Yes, accountants can set up a Self-Managed Super Fund (SMSF), but there are important regulatory restrictions they must follow
What Accountants Can (and Can’t) Do When Setting Up an SMSF
Accountants are permitted to establish an SMSF for clients, but they cannot provide financial advice on whether an SMSF is suitable for a client’s personal circumstances. Financial advice can only be given by licensed financial planners or advisers holding an Australian Financial Services License (AFSL).
The Australian Securities and Investments Commission (ASIC) allows accountants to perform certain SMSF-related services under an exemption, provided they do not cross into regulated financial advice.
Key Restrictions for Accountants Setting Up SMSFs:
Can Do:
- Assist with SMSF establishment (trust deed, ABN/TFN registration, etc.)
- Provide tax and compliance guidance.
- Handle SMSF accounting, auditing, and annual reporting.
Cannot Do:
- Recommend whether an SMSF is right for you
- Suggest specific investments for your SMSF
- Provide strategic financial advice on superannuation
If you need advice on whether an SMSF suits your financial goals, you should consult a licensed financial adviser.
Why We Don’t Provide SMSF Financial Advice
At SMSF Outsourcing Services, we specialize in SMSF administration, compliance, and accounting—not financial advice. Here’s why:
1.Avoiding Conflicts of Interest
- If we only offer SMSF services, we’d naturally be biased toward recommending them.
- A licensed financial planner can give you unbiased advice on all super options (SMSF, industry funds, retail funds, etc.).
2.Regulatory Compliance
- Only AFSL holders can legally advise on investments and superannuation strategies.
- We stick to what we do best—SMSF setup, tax, and compliance—while leaving advice to the experts.
How to Check If Your Accountant Is Qualified to Set Up an SMSF
Before engaging an accountant for SMSF services, verify their credentials:
1. Tax Practitioners Board (TPB) Registration
All accountants providing SMSF services must be registered with the Tax Practitioners Board (TPB).
2. SMSF Specialist Accreditation (Optional but Recommended)
Some accountants undergo additional training with:
- SMSF Association (for SMSF specialists)
- Chartered Tax Adviser (CTA) designation via The Tax Institute
These qualifications indicate deeper expertise in SMSF compliance and taxation.
Need an SMSF Accountant ? Here’s How We Can Help
If you’ve already decided an SMSF is right for you, we can:
- Set up your SMSF (trust deed, ATO registrations, etc.)
- Handle ongoing accounting, tax, and compliance
- Ensure your fund meets all legal requirements
If you’re unsure whether an SMSF suits your needs, we can refer you to a trusted financial planner for a Statement of Advice (SOA).
Why Choose Us?
TPB-registered tax agents (Verify our registration: TPB Search)
Experienced in SMSF establishment and compliance
Transparent pricing—no hidden fees
Final Thoughts
Accountants can set up SMSFs, but they cannot advise on whether one is right for you. If you need guidance, Book a meeting Now With Us.
