Fees and costs

There are fees and costs associated with setting up and running a SMSF. The runnning costs includes investment transaction/ management costs and compliance reporting fees (financial report and tax return). Investment transaction/ management costs may include brokerage or other fees, depending on the investments, or financial adviser's fees if you use one. All fees and expenses associated with the SMSF is paid by the SMSF.

The cost of a SMSF may be lower than other superannuation, especially when the balance is high. Superannuation Accounting Services' fees are fixed and transparent, and not based on the balance of the SMSF.

The component of fees and charges are:

• SMSF set-up
  The set-up fee is a once-off fee. This fee includes documentation and registration - the SMSF's Trust Deed, registration of the SMSF with the Australian Taxation Office, and the election to be a regulated fund for tax concessions. Superannuation Accounting Services can set-up a SMSF for you. Our fees are detailed in our fees schedule.

• Ongoing compliance reporting
  SMSF accounting and taxation lodgement - a SMSF is required to prepare annual financial report, have the SMSF financial report and trustee compliance audited, and lodge income tax return annually. Superannuation Accounting Services can provide you with this service.

• ATO supervisory levy
  The ATO imposes a levy on all SMSF. The current levy is $259 per financial year.

• Investment fees and costs
  Fees and costs associated with making and maintaining investments that are charged, e.g. brokerage on share trading and any other investment costs.

Did you know?
Differences in the fees funds charge can have a big effect on what you may have to retire on. This effect may be more than you think and for this reason you need to consider what fees are being charged.