Fees
Get the best value for your SMSF
with our flat-rate fee structures
All fees are inclusive of an annual independent audit. SMSF fees include GST.
ASX
US Stocks
Property
Invest your super in property.
Looking for a customised solution?
Dedicated Support
Our experienced SMSF accountants are ready to provide personalised support for all your SMSF needs.
Less Paperwork
Our modern practices leverages on the latest technologies to make your SMSF paperless for your convenience.
Online Reporting
With just a few clicks, you'll be able to track you investments, contributions and pension limits or even make payment with ease.
Rest easy at night knowing that your SMSF is in good hands
Superstream Sorted
We ensure your SMSF can easily receive employer contributions and you can track what’s been deposited to your fund account easily online.
Specialist Advice & Support
Our experienced SMSF experts are here to help navigate the complex and constantly changing superannuation laws, to help ensure you stay off the ATOs radar.
GST registration
Your SMSF shall be registered for GST wherever it applies. This complimentary service allows your SMSF to claim GST on a wider range of fees and costs every year.
SMSF FEE
| NEW SMSF ESTABLISHMENET | |||
| $240 | SMSF Establishment – individual trustees | ||
| $630 | Trustess Company | ||
| $550 | SMSF’s Administation 1st year | ||
| SMSF Administration | |||
| FREE | Transfer existing fund, | ||
| FREE | BGL Simple fund Conversion | ||
| Digital Service ( bank accounts + listed shares) | Enhanced Service ( bank accounts + listed shares + properties) | Premium Service (bank accounts + shares + properties + borrowing ) |
|
| $990 | $1,200 | $1,500 | |
| Cost per month administration | $82.50 | $100.00 | $125.00 |
| Electronic Service address (ESA) | Included | Included | Included |
| for 12-20 listed shares or assets – additional | $330 | $330 | $330 |
| for 21 – 30 listed shares or assets – additional | $900 | $900 | $900 |
| for 21 – 30 listed shares or assets – additional | $1,140 | $1,140 | $1,140 |
| Prepare Statutory Account | Included | Included | Included |
| Pro-forma SMSF Tax Return | Included | Included | Included |
| ASIC Agent for Corporate Trustee | $110 | $110 | $110 |
| Technical Support | Free | Free | Free |
| Crytocurrency Invested SMSF | $330 | $330 | $330 |
| ATO and ASIC Fees | Fund to pay | Fund to pay | Fund to pay |
| Independent Annual Audit by 3rd party | $390 | $390 | $390 |
| Residential Property Valuation | Free | Free | Free |
| IF Required | |||
| Actuarial Certificate – account based pension | $176 | $176 | $176 |
| Lump Sum withdrawal / rollover documentation | $195 | $195 | $195 |
| Annual GST Return – if the fund GST registered | $220 | $220 | $220 |
| PAYG Payment Summary/ Statement | $110 | $110 | $110 |
| Pension establisment accounting: | |||
| Effective from 1 July | Free | Free | Free |
| not effective on 1 July (required valuation) | $450 | $450 | $450 |
| Admin per segreration account | $220 | $220 | $220 |
| Amendment of SMSF Tax Return | $330 | $330 | $330 |
| Property Titles | |||
| NSW, VIC, QLD, SA | $25 | $25 | $25 |
| WA | $33 | $33 | $33 |
| Others | $30 | $30 | $30 |
| Deed services | |||
| Deeds of Variations/ Change of trustee | $550 | $550 | $550 |
| Bare Trust Deed | $990 | $990 | $990 |
| Property Trust Corporate Trustees | $990 | $990 | $990 |
SMSF Fee Calculator
Determine your annual self managed super fund accounting fees with our SMSF fee calculator.
To provide a quote for our services, we will need to collect some personal and confidential information. This includes your full name, contact information and details about your SMSF. The calculator will ask for a contact email address before your estimated fee is provided.
Frequently Asked Questions
Based on the latest figures from the ATO the average self managed super fund fees are $3,934 per annum.
This is based on a median (mid-point) of operating expenses which an SMSF would incur including SMSF auditor fees, SMSF accounting fees, SMSF administration costs, ATO SMSF Supervisory Levy and other deductions relating to the annual running of an SMSF.
Most of these costs are SMSF accounting fees and SMSF audit fees. Learn more about the average SMSF fees here.
There are a number of differences if you were to compare Connect SMSF to many of the low cost online only service providers available. We recommend anyone comparing SMSF service providers look at the following as part of their research:
Service: We provide personalised phone and email support. You are not forced to make all communication via an online portal.
Transparency: Connect SMSF does not receive any commission or referral fees from any of the solution providers we work with including SelfWealth. Some other SMSF service providers receive commissions which increase the ongoing costs of using their preferred suppliers. Check the Product Disclosure Statement (PDS) of those providers to see how much they receive in commissions.
Work Required from you: Some providers are not ‘full service’ SMSF administration providers – they could better be described as an online accounting system with an SMSF audit and lodgement function attached. Connect SMSF does not require you to categorise or code any of your SMSF transactions yourself.
Learn more about our SMSF administration and accounting packages here.
Yes.
SMSF fees and operating expenses that are incurred by an SMSF are mostly deductible under the general deduction provision (section 8-1 of the Income Tax Assessment Act 1997 (ITAA 1997)) except to the extent they relate to the gaining of non-assessable income (such as exempt current pension income) or are capital in nature.
Common fees that an SMSF can claim a tax deduction for include:
- Management and administration fees
- Audit fees
- ASIC annual fee for a SMSF trustee company
- Investment related expenses
- The ATO annual supervisory levy
- Legal expenses (where they are needed to comply with income tax obligations and NOT capital in nature)
- Cost of amend a trust deed to keep it up to date with changes to the super laws
Typically the SMSF fees payable to Connect SMSF will be tax deductible.
In addition to the fees quoted on this website, each SMSF has to pay statutory fees to the ATO and also ASIC each year.
The ATO charges a $259 annual SMSF supervisory levy which is paid when the SMSF pays its annual tax bill (or the amount comes off the tax refundable).
In addition, where an SMSF has a special purpose trustee company, it has to pay an annual company registration fee to ASIC. For the 2020-21 financial year this annual fee is $55 and it’s indexed each year on the 1st of July.
Where an SMSF uses a company trustee it’s recommended the annual ASIC fee is paid for 10 years in advance. The current cost of doing so is $383. Paying these fees in advance both ensures costs are reduced and removes the possibility of incurring late fees for that 10 year period.
The set up fees for a new SMSF are as follows:
- $495 with individual trustees;
- $990 with a company trustee
Connect SMSF intentionally DOES NOT offer ‘FREE’ SMSF establishment to ensure we provide you with the best possible upfront support and service you deserve.
Learn more about setting up an SMSF here: SMSF setup
The average SMSF audit cost based on the ATOs 2017-18 statistics is $550. This average SMSF audit fee has not changed in in a number of years, despite the ATO increasing scrutiny of SMSF auditors including reviewing their competence and independence.
As the size of an SMSF increases, the independent audit fees also increase.
All Connect SMSF fee packages INCLUDE the annual independent audit which is carried out by leading SMSF auditor ASF Audits.
There are a number of different ways to look at this question.
If you look at it purely based on the SMSF fees, for many people, an SMSF may not be worthwhile unless the combined balance of all members (typically a couple) is at least $500,000.
The primary driver for most people to set up an SMSF is for control. An SMSF is the best way to have control over how your superannuation is invested as it provides maximum flexibility and transparency, especially over self managed super fund fees.
Lower cost SMSF administration opens SMSFs up to a greater number of people who want to take control of their superannuation investments.
When you use an industry or retail superannuation fund, built into their fees is both the administration cost as well as the investment management cost (although this can sometimes be difficult to see). With an SMSF the administration costs are going to be higher, however if you are a self-direct investor your investment management costs are lower as you are replacing the professional fund manager with yourself.
So are self managed super funds worth it? The answer comes down to whether how much value you put on control and transparency when it comes to how your super is invested.
No.
SMSF establishment fees are not tax deductible to either the members of the SMSF or the SMSF itself. They are capital in nature and a tax deduction cannot be claimed regardless of who pays them.
The ATO has specifically said:
“We (being the ATO) consider formation costs (for example, cost of the trust deed to establish an SMSF) are of a capital nature regardless of who pays them. These are not deductible under tax law.
Also, unless the SMSF is conducting a business, there is no write-off under Business Related Costs of the Income Tax Act, and we consider the necessary business nexus is unlikely to be met because the primary purpose of a fund is to conduct it for retirement purposes rather than as a business.”
If a tax deduction is sought by the members, the fees in relation to the establishment of an SMSF may be claimed as a personal concessional where the member has paid the expense on behalf of the fund, not been re-imbursed and completes a notice of intent to claim form under s290-170 within the required time period.
In other words seek advice from a qualified tax account or get in touch with us!