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 reimburse myself from my SMSF for the setup costs?

Can I reimburse myself from my SMSF for the setup costs Yes, the SIS regulation r5.02 (2) specifically allow a SMSF trustee to deduct the direct SMSF Setup costs of establishing the fund such as the fund’s trust deed, establishing a corporate trustee and the preparation of the initial investment strategy against the members’ benefits.

Are the setup costs of a SMSF tax deductible?

No. The setup costs are capital costs which are not allowable as a tax deduction to the fund.

What does an SMSF Setup Cost?

The total cost of an SMSF Setup is $2,000+GST. This fee is all-inclusive of everything you need to get the fund ready to go including ASIC, legal fees, accounting and getting any existing funds rolled over.

Timing of payment for fees incurred to set up a new SMSF

Typically, costs incurred to setup a new SMSF are incurred prior to the SMSF starting. As a SMSF is a trust it is not established until money has been settled and held in trust for the members of the fund. Generally, when the SMSF bank account is opened, and the first deposit is made is when the fund is established. The first deposit is the settlement sum which can be as low as $1.

Getting cash into your new fund can sometimes take a little longer than expected due to delays in rolling funds over from other super funds or delays in the ATO registering the fund.

Therefore, it is common for the setup costs to be paid by one of the members or a related employer company. Therefore, the establishment costs are allowed to be reimbursed by the SMSF when the bank account is established, and the fund has sufficient cash and there is no significant time lag.

What happens if the setup costs are not reimbursed to the member in a timely manner?

Can I reimburse myself from my SMSF for the setup costs Timely Manner

They can often be treated as a contribution from the member to the fund subject to the member’s eligibility and contribution caps. The fund’s SMSF deed must also be reviewed to ensure it does not prevent the setup costs from being allocated as a member contribution.

To recap

SMSF Setup costs can be paid from the SMSF
A member can pay the setup costs and be reimbursed from the SMSF bank account
The SMSF member reimbursement must be made in a timely manner
It may be possible to allocate the setup costs as a member contribution under certain circumstances