SMSF Accounting and Audit Fees
SMSF Australia’s accounting and audit fees are fully transparent and shown in detail on the pricing table further down the page. Note that all jobs are quoted before we start so you have full visibility of the fees before they are incurred. The short version of our annual holistic SMSF accounting costs are:
- Basic SMSF Annual Returns (defined as including investments such as local and international listed shares, managed funds, any bank accounts, wrap investments, term deposits etc) costs $1,300+GST per year which includes the independent audit costs
- Complex SMSF Annual Returns (defined as including non-data fed investments requiring more manual work such as direct property investments, gold bullion, cryptocurrency, collectable assets, annual BAS for GST registered funds etc) costs $1,600+GST per year which includes the independent audit costs
- Very Complex SMSF Annual Returns (defined as including unique unlisted investments such as cars and artwork, private lending from your SMSF to third parties, contraventions such as illegal withdrawals from an SMSF, NFT investments, option trading, or more than three direct property investments) starts from $2,000+GST per year which includes the independent audit costs
See the price comparison table below to which different investments are covered under each pricing bracket
SMSF Price Comparison Table
| Annual Pricing | Basic Fund | Complex | Very Complex |
|---|---|---|---|
| Total fees (including Accounting, Audit & Software) | $1,300 + GST | $1,600 + GST | From $2,000 + GST |
| Compliance | |||
| Annual Financial Statements | Yes | Yes | Yes |
| Annual Compliance Documents | Yes | Yes | Yes |
| Dedicated SMSF Accountant | Yes | Yes | Yes |
| Annual SMSF Audit | Yes | Yes | Yes |
| Lodgement of Annual SMSF Tax Return | Yes | Yes | Yes |
| Class Super Annual License Fee | Yes | Yes | Yes |
| Annual BAS (For GST Registered Funds) | Yes | Yes | Yes |
| Investments Included | |||
| Bank Accounts/Term Deposits/Cash Savings | Yes | Yes | Yes |
| Listed Shares (Australian & International) | Yes | Yes | Yes |
| Managed Funds, Wrap Investments | Yes | Yes | Yes |
| Direct Property Holdings | No | Up to 2 Properties | 3+ Properties |
| Cryptocurrency Investments | No | Yes | Yes |
| Precious Metals/Bullion and other Collectable Assets | No | Yes | Yes |
| Unlisted Assets, Private Loans, Foreign Assets (non listed), Derivatives, Non-Fungible Tokens, Warrants & Options | No | No | Yes |
| Contraventions, Illegal Early Access and other Legal Breaches | No | No | Yes |
Additional Fees/ Add-ons
- Quarterly BAS (For GST Registered Funds who decline to use the Annual BAS option which 99% of funds do): $180 + GST per lodgement
- Actuarial Certificate (oncharged at cost): $99 + GST
SMSF Pricing – Fixed Quotes
We believe in being transparent with our SMSF costs and will always quote you in advance for all Self Managed Super Fund works, which will be fixed except in the case of audit issues or contraventions. The general fees listed are subject to change, but we will always inform you of any variations and seek your written approval prior to commencing work so you never have to deal with unexpected bill shock.
We will confirm what level of complexity applies to your fund prior to commencing work. The reason we need to charge more for complex funds is due to the higher audit costs caused by certain investments such as unlisted private company shares.
We are happy to assist trustees who are behind on their obligations and complete multiple years of backlog at once but please note that there is no discount for multiple years as the costs are all the same from our perspective and we are actually more likely to have to spend time on ATO queries on funds which are behind in their lodgements as it is a red flag for the tax office.
SMSF Setup Fees
The costs of setting up a new SMSF Setup, Corporate Trustee, Class Software & Rollovers: $2,000+GST
- $636 – ASIC Fee for Setup of special purpose Corporate Trustee.
- $400 – Legal fees for SMSF Deed.
- $250 – Class Super First Year Fee.
- $714 – Accounting fee for setup, create initial audit file, investment strategy, rollover funds, complete ABN and TFN applications and preparation of files you’ll need to open the bank account.
The cost of setting up of a Bare Trust in order to get a mortgage in an SMSF environment including corporate trustee, legals etc: $1,400+GST
These fees are accurate for the current financial year and can be reimbursed to the client from the SMSF once the setup is completed if the client so chooses
Do you want to learn more about our SMSF Pricing?
Give us a call on 1300 392 544 or get in touch online.
SMSF Australia Payments
Terms
We offer two packages either reactive or proactive. Both of these packages cost the same but our reactive offering is where you pay for the annual work once completed at the end of the year while our proactive offering is in advance. Either way payment must be received in full prior to us being able to lodge your returns with the tax office.
The advantage of our proactive service is this allows us to keep your SMSF up to date monthly which assists trustees who need:
- Ongoing real time reporting for planning or pension purposes.
- Quarterly TBAR lodgement deadlines.
Methods
All the usual payment methods are available, including:
- Electronic Funds Transfer (EFT) Payments directly from the Fund (recommended).
- Payment via MasterCard or Visa incurring a 2% credit card levy.
- Cheque/cash payments.
Our terms are generally seven days from the date of invoice, but we are happy to discuss payment arrangements in exceptional circumstances.
If you are ever in a position where you cannot meet our standard payment terms, one of our friendly team will be happy to discuss your options with you.