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.

Does an SMSF do a Tax Return?

Does an SMSF do a Tax Return? A Self-Managed Super Fund (SMSF) has to prepare an annual tax return. The annual tax return is incorporated into the Self-managed superannuation annual return (SAR) which includes the tax return, regulatory information and information about each member.

The member information includes their contributions, member payments, rollovers in and out of the fund and the member’s balance at 30^th June. Furthermore, the member’s balance is broken down into the amount in accumulation and retirement phase (pensions) and a share of outstanding limited recourse borrowing arrangement (LRBA) which is reportable when the LRBA was entered into or refinanced after 1 July 2018 and:

with a related party of the SMSF; or
you have satisfied a condition of release (COR) such as turning 65 or 60 and over (not yet 65) and retired

Hint – reporting a share of the outstanding LRBA applies to all members when the loan is with a related party regardless of the member’s age. Reporting a share of the outstanding LRBA in relation to a bank loan is only required if a member has previously satisfied a COR.

First Year Lodging an SMSF Annual Return

A new SMSF preparing their SMSF Tax Return for the first time must lodge by the 28^th February when they are under a tax agent’s program. Otherwise, they must lodge by 31^st October.

Example – Eric’s new SMSF is under his tax agent’s program and the fund was established on 10 March 2024. The fund’s first return is due 28^th February 2025.

When can a Return Not Necessary be Lodged?

A new SMSF can lodge a “Return Not Necessary” (RNN) declaration if it has no assets. This typically happens when a fund has been registered as part of the establishment process towards the end of a financial year creating a timing difference between the registration of an SMSF and when assets are first set aside. An SMSF will generally open a bank account and deposit say $10 being a member contribution satisfying the requirement to set assets aside for a trust to come into existence. As the fund has been registered the ATO are looking for the SMSF to lodge their first SAR but when there has been no activity the fund must lodge an RNN. To be eligible the SMSF must provide evidence showing when it first held assets, such as bank statements indicating the first deposit. The trustee also commits to submitting future returns.

Cancel the fund’s registration

Alternatively, where the SMSF has no assets in the first year it was registered, it may be appropriate to advise the ATO that the fund was never established and the ATO will cancel the fund’s registration.

When is an SMSF required to be audited?

The SAR cannot be lodged until the auditor has issued an audit report. The SMSF auditor must provide an audit report to the trustees within 28 days after the auditor has received all necessary information to undertake the audit.

When must an SMSF appoint an Auditor?

An SMSF must appoint an auditor 45 days prior to the lodgement of its return per the ATO guidelines.

SMSF under a tax agent’s program

Generally, an SMSF’s lodgement date is the 15^th May and therefore the auditor is required to be appointed by 31^st March. An SMSF with a bad lodgement history may have to lodge earlier.

An SMSF self-preparer

A self-preparer must lodge by the 28^thFebruary. The SMSF auditor must be appointed by 14^th January.

SMSF with a bad lodgement history

An SMSF with a bad lodgement history may be required to lodge by 31^st October and therefore the auditor must be appointed by 16^th September.

New SMSFs

A new SMSF with a lodgement date of 28^th February 2025 must appoint an auditor by 14^th January 2025.

When does an SMSF pay the annual Supervisory Levy?

When does an SMSF pay the annual Supervisory Levy An ATO SMSF Supervisory Levy of $259 is payable annually. It is paid when the SAR is lodged. A new registered fund has to pay $518 covering the current and the next financial year. In the year an SMSF is wound up there is no supervisory levy payable.

Super Fund Lookup Status (SFLU)

The fund’s SFLU is a public register providing the current compliance status of your SMSF. The status is used by clearing houses, external employers and Apra funds to confirm if the SMSF is complying so they can make contributions to the SMSF or transfer member benefits.
https://superfundlookup.gov.au/

The SFLU has 5 status types being:

registered
complying
non-complying
regulation details withheld
regulation details removed

Lodging an SMSF SAR late, more than 2 weeks overdue, can stop your SMSF from receiving rollovers and employer contributions. The fund’s status will be shown as “Regulation details removed”. When the outstanding SAR is lodged the SFLU will be updated on the first day of the month or the 15^th calendar day of the month on the first business day following these dates.

Example – Tom’s SMSF lodged it’s 2024 SAR on 10^th June 2025. The fund’s lodgement date was 15^th May 2025. As the fund was more than 2 weeks late in lodging it’s SAR the fund’s status on SFLU was changed to “regulation details removed”. The status was changed to “complying” on Monday the 16^th June 2025 allowing the fund to receive rollovers and employer contributions.