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.

How do you become an SMSF Specialist?

Becoming an SMSF Specialist Advisor (SSA) is an important step if you want to have a career in the Self-Managed Superannuation Fund (SMSF) sector. SSA is a well-recognised industry-leading designation for a person working in the SMSF industry. On completion of the SSA program the participant will be included on the SMSF Association website via the search function “Find a Specialist”. The Directors of SMSF Australia are all SMSF Specialist Advisers.

Do you need to be an SMSF Specialist?

No, there is no requirement that you must be an SMSF specialist to work in the accounting industry and most accountants do not specialise in the superannuation space. The general requirements to be a practising accountant include:

have a tertiary qualification which includes an accredited degree from a university or TAFE or undertake a professional foundation course.
undertake professional accreditation with a professional accounting body such as Chartered Accountants Australia & ANZ (CA ANZ), Certified Practising Accountant (CPA) or the Institute of Practising Accountants (IPA) which includes additional study with exams and work experience requirements.

Many accountants (including many of our team) who want to specialise in tax and the SMSF space also complete training through The Tax Institute of Australia.

Why would you want an SMSF Specialisation?

An SMSF specialisation is an important industry recognition of the skills and knowledge attained and is sort after in the financial planning and advisor sector as well as for SMSF auditors and SMSF accountants.

The superannuation laws and regulations (SISA) can be complicated and require people with specific superannuation experience, skills and knowledge to deal with and interpret the rules. Dealing with related party transactions, private unit trusts, valuation of assets and strategies in relation to pensions, death benefits, member benefit payments, limited recourse borrowing arrangements (Bare Trusts) and many more require a different set of skills than the average accountant is taught.

It is akin to seeing your local GP vs a cardiologist when you have blocked valves in your heart, both know the issue, but one will have a lot better understanding of how to fix it.

Becoming an SMSF Specialist

The professional body that administers SMSF Specialist Adviser and SMSF Specialist Auditors is the SMSF Association (SMSFA) which is an independent professional association representing Australian self-managed super fund sector supporting all SMSF professionals and SMSF trustees through education, research and advocacy.

The SSA program is an online program which must be completed within 12 weeks. It includes nine SMSF topics covering regulatory framework, contributions, investments, tax, member balances and preservation, member payments and payment standards, taxing member benefits and strategies for life events.

Each module has a short assessment and on completion of the modules the participant must undertake the relevant exam. A participant will fulfil 47 hours of SMSFA continuing professional development.

Completion of the SSA program allows a person who is studying to become a financial adviser at least one credit and possibly more towards their education requirements. The SSA examination also satisfies the knowledge requirements of RG146SMSF which is a minimum requirement for financial product advisers.

Eligibility Requirements

be an associate member of SMSFA which includes a person with a relevant tertiary qualification or registration as a tax agent with the Tax Practitioners Board.
SMSFA recommends that a participant completes the following prior to entering the program:
- At least two year’s experience providing advice and or services to the SMSF sector
- SMSF related work should be a minimum of 10% of the participants total work or at least working towards that
- Must be of good fame, integrity and character
For provisional financial advisers completing their professional year the SSA program counts towards their 100 hours of structured education and training
A provisional financial adviser wanting to specialise in SMSFs can complete the SSA program
A certified financial planner (CFP) is exempt from having to complete the 9 modules but is still required to sit the exam to obtain the SMSF Specialist Advisor designation

Ongoing CPD Requirements

An SMSF Specialist is required to complete ongoing Continuing Professional Development in the Superannuation space to remain a member of the association. This requires them to complete a minimum of 90 CPD hours per triennium (minimum 25 CPD hours in any one year) in areas relevant to the provision of advice on SMSFs. Learn more about the CPD requirements of SMSF Specialists on the association website here.