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 sell SMSF property to my son or daughter?

Can I sell SMSF property to my son or daughter Absolutely. There is no prohibition on who a SMSF trustee can sell an SMSF property to. However, there are some rules to consider before your SMSF sells property to a related party which include your son or daughter. A residential property which generally cannot be acquired from a related party can be sold to a related party.

Interestingly, your son or daughter can also include an adopted child, a stepchild, an ex-nuptial child, your spouse’s child or a child within the meaning of the Family Law Act 1975.

Of particular concern are the arm’s length rules under the superannuation laws (SISA) and the taxation laws. A transaction involving a related party is scrutinised by SMSF auditors and the Australian Taxation Office (ATO).

Arm’s length means the transaction between two parties do not favour either party which is characterised by independent parties who act in their own self-interest and are not influenced by the other party. Auditors get very concerned when a SMSF sells a property to a member’s child and seek independent evidence of the market value of the property being sold.

Under SISA the concern is when a related party transaction is less favourable to an SMSF than the other party. Selling SMSF property to your child well below market value would breach the SISA rules under section 109. However, on the flip side when a SMSF sells property for an inflated market value the sole purpose test could be breached and under the taxation laws the transaction is viewed under the non-arms length income provisions (NALI).

Per the ATO website “Any NALI forms part of the non-arm’s length component (NALC) of the SMSF’s taxable income which is taxed at the highest marginal tax rate” which is currently 45%. Calculating the NALC can be complicated so please seek advice from your SMSF Specialist or Tax Agent.

Example – Fred’s SMSF owns a residential property and his son, Peter, wants to purchase the property as his residence. The property had been held by Fred’s SMSF for more than 12 months. Fred is keen to get more money into his super fund and gifts Peter part of the purchase price. The property is sold to Peter for $2million. However, the SMSF auditor has determined that the true market value was only $1.5million. The cost base of the residence was $1.25million. The capital gain to Fred’s SMSF was $750,000 which reduced to $500,000 after the 1/3 discount was applied (assuming no capital losses). The true net capital gain if both parties had been dealing with each other at arm’s length was $166,667.

There is a scheme resulting in more income being derived by Fred’s SMSF than would have been expected under the transaction. NALI applies to $500,000 net capital gain and is included as part of the NALC in the fund’s tax return.

Hint – Obtain an independent market valuation from a qualified valuer when selling SMSF property to your child. This type of valuation is very unlikely to be queried by your SMSF auditor or the ATO.

Other Considerations

Can I sell SMSF property to my son or daughter Review the fund’s trust deed and governing rules to ensure there are no limitations placed on this type of transaction. Of course, always review and update the fund’s investment strategy if required. Selling SMSF property should be part of the fund’s investment strategy ensuring the transaction is made in the best interest of the members to provide for their retirement.

Your SMSF needs to consider the capital gains tax consequences for the disposal of the property. Has the property been held longer than 12 months to obtain the 1/3 discount? Is the fund in pension mode which can potentially save tax on the disposal? Will a capital loss be incurred and if so, can the SMSF utilise it to save tax on other capital gains?

Consider how your SMSF will reinvest the consideration received from the disposal of the property.

Stamp duty is always an important factor to consider. Stamp duty is paid by the purchaser, but your son or daughter will be impacted by the specific state or territory legislation where the property is situated.

Can I sell SMSF property to my son or daughter?

Other Considerations

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