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 I buy shares via CommSec in an SMSF?

Yes, an SMSF can sign up for a Commsec account which can be used to buy and sell shares and/or options. Generally, a special type of Commonwealth Bank account is opened when setting up the fund’s CommSec share trading account called a CDIA, as it is more efficient with no monthly fees or ongoing charges when settling trades. CommSec offers low-cost trades from $5 for trades up to $1,000. There are no minimum or maximum balances required in the CDIA.

How can my SMSF invest using CommSec?

Step 1 – Set up a new SMSF if you don’t already have one. We can help you to set up an SMSF online in a quick and easy process.

Step 2 – Open a CommSec share trading account (CommSec)

Step 3 – Link the SMSFs CommSec account with the SMSF cash account – can be a Commonwealth Direct Investment Account (CDIA)

When opening up a new CommSec account, your SMSF needs:

The name of your SMSF fund, i.e. “Fred Jones Family SFD”
The fund’s Australian Business Number (ABN) and Tax File Number (TFN)
If the SMSF trustee is a company, you need the company name, i.e. “Jones Super Pty Ltd” and Australian Company Number (ACN)
Names and contact details for all trustees or directors of the trustee company

We will provide you with a summary of all the details you need as part of the SMSF Setup process.

Know your Customer (KYC) requirements

In accordance with the requirements of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF), CommSec is required to identify customers and maintain up-to-date details. Each member of the SMSF may need to provide more than one of the following initially, if you are a new customer, and when changes are made or from time to time otherwise:

Australian Driver’s License with photo ID
Medicare Card
Passport
Australian Birth Certificate

What can SMSFs invest in using CommSec?

An SMSF can invest in a diversified portfolio, from one trading account, including:

Listed Australian companies
trade in Exchange Traded Funds (ETFs) on the ASX or other sharemarkets such as Nasdaq
term deposits
US stocks and shares along with associated ETFs
access to 12 additional international sharemarkets, i.e. Hong Kong, Japan, UK, Canada

Can my SMSF account link to my accountant’s software?

We use the Class platform to process our SMSF transactions. An automated feed will be set up to access trading details and cash transactions from CommSec and CDIA. This enables error-free, fast, and efficient processing. It is very easy to set up – we generate an authority from Class and send it to you for signing, we then send it to CommSec, and the data is loaded automatically within ten business days.

How can my SMSF access CommSec trading?

An SMSF can trade using CommSec, including:

online from the CommSec website
download the CommSec app

How can my SMSF access the CDIA?

An SMSF can access the CDIA by:

internet banking
CBA branch
telephone

End of Financial Year Reports

The auditor will want confirmation of the fund’s portfolio at 30 June, which can be obtained online from the appropriate share registry. Broker statements provide confidence in the fund’s investments, but the share registry provides independent third-party confirmation. Class software can be linked to a number of Australian share registries that support audit evidence of holding balances and ownership at 30 June. The class function allows an auditor to verify the Holder Identification Number (HIN) or Shareholder Reference Number (SRN).

Other SMSF Trading Platforms

SMSF Australia does not endorse or suggest any particular broker and supports clients using other providers as well as Commsec including Interactive Brokers, Selfwealth, and many others.