SMSF Accountants Sydney | SMSF Administration Services

SMSF Accountants Sydney

SMSF Accountants Sydney

Self Managed Super Funds are loved by many Australians due to the flexibility and freedom they provide their members. SMSF’s allow trustees to take their retirement into their own hands and manage their money consistent with their own investment beliefs and strategies.

SMSF’s can invest in numerous asset classes including direct property, unlisted and listed shares, private loans, bullion and other precious metals, managed funds, unit trusts, cryptocurrency and in some circumstances even collectables. It is this fundamental flexibility and freedom that has enticed over a million Australians to setup an SMSF.

At SMSF Australia, our SMSF Accountants Sydney love all things super related! We use the Class Super platform to manage our clients’ compliance needs by keeping the financial records up to date. This dedicated software allows for data feeds and automation tools which helps decrease the costs of compliance while giving near real time information on which you can make decisions. Our team has built our own automation focused toolkit on top of the Class Super platform ensuring we can offer a service of unparalleled technical excellence while keeping the fees reasonable for our clients.

If you are at the beginning of your super journey and have decided to proceed with an SMSF Setup the next steps can seem daunting, but we can manage the setup process for you from start to finish. We can also help you understand the obligations and rules imposed by the ATO on the management of Self Managed Super Funds where you are, in effect, the controller of your future self’s retirement funds.

Sydney Team

Our staff are accredited SMSF Accountants with decades of experience in the SMSF space having chosen to focus their careers on this one niche area. Our firm includes proud chartered accountants and members of the Tax Institute of Australia which is the independent body representing and training accountants and lawyers who focus on the technically challenging but crucial areas of taxation and superannuation. 

Our team also boasts a number of staff and directors accredited Chartered Tax Advisers showing their specialist knowledge of all things tax. When dealing with SMSF Australia you have the confidence of knowing you are not working with jacks of all trades but specialists who are passionate about working in the super sphere and experienced handling complex super scenarios, dealing with tax office queries and difficult compliance matters.

We are also fortunate to have a practising SMSF Lawyer on our board who specialises in the superannuation field able to assist clients who have tricky legal issues crop up with their SMSF. This intersection of expert legal and accounting advice allows SMSF Australia to handle complex issues with relative ease and efficiency.

Tax Practitioners Board Registered

Contact Us

 If you’re interested to discover how we can help with your superannuation needs please reach out for a confidential quote. Simply submit your details and one of our friendly team of SMSF accountants in Sydney will be in touch as soon as possible. 

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Do you want to learn more about our SMSF Accounting Services?

Give us a call on (02) 8246 7256 or fill in the form above

Contact Us

 If you’re interested to discover how we can help with your superannuation needs please reach out for a confidential quote. Simply submit your details and one of our friendly team of SMSF accountants in Sydney will be in touch as soon as possible. 

Contact Us Sydney


SMSF Accounting  

SMSF Australia assists with the entire lifecycle of a self managed superannuation fund from the initial setup through to eventual wind-ups. The team is passionate and experienced in guiding clients through the entire process while assisting them to keep compliant which providing ongoing tax advice to ensure 

All our work is completed based on a fixed price model as we aim to provide transparency to our clients throughout the process. If you choose to work with us we will review your file before we start work and provide you with a no obligation quote on what it will cost to complete the work on an annual basis. Our general fees as a guide are below:

  • Basic SMSF Annual Returns including Audit and Software Costs
  • Complex Fund including Audit and Software Costs
  • Very Complex Fund including Audit and Software Costs
    No Set Price
  • Actuarial Certificates are on charged at cost, currently
  • Setup of a new SMSF, Corporate, Class Software & Rollovers

Superannuation Fund Audit Services

It is a legal requirement that SMSFs are audited annually by an independent, ASIC registered SMSF auditor. This process includes a review of the following aspects of your fund:

  • Trust Deed
  • Investment Strategy
  • Compliance Documents
  • Financial Reports
  • Tax Return
  • Supporting Documents

We assist with the entire audit process organising an independent auditor, providing the pre audit works and liaising with them to minimise any compliance issues.

SMSF Tax Returns

Delivered as part of the standard accounting services each year, super funds must submit a tax return to the Australian Taxation Office. The return is based on the financial year being 1st July through to 30th June and speaks to the financial position and performance of the fund along with the balances of the members accounts. The return cannot be lodged without an independent auditor’s report confirming that the fund has maintained compliance with the plethora of compliance rules and obligations governed under the Superannuation Industry (Supervision) Act 1993.

For compliant SMSFs with a good history with the tax office this return is generally due for lodgement by the 15th of May the year following the end of financial year. For first year super fund returns these generally have a shorter window for lodgement being due the 28th February as the government will tend to pay more attention to a new fund in its first year to ensure the fund is on top of it’s new obligations.

SMSF Trust Deeds

A self-managed super fund is setup using a specialised legal document know colloquially as an SMSF Deed. This deed is prepared by a lawyer and outlines the powers of the trustees, the structure under which the fund will operate and how it will be run. Most importantly this deed must meet the requirements of the Superannuation Industry (Supervision) Act 1993. This document requires expert advice and should be regularly reviewed by a lawyer to ensure it adequately meets the current super laws and remains compliant. This is one of a range of services we offer without additional charge under our annual pricing model to help you make running your self-managed superannuation fund as easy and simple as possible. 

If you are unsure if your deed is up to date please get in touch with one of our friendly team in Sydney and we would be happy to review your documents and ensure they are suited for your needs along with our ongoing SMSF Administration services. 

Frequently Asked Questions

How much does it cost for an SMSF Setup in Sydney?

The total cost of setting up an superannuation fund in Sydney is $2,000+GST.

This fee is inclusive of everything you need to get the fund setup, the existing funds rolled over, the ESA to receive contributions and everything 100% ready to go. In detail this includes:

  • ASIC fee for setting up a corporate trustee
  • Class Super annual platform fee
  • Legal costs associated with the creation of the SMSF Deed and corporate paperwork
  • Accounting costs for establishment of fund, setup of the electronic service address and the fund on the Class Super platform, ATO registrations and the rollover of any existing super accounts into the fund.

SMSF Setup in Sydney – The Process

If you have made the decision to proceed with a self managed super fund please reach out to one of our SMSF team and we can assist you to complete the process:

  • Select the name you would like to call the Super Fund and its Corporate Trustee. Although SMSF’s do not need to have unique names the corporate entity does so you will need to check on ASIC if the name you would like is available. We recommend something simple such as “Name SMSF Pty Ltd” although you can choose almost anything provided it is not profane or already taken.
  • Complete our form providing all your personal details and providing Photo ID Documents for identity verification.
  • Pass us over the details of any existing superannuation accounts you would like us to organise to roll over into your new SMSF.
  • Unless you already have a Directors ID Number you will need to apply for one with ASIC prior to being able to submit the corporate trustee setup. For more information about the Director ID Setup process please check out this link.
  • Keep in mind there is an element of legal work associated with setting up an SMSF and to deliver that we partner with a specialised legal firm who complete the deed and associated paperwork.
  • Once everything else is done we apply for your tax office registrations including your TFN & ABN. These are usually instant but, in some circumstances, the government can choose to investigate the application further and this will delay the process There is absolutely nothing that can be done to expedite these although they are very rare.

Can I purchase property in my SMSF?

To answer simply, yes.

However, there are certain legal obligations that your fund must meet in order to legally hold property in the fund:

  • It must be allowed for by your investment strategy
  • Property held within an SMSF cannot provide benefits to its members before their retirement, this means you cannot live in a property or have a family member live is a property owned by the SMSF.
  • A commercial property may be able to be used by a related company provided it is at market rates and zoned correctly.
  • Property holdings have a number of unique tax implications and may increase the time it will take to administer the fund. We recommend the use of a property manager to help ensure that independent investment reports are available.
  • When your fund reaches pension phase there may be challenges in meeting your minimum draw down requirements if too much of the fund’s assets are held in illiquid properties. 

For more information about a specific property purchase please remember we’re here to help so reach out to one of our friendly Sydney team for a free consultation.

Can my SMSF borrow money?

Only in very specific circumstances using a Limited Recourse Borrowing Arrangement. It is worth keeping in mind it is becoming increasingly expensive to get a mortgage in an SMSF since the Royal Commission as the big four banks in Australia have pulled out of the SMSF lending space. This means if you are seeking to borrow within your SMSF then you will have to go to a second-tier lender who tend to have higher interest rates and fees. This doesn’t remove property as one of the investment options open to super funds but does increase the costs associated usually by 1-2% above standard mortgages. This additional cost for property investments needs to be weighed against the potential for wealth creation, investment income and tax benefits. Keep in mind although we are happy to assist clients to purchase real property our job is solely to ensure it is compliant and tax effective, we do not assist with investment decisions or retirement planning. This area is reserved for AFSL holders or corporate authorised representatives who help you navigate investment portfolio allocation and allocations of retirement savings. Our role as lawyers and accountants is separate and different although we are happy to work collaboratively with your financial planning team as needed. 

Cryptocurrency and SMSFs?

You are allowed to invest in cryptocurrencies in your SMSF, provided that it is outlined in the investment strategy. It is important to note that the exchange account holding the coins must be in the name of the fund and not under a personal name. From a tax point of view keep in mind that the ATO treats all cryptocurrency exchanges as a taxable event regardless as to whether you converted back to fiat currency.  For more information about the rules around Cryptocurrency please reach out to one of our friendly SMSF Accountants Sydney.