SMSF Associated Cost

The cost of setting up a SMSF is not the only key information you need to investigate. The annual running costs of your SMSF are more important to the long-term viability of your SMSF than the set-up costs, and will have a greater impact on your investment returns and the size of your superannuation account over time. The upfront or establishment costs will be determined on whether you have an individual trustee or a corporate trustee but we always recommend a sole purpose corporate trustee. If you use a Corporate Trustee, it should be no more than $1,000 to 1,500 to setup inclusive of the $479 ASIC Incorporation Fee. These are just the pure basic costs of the legal documentation required to establish the fund and register it as a Complying Super Fund and apply for an ABN and TFN.The ongoing administration cost will be determined by the complexity and size of your fund and you will be paying your Account Keeping fee, to get your tax return. You will be paying the Audit fee, because you are now the trustee so you need to get an audit every year. The total of fees should not exceed $2,000 per annum if you have a simple fund and online providers are bringing the costs down dramatically with a $79 – $189 per month fee covering Admin and Audit. If you have a more complex Fund, you can expect to pay around $2500 – $5000 per annum but these costs are being driven lower with the use of data feeds and competition from online administrators. Be mindful before choosing your administrator as some of the better providers are becoming lower cost as well.

SMSF Auditor Fees schedule is mentioned on our website. Please review our SMSF Audit Process to book and SMSF Auditor.