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 you Sell your House to your SMSF?

Can you Sell your House to your SMSF Possibly but probably not.

As a member of your SMSF you are a related party. The superannuation laws prohibit a SMSF from acquiring assets from a related party. An exception applies to property which is used wholly in a business. The use of the house determines if it meets the definition of business real property which can be acquired from a member of a SMSF.

What do you use your house for?

Is the house your place of residence?

If so, you can’t sell your house to your SMSF unless it is a “farmhouse”.

A farmhouse which you live in and is part of primary production land on which you or somebody else is carrying on a primary production business may be acquired by your SMSF provided the area of the farmhouse and surrounding private areas are no more than 2 hectares (approximately 5 acres). For more information checkout our page on how an SMSF can buy a farm.

Is your house a residential property which is not part of carrying on a business of renting residential properties?

If your house is a beach house or a holiday house or a residential investment property you cannot sell your residential house to your SMSF.

Is your house used in a business?

Can you Sell your House to your SMSF Is your house used as a business

If your house is used 100% in a business which can be your business or somebody else’s business your SMSF may be able to acquire it under the Business Real Property exemption. The superannuation laws do not require the property to be zoned commercial to meet the definition of business real property. If it is wholly used as say a hairdressing salon, an accountant or lawyer’s office or some other business it is business real property even if the house is zoned as residential.

A residential property which is part of a business can be business real property. Refer to the ATO website to learn more about carrying on a residential rental business. Carrying on a business of letting rental properties

Non-Arms’s Length Income (NALI)

Consideration of the non-arm’s length income (NALI) provisions are required to ensure market value is paid between the related parties. If you sell your property to your SMSF below the market value or lease the property from your SMSF above market rates or pay rental expenses which should be paid by your SMSF can trigger the NALI provisions resulting in your SMSF paying tax at 45% on the net rental income and possibly on the future capital gains on disposal of the property.

Valuing Your Property At Market Value

A house you own which can be sold to your SMSF (eg. One that counts as Business Real Property) must be valued at market value to ensure the transaction is at arm’s length.

When selling your house to your SMSF a fair market value is best determined by an independent qualified valuer.

Other Considerations

How is the property to be funded?

You need to consider how the purchase is to be funded which could be via cash, in-specie contribution or borrowings using a SMSF Bare Trust or limited recourse borrowing arrangement (LRBA).

Part cash and in-specie contribution

Possibly a combination of an in-specie contributions and cash from the fund. Per LCR 2021/2 (draft) the ATO identified a mismatch between the cash paid and the market value of the property which may result in a NALI issue. Per the ATO example below it appears they accept there is no NALI issue provided the cash, and the in-specie contributions are identified as two separate interests in the property.

Example from the ATO LCR 2021/2
Example 5 – part purchase and part in specie contribution at market value – not NALI
38. During the 2023–24 income year, Nadia owns commercial premises that she leases to a third party which use the premises to carry on a business. The commercial premises have a market value of $500,000. Nadia would like to transfer it to her SMSF, but her SMSF only has $400,000 in cash. Nadia’s SMSF purchases 50% of the commercial premises under a contract from Nadia for $250,000. Nadia makes an in specie non-concessional contribution of the remaining 50% interest in the commercial premises (valued at $250,000). The acceptance of the in-specie contribution by Nadia as trustee of the SMSF is recorded by her in writing and the market value of the in specie contribution is reported in the SMSF’s accounts. The SMSF reports the non-concessional contribution to the ATO.

The contract to purchase cannot also cover the in-specie contribution portion. Typically, a purchase contract includes the full price of the property which is funded part by cash and part by the in-specie contribution. The ATO are flagging that the contract cannot include the in-specie contribution portion as this is not part of the purchase. It is a transfer of interest to the SMSF from a member and is not a contract to sell that part of the property interest to the SMSF.

Fund’s Investment strategy and trust deed

The fund’s investment strategy should be updated to include the acquisition and ensure the trust deed allows the acquisition of the property.

Who is the tenant?

Is your business going to be the tenant? If so an external valuation of the rental terms and conditions are required to be obtained and included in a formal lease agreement and the rent paid in accordance with the lease agreement. If it is a home to live in then it can never be rented to yourself or an associate.

Obtain advice from your SMSF Specialists or your Licensed Financial Adviser when considering selling your house to your SMSF. The rules are complex and if you get it wrong the financial repercussions can be significant.