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 claim a tax deduction when I contribute to my SMSF?

Yes, you can claim a tax deduction for contributions made to your self-managed super fund (SMSF) if you meet certain eligibility requirements such as:

satisfying age and work conditions
having enough taxable income to offset the deduction
consider the concessional contribution cap
making a valid notice of intent to claim a superannuation contribution deduction (NOI), often referred to as a s290 election
trustee acknowledgement of the NOI

Satisfying Age and Work Conditions

There are certain conditions which must be met before being eligible to claim a tax deduction for a super contribution which include:

Under 18 – a person must receive income from being an employee or in the receipt of business income.
Aged 18 to 66 – there is no work test
Aged 67 to 75 – a person must meet a work test or be eligible for a work test exemption.
A person turning 75 can make a concessional personal contribution up to 28 days after the end of the month in which they turn 75 i.e. a person turning 75 on 10 February 2025 can make a personal contribution by 10^th March 2025 (including the 10^th March)

A personal concessional contribution cannot be made after you turn 75 except as per the above conditions.

Having enough taxable income

Superannuation deductions can’t create a taxable loss or increase a tax loss in a member’s personal tax return.

Consider the concessional contribution cap

Can I claim a tax deduction when I contribute to my SMSF? Concessional and non-concessional contributions caps apply to personal contributions. Concessional contributions include personal contributions where a member elects to claim a superannuation tax deduction and employer contributions including compulsory super, SGC and salary-sacrifice arrangements.

Concessional contributions are assessed against the concessional cap which is $30,000 for the 2025/26 year. There are some special rules allowing an individual to make “catch up” contributions where they have total super balance less than $500,000 at the prior 30^th June. An individual may claim unused carried forward concessional contributions from the previous 5 years which is in addition to the annual concessional contribution cap.

Otherwise, personal contributions are non-concessional contributions and assessed against the non-concessional cap of $120,000 for the 2025/26 year.

Making a valid s290 election

After contributing to your SMSF you must do the following:

The member sends the SMSF trustee a notice of intent to claim a personal super contribution deduction (NOI), often referred to as a s290 notice, stating the amount of the contribution they intend to claim in their tax return.
The ATO have a standard form which can be used. It is not compulsory but includes all of the information required. ATO Notice of Intent to Claim personal super contributions
The trustee acknowledges and confirms the members intent to claim a tax deduction by sending the member a formal confirmation notice.

Completing a Notice of Intent to Claim a personal superannuation contribution deduction

The timing of providing a NOI to your SMSF trustee is crucial and will be the earliest of the events below. A valid NOI must be given to the SMSF trustee on or before the following events:

the day you lodge your personal tax return i.e. it will be the 1^st May 2026 if this is the date you lodge your 2024/25 tax return, and it includes a claim for superannuation contributions deduction
by the 30^th June i.e. in relation to your 2024/25 tax return the date is 30^th June 2026

When a trustee cannot accept a Notice of Intent

A NOI or variation cannot be accepted if it has not been received and acknowledged by the trustee before the following event has occurred:

a SMSF member has exited the fund
a pension is established which includes the contribution
a lump sum payment or a rollover to another fund includes the contribution
a spouse has made a valid contributions-splitting election

We can assist you with providing an NOI and the trustee acknowledgement as our specialised software produces both of these forms.

Trustee acknowledgement of the Notice of Intent (NOI)

A personal tax deduction can be denied if the SMSF member does not receive an acknowledgement from the SMSF trustee confirming the NOI is valid. The NOI cannot be revoked but it can be varied.

A variation is permitted only in relation to an existing notice and is limited to reducing the amount of the personal contributions being claimed as a tax deduction; it cannot be used to increase the deductible amount. However, the ATO allows an individual to submit a new NOI to claim the additional amount of the contribution they wish to claim as a tax deduction provided it was not previously claimed in the prior notice.

The variation or a new NOI must meet the timeframes and other eligibility criteria to be accepted. An exception is where the ATO have denied a tax deduction because a tax loss would have been incurred or increased provided one of the other events have not occurred.

Example 1 – Successful super contribution deduction claimed

Fred made personal contributions of $16,000 to his SMSF on the 10^th January 2025. He also made $9,000 on the 28^th June 2025. On the 29^th June 2025 he gave his SMSF trustee a NOI form stating he intended to claim $10,000 as a superannuation contribution deduction in his personal tax return for the 2024/25 year.

The trustee acknowledged the valid NOI and provided Fred with a signed confirmation on the 29^th June 2025. Fred lodged his tax return on the 31^st August 2025 and claimed $10,000 as a super contribution tax deduction.

This was a valid NOI and acknowledgement by the trustee and Fred successfully claimed the tax deduction.

Example 2 – Variation of NOI after tax return lodged

Similar details to example 1 except Fred’s taxable income was only $6,000. The ATO denied the claim for a personal super contribution deduction as it would create a taxable loss. Under this circumstance Fred is allowed to vary the NOI down to $6,000 even though he had lodged his tax return.

Example 3 – ATO denies super contribution claimed

Similar details to example 2. In addition, Fred commenced a retirement phase pension on 1^st July 2025.

Fred was denied a tax deduction for $10,000 as he was ineligible to vary the NOI as a variation would be made after he started a pension which is not allowed.

Hint – If the ATO denies a tax deduction as per example 3 the contribution remains a non-concessional contribution which may affect the member’s non-concessional cap and the tax free amount of the new pension.