Understanding the costs


These are the costs involved with the SMSF

1. Set up fees - $1600 upfront

2. Accounting fees - $140 per month plus $10 per month per additional member

3. Govt fees - $376 per year

Understanding Set Up Fees


The set up fee of $1600 is eventually paid by the SMSF, but there is a catch. Because the fund does not exist yet, the set up costs need to come from somewhere. This is why you need to pay the establishment fees ($1600) out of your own money when you fill in the application. 

Once the fund is set up and you have received your super into your new SMSF bank account, then you reimburse yourself the $1600. This then becomes a tax deduction for the fund. 

Understanding Accounting Fees


The accounting fees are $140 per month ($1680 per financial year) plus $10 per month ($120 per financial year) per additional member. It is easier to think of the costs per financial year because the running/accounting costs are the same if you are open for 1 month or 12 months. 

Once you have the SMSF bank account set up we set up a direct debit. The first monthly debit brings the fund up to date for the financial year. For example if a single member fund is set up in December the first debit will be $140 x 6 = $840. From then the monthly debit is $140.

NOTE: If no funds are held in the SMSF for the first financial year we can make a "return-not-necessary" lodgement. In this case you still have reporting obligations for the year but you do not need to complete a full tax return. A return-not-necessary lodgement can be submitted for $220 instead of the full year's accounting fees.

Understanding Govt Fees


There are 3 government fees applicable to SMSFs 

  1. SMSF supervisory levy
  2. Company name renewal
  3. Electronic Service Address 

SMSF supervisory levy is currently $267 a year and is included in your tax return. You pay it twice in the first year and once for all following years. 

The company name renewal and ESA fees are currently $54 and $55 per year.  The ESA  is a system that notifies you and the government when your employer makes contributions to your SMSF. Both the Company name renewal and the ESA  fees are payable each year on the anniversary of establishment and will be automatically debited from your SMSF bank account.

Total costs Example

Pricing example

Here is an example of a typical client with a single member SMSF. The SMSF makes 60 transactions a year with a few shares, crypto and some gold.

Costs for 1st financial year: (regardless of month fund is established)

Set up fees:                $1600

Accounting  fees:     $1680

Govt fees:                      $643

Total:                          $3923

Cost for 2nd financial year (and following years)

Accounting  fees:     $1680

Govt fees:                      $376

Total:                          $2056

See below for a complete price schedule.


Price Schedule

All non government fees include GST and are locked in for 1 year once becoming a client