How much does SMSF Australia charge for annual SMSF accounting?

SMSF Australia offers three fixed-fee annual packages: Basic Fund at $1,300+GST (listed shares, managed funds, ETFs, term deposits), Complex Fund at $1,600+GST (adds direct property up to 2, cryptocurrency, precious metals), and Very Complex Fund from $2,000+GST (unlisted assets, private loans, derivatives, NFTs, 3+ properties). All packages include the independent SMSF audit at no additional cost.

Is the SMSF audit included in the annual fee?

Yes. The independent SMSF audit is included in all three annual fee packages — Basic, Complex, and Very Complex. It is not charged as a separate add-on.

Can SMSF Australia service my fund if I am not in the same state?

Yes. SMSF Australia operates nationally across all Australian states and territories. All client meetings and services are conducted via Zoom — there is no requirement to be near a physical office.

How much does it cost to set up an SMSF with SMSF Australia?

The SMSF setup fee is $2,000+GST, which covers corporate trustee establishment (ASIC fee $636), SMSF trust deed ($400), Class Super first-year licence ($250), ABN and TFN applications, investment strategy preparation, and rollover coordination.

Does SMSF Australia provide financial advice?

No. SMSF Australia does not provide financial planning or investment advice. Services are limited to SMSF accounting, tax, audit, compliance, and legal matters.

Can an SMSF Use DeFi Platforms or Tokenised Assets?

An SMSF can legally use a decentralised finance (DeFi) platform and invest in tokenised assets. However, superannuation laws (SIS) make these investments complex and compliance difficult.

Under the new Digital Assets Framework, amending the Corporations Act 2001, Digital Asset Platforms (DAPs) and Tokenised Custody Platforms (TCPs) were added as financial products. Effectively, this means a DeFi platform or a central exchange platform (CEX) providing tokenised assets will most likely have to operate under an Australian Financial Services Licence (AFSL) from 9 April 2027, regardless of the offshore structure, unless it falls under the small-scale platform exception.

What is a decentralised finance platform (DeFi)?

DeFi is a decentralised financial system that enables peer-to-peer transactions, cutting out banks and brokers as traditional intermediaries. It uses blockchain technology and cryptocurrency (primarily Ethereum and Solana), with smart contracts defining transaction terms and conditions.

DeFi is an emerging platform that provides lending and borrowing services, cryptocurrency trading, derivatives and synthetic products, savings and interest-bearing products, and insurance (for risks associated with smart contracts and protocols). It is largely unregulated and considered volatile and high risk.

Decentralised exchange platforms (DEXs) are part of the DeFi ecosystem. Tokenised assets can be traded through DEXs. Rules and regulations for DeFi differ worldwide. In Australia, when a DEX trades tokenised assets, it will need an AFSL from April 2027, and consumers will therefore have greater protections.

What to look for in choosing a DeFi platform

DeFi platforms are global. There are a number of characteristics to look for when choosing a suitable protocol, including:

The protocol undergoes an annual security audit.
Strong total value locked – an indicator only of liquidity, the amount of capital users are willing to leave in a protocol and how well it is being adopted.
Longevity – has it been around for at least 2 years or more?
Has strong governance

Red flags can include a high-yield offering that sounds too good to be true, new or unaudited protocols, and manual cash transfers.

Hint – Any DeFi platform is considered high risk and should only be used after obtaining advice from the fund’s financial advisor and an SMSF accountant who can confirm whether the DeFi investment complies with SIS.

What is a tokenised asset?

A tokenised asset is digital proof that your SMSF owns a real-world asset represented by a token on a blockchain. Tokenised assets could, in the future, replace or at least enhance current ownership methods, such as deeds, title, and copyright. Tokenisation enables digital proof of ownership and fractional ownership. However, fractional ownership of real estate in the Australian market is in its infancy, with a token representing beneficial ownership rather than direct legal ownership. A special purpose vehicle (SPV) legally holds and manages the real estate, with off-chain legal records. Limited regulation makes it susceptible to scams, and only a limited number of properties are currently available as tokenised assets. Taxation is not clear-cut.

Tokenised assets can include almost anything, such as:

Real estate
Precious metals
Art and collectables
Bonds, stocks and other traditional securities
Insurance policies and loans
Crops, livestock and farmland
Intellectual property

Tokenised assets can be Fungible or Non-fungible tokens (NFTs).

A fungible asset is interchangeable and can be swapped for the same kind of asset with the same value, and can include gold, government bonds, shares, commodities, and cash.

An NFT is a unique asset that cannot be replicated or fractionalised. NFTs are often digital images or music, real assets such as paintings or real estate (the digital tokens can be fractionalised, but the actual property is not interchangeable), rights, and even virtual world assets. Each asset has an embedded smart contract creating the terms and conditions of the transaction.

What SIS rules must an SMSF comply with?

Whilst an SMSF can technically hold tokenised assets on a DeFi or CEX, it must still ensure it does not breach the SIS rules, including:

Tokens cannot be acquired from a member of the fund, their relative or other related party
Ensure the acquisition is to provide for the member’s retirement and not for any other reason
NFTs may be classified as collectables and subject to stricter regulations about ownership, insurance, storage and use
Ownership – the SMSF must be recognised as the owner of the asset
An SMSF must ensure its assets are not commingled with assets owned by the trustees or directors of a corporate trustee
Valuation must be supportable – the valuation of tokenised assets can be difficult as there is not always a secondary market available
Evidence to support the fund purchased the asset and is able to view transaction history
The trust deed and the investment strategy must allow for the investment in tokenised assets

SMSFs face many complex practical challenges in holding tokenised assets and using a DeFi platform. The risk and additional compliance costs must be considered when acquiring these sorts of assets.

Taxation of DeFi income can be complex

Depending on the DeFi investment, transactions may be difficult to track, and taxing points may be missed due to a lack of transparency. Most DeFi protocols do not issue a tax statement, so your SMSF accountant will need to reconstruct transactions from on-chain data.