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.

What age can you take any amount out of your self-managed super fund?

Turning 65 gives you access to all of your super in your self-managed super fund (SMSF). Otherwise, you can access super before you turn 65 but there may be some limitations on the amount that can be accessed or limits on how it is accessed based on whether the member has met a condition of release.

Eligibility to access super before turning 65 include:

a SMSF member reaching the age of 60 starting a transition to retirement pension (TRIS)
being 60 or over (but under 65) and retired
meet eligibility requirement for early release of super
death benefits are a special category which can allow a much younger beneficiary to receive superannuation payments

At 65 there are no restrictions which means you are able to take all of your super as a lump sum payment or an account-based pension or a mix of both. You can elect to leave your money in the super system as there is no requirement to withdraw super. In fact, the only time your superannuation balance is compulsorily required to be cashed out or withdrawn is when you die.

At 65 you can access your super whilst still working and accumulating even more super.

There is no personal tax on a superannuation lump sum or a pension payment after you turn 60.

Tip– check your SMSF trust deed to ensure there are no restrictions on withdrawing super which are otherwise allowed under the superannuation and tax laws.

Transition to Retirement Pension (TRIS)

Transition to Retirement Pension A TRIS is designed to allow a member to transition to retirement by accessing super before turning 65 or retiring. It is meant to top up a member’s income as they reduce their working hours in preparation for their retirement.

The pension payments from a TRIS are tax free as a member is eligible to access a TRIS when they reach their preservation age which is 60. Pension payments from super are tax free when a member is 60 or older regardless of taking a TRIS or a retirement phase pension.

The contrast with an account-based pension which is classified as a retirement phase pension for tax purposes include the following:

a TRIS does not count towards a SMSF member’s transfer balance cap (TBC) – all of your super can be used to fund a TRIS as there is no $1.9 million cap which is the general TBC for 2025 financial year
the income from a TRIS is not tax exempt in a SMSF
the member is subject to a 10% maximum pension payment limit (measured at 30^th June from the prior year based on the member’s TRIS balance or the date of establishment if started part way through a year)
a TRIS is unable to be partially commuted (withdraw a lump sum)

Transfer Balance Cap- is the maximum amount a member can have in retirement phase pensions (non-TRIS) across all of their superannuation balances– refer to our blog “What happens if I have more than 1.9 million in super?”

Tip – at 65 your TRIS will automatically transfer to retirement phase which may not be desirable depending on how your TRIS is structured. It is crucial to seek advice prior to turning 65 please contact your SMSF Specialist.

Turning 60 and Retired

Retirement Turning 60 can free up all of your super if you are also “retired”. You can be permanently retired where you never intend to work again in the future after you turn 60 or you can cease gainful employment after turning 60.

Ceasing gainful employment – you do not work for 10 or more hours in a week for wages or in your own business, receiving commissions or being paid for being a director of a company.

Early Release of Super

There are various grounds where super can legally be accessed before turning 65 or retiring. Each specific ground requires the member or dependant to meet certain eligibility criteria.

Please refer to our resources page on paying benefits. The following are some of the more significant grounds.

Compassionate grounds allow you to withdraw super to pay for such things as medical treatment, medical transport, special house or vehicle modifications, palliative care, funeral expenses as well as preventing a forced sale of your home. This is only available if the member does not otherwise have the financial capacity to meet those costs.

The ATO must approve the release of super benefits under compassionate grounds.

Terminal medical condition

All of your super benefits can be released if you have an illness or injury which would likely result in your death within 24 months after being certified by two registered practitioners. Lump sum payments are made tax-free to the recipient under the terminal medical condition release terms.

Severe financial hardship

A member suffering from severe financial hardship may access part or all of their super benefits if they are 60 or older. Expenses such as the costs of accommodation, food and essential travel or living costs may be eligible.

The maximum amount of relief for a member under 60 in any one year is $10,000 less applicable tax based on it being a superannuation lump sum payment.

A member who is 60 or older can access all of their super benefits but the eligibility requirements differ to a member under 60.

Temporary Incapacity

Generally, allows a SMSF trustee to release salary continuance payments to members when they are physically or mentally ill and unable to work for a temporary period.

Permanent Incapacity

“a member of a superannuation fund or an approved deposit fund is taken to be suffering permanent incapacity if a trustee of the fund is reasonably satisfied that the member’s ill – health (whether physical or mental) makes it unlikely that the member will engage in gainful employment for which the member is reasonably qualified by education, training or experience.”

Generally, the acceptable evidence of this is to obtain certificates from two legally qualified medical practitioners confirming the above.

Please seek advice from your SMSF Specialist in relation to the eligibility requirements when seeking early release of super.

Death Benefit Payments

When a member dies their super benefits automatically satisfy a condition of release. Thus, the death benefits are accessible by the deceased member’s beneficiary who can be a younger spouse or even a young child. The tax consequences of the payment depend on if it is a death benefit lump sum or a death benefit pension payment and the age of the death benefit beneficiary and the deceased member.

Tip– generally an adult child cannot receive a death benefit pension