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 hold my SMSF’s Crypto in a Cold Wallet?

Can I hold my SMSF's Crypto in a Cold Wallet?

Definitely you can hold your SMSF’s cryptocurrency assets in a cold wallet. If using a crypto exchange your SMSF is subject to their policies. The exchange platform may already operate cold wallet storage or may allow your SMSF to select its own cold wallet storage.

What is a cold wallet?

A cold wallet is also commonly known as:

hardware wallet
on-chain wallet
cold storage wallet
self-custody wallet

A cold wallet is a physical device that uses USB or Bluetooth to connect to a computer or smartphone for managing crypto transactions. The device is only connected to the internet when you attach it to your computer or phone to make crypto transactions.

A cold wallet does not store your crypto assets. It does store your private key which is a unique alphanumeric string which links you to your blockchain or crypto address which is also known as a public key.

Can a cold wallet support multi crypto currencies?

A single currency wallet handles one type of cryptocurrency, while a multi-currency wallet manages several cryptocurrencies for easier tracking and valuation. Using a crypto exchange gives SMSFs easy access to portfolio reports, market valuations, transaction histories, and evidence of ownership across all crypto assets.

Cold wallet security

Storing private keys via a cold wallet is considered to be highly secured and minimises or in some cases can eliminate the risk of being hacked when using the internet. If the wallet is lost or destroyed a seed phrase is able to restore your private key in a new wallet to access your crypto assets.

How does a seed phrase help if I lose my cold wallet device?

A seed phrase is a master back-up made up of 12 to 24 random words generated at the time a crypto wallet is setup. Your seed phrase should be stored in a secure place or risk losing your crypto assets.

How does a cold wallet differ from a hot wallet?

Hot wallets store private keys similar to cold wallets. A hot wallet is connected to the internet with exposure to cyber threats from hackers and vulnerable to phishing and malware threats, but they are convenient especially when SMSFs have frequent transactions. Using a cold wallet is less convenient with large volume of trading as there are additional steps such as connecting the device or importing the private key. It is not unusual to use a combination of cold and hot wallets to obtain the efficiency of a hot wallet and the long-term security of a cold wallet.

Hint – Additional layers of security are constantly being developed and should be considered when acquiring a cold or hot wallet.

What is a custodial wallet?

A custodial wallet is typically utilised by a digital currency exchange. A user relies on the exchange to keep their private keys secured. The exchange controls the SMSF’s private key and therefore controls the fund’s crypto assets. Whilst the fund gives up control a platform registered by AUSTRAC is heavily scrutinised to ensure financial theft, fraud and scams are prevented. Security of crypto assets is the no. 1 priority of a digital currency exchange. Independent third-party audits of their internal processes are carried out regularly to ensure customer accounts are not compromised. Other layers of security include:

two-factor authentication (2FA)
multi-factor authentication (MFA)
identity verification of SMSF members and corporate trustee
advanced cryptography to secure transactions
monitoring of transactions to flag high risk or suspicious transactions
policies to encourage the use of strong passwords
a majority of private keys are kept in cold wallet storage

Deciding to use a digital currency exchange can provide convenience and ease of use and security is constantly being monitored and upgraded but ultimately an SMSF trustee must ensure the fund’s assets are maintained and secured to provide for the members retirement.

Does holding SMSF Cyrpto in a Cold Wallet Cost More?

SMSF Australia’s prices do not change if you choose to use a custodial wallet or a cold wallet for your cryptocurrency investments. We believe the storage and security measures used for your SMSF investments are best left to you as the trustee to decide and that you should not be penalised with fees for your choice.