Last updated on June 9, 2026
Do I need an SMSF Toolkit?
Generally not, most accounting firms including SMSF Australia will provide all the ‘toolkit’ items as part of their fixed annual SMSF fees or as part of the setup of a new Self Managed Super Fund.
What is an SMSF Toolkit
The number of new self-managed super funds (SMSF) being established continues to increase. In accordance with the ATO statistics, there are 646,168 SMSFs with over a trillion dollars of assets. The SMSF market is huge. As a result, there are a lot of businesses selling template toolkits (generally a collection of simplistic template documents) to ‘help’ SMSF trustees manage and operate their legal and compliance obligations.
The following are examples of documents included in templates or toolkits being offered to SMSFs, sometimes costing hundreds of dollars for documents trustees would otherwise receive for free as part of the accounting process:
- SMSF Deeds
- Investment Strategies
- Transfer Balance Cap (TBC) Calculators
- Electronic Service Addresses (ESA)
- Pension Establishment Documents
- Lump Sum Payments
- Contributions Reserving
Also keep in mind that any template needs to include input by the SMSF trustee. Especially, the fund’s investment strategy which cannot be outsourced. We can guide you through the process personally. Of course, we cannot advise you on fund investments, but we are able to advise you on compliance with the SIS legislation.
Setup Fixed Fee
Our setup costs for a new SMSFs are $2,000 plus GST and include the fund’s trust deed, corporate trustee company, optional binding death nominations, trustee minutes, member applications, electronic service address, ATO trustee declarations and an investment strategy template. Our costs also include our time in assisting you to cut through all of the red tape.
SMSF Deed
The deed is a legally binding document creating an SMSF. An SMSF is a trust structure with a set of rules governing how the trustee/s manage and operate the SMSF on behalf of the beneficiaries being the SMSF members. The SMSF trust deed and governing rules are binding unless there is a conflict with the superannuation laws and regulations (SISA).
Investment Strategy
All SMSFs must have an investment strategy which is reviewed annually. There is no strict format, but strategies must address investment risk, return, diversification, liquidity, the ability to discharge the fund’s existing and prospective liabilities and whether the trustees should hold insurance cover for its members.
Binding Death Benefit Nomination
A binding death benefit nomination directs who receives a SMSF member’s super benefit after their death, provided it complies with the fund’s trust deed. It is an important part of estate planning and should be reviewed by a SMSF specialist lawyer to ensure legal and SISA compliance.
Corporate Trustee
A corporate trustee is a company which acts as trustee of the fund. The members are the directors of the company. A single member fund can have a corporate trustee with a single director. The company is governed by its constitution, which outlines its operational rules, and is regulated by the Australian Securities and Investments Commission (ASIC). An SMSF sole purpose trustee company pay a reduced ASIC fee which is $70 from 1st July 2026 compared to $342 for a standard proprietary company.
Electronic Service Address (ESA)
An ESA is an electronic address which is not unique to your SMSF. It is used in conjunction with the fund’s ABN and is required when an arm’s length employer makes contributions to an SMSF or rolling super balances between SMSFs or to other regulated super funds. It is provided free of charge through our specialised super software when SMSF Australia administers your SMSF and is “smsfdataflow” all lowercase and one word.
Ongoing Compliance
Ongoing compliance costs depend on whether your fund is considered a basic, complex or very complex fund with our fees ranging from $1,300 + GST for basic administration to from $2,000 + GST for very complex funds. We will let you know in advance before commencing any work.
The following are included as part of the fixed fee charged by SMSF Australia for your ongoing SMSF compliance:
Transfer Balance Cap (TBC) Calculators
We will calculate your personal TBC and the balance you hold in your transfer balance account. The general TBC is the maximum amount an individual can have in pension mode (retirement phase) which was $2mil from 1 July 2025. The ATO record the movements in and out of pension phase from across all superannuation pension balances. Your personal TBC is established based on the general TBC applicable at the time you commence a retirement phase pension. Any entitlement to future indexation of the general TBC is calculated by multiplying your unused cap percentage by the general TBC index increase.
Pension Establishment Documents
It is crucial to formally record the member requesting a pension establishment. The trustee/s must consider if the member is entitled to commence a pension and agree to the member’s request and must provide a confirmation letter to the member with the details of the pension.
Lump Sum Payments
Similar to above a member must request a lump sum payment and the trustee must consider whether a member is entitled to it and pay it to the member with a letter of confirmation.
Contributions Reserving
This involves a strategy where a member makes a concessional contribution in June but wants to allocate it to July resulting in a tax deduction personally (refer to link below) or for the employer in the same year of the contribution, but the contribution is not allocated to the member in the fund’s financial accounts until the next financial year. This means the contribution is not counted against the member’s contribution cap until the following year. It is crucial to ensure the proper request and trustee minutes are prepared to ensure compliance with SISA and the tax act.