax agent.
Beyond that, if you authorise us to do so we will liaise with them to obtain your SMSF records.
Yes, we can provide services to update this at your request.
Please refer to the ATO website here.
SMSF members can utilise a number of contribution types and strategies to maximise their retirement wealth. The most common contribution types used include concessional contributions (including employer SG amounts, salary sacrifice amounts and personal deductible contributions) and non-concessional contributions (personal after-tax contributions). They can also use strategies such as carry forward concessional contributions, bring forward non-concessional contributions, downsizer contributions and more.
You can request your employer to direct your employer SG and salary sacrifice amounts into your SMSF. To make personal contributions into your SMSF you can execute this by simply depositing funds into the SMSF bank account. This can be done via online banking, cheque or otherwise.
Personal deductible contributions are amounts that a member has contributed to their superannuation from their personal savings. The amount contributed can then be claimed as a tax deduction in their personal tax return, providing a current day tax benefit!
SMSFs can invest in a wide variety of investments, including but not limited to:
- Cash and term deposits
- Bonds
- Australian listed shares and ETFs
- Managed funds
- Residential and commercial property
- Precious metals
- International listed shares and ETFs
- Collectibles
- Crypto investments
Please check out our investment options page for more information and any limitations we impose.
SMSFs pay tax at a standard rate of 15% on investment income and other assessable income such as concessional contributions.
SMSFs are required to pay capital gains tax. These amounts can be offset against capital losses, and for investments held over 12 months, a 1/3rd discount on the gain is also available.
SMSF members can commence a pension after reaching their preservation age, or satisfying a condition of release. If a member has simply just met their preservation age, they are eligible to commence a transition to retirement pension (TTR or TRIS). If a member satisfies a condition of release, they are eligible to commence a retirement phase pension.
A transition to retirement pension allows a member to withdraw between 4 and 10% of their account balance each year. An SMSF will continue to pay tax at 15% where a transition to retirement pension is in place.
A retirement phase pension allows a member unrestricted access to their superannuation, meaning they can withdraw up to their full account balance. Retirement phase pensions enjoy a reduced tax rate of 0%, providing an SMSF a very favourable advantage come tax time.
You can make pension payments by simply contacting your SMSF bank, or using online banking to initiate the transfer to your personal bank account. Pension payments must occur at least once per year, but can be taken on an ad-hoc basis or in regular intervals such as weekly or fortnightly.
A director identification number (director ID) is a unique identifier that a director will keep forever. It is intended help prevent the use of false or fraudulent director identities.
A director ID is a 15-digit identifier given to a director (or someone who intends to become a director) who has verified their identity with the ABRS.
It is free to apply for, there are no ongoing or registration fees.
New directors appointed on or after 5 April 2022, must apply for a Director ID prior to their appointment.
Individuals are required by law to apply for a director identification number (director ID) prior to becoming a Director as of the 5th of April 2022.
Failure to have a director ID when required to do so can incur penalties of up to $13,200 (criminal); and $1,100,000 (civil).
Individuals need to apply for a director ID if they are a director of a:
- company registered with the Australian Securities and Investments Commission (ASIC) or the Office of the Registrar of Indigenous Corporations (ORIC).
- corporate trustee, for example of a self-managed super fund (SMSF).
- registered Australian body, for example an incorporated association registered with ASIC, like sporting clubs that trade outside of their state or territory.
- charity or not-for-profit organization that is a company or Aboriginal and Torres Strait Islander Corporation.
There are three options:
- Online application: An Online Application can be initiated by clicking this link.
- Phone application: A Phone Application can be undertaken by calling the ABRS on 13 62 50 or via their call back service on 1300 306 275.
- Paper-based application: A Paper-based application can be arranged for by contacting the ABRS via phone, they will then issue a paper-based application to you via email or postal mail as it is not available on the ABRS website.
Looking to Establish an SMSF or Transfer an existing SMSF?
Talk to one of our experts, we’re here to help!
We are open: Monday – Friday 8:30 AM – 5:00 PM (ACST)
Adelaide
65 Gilbert Street
Adelaide SA 5000
