SMSF administration

Set out below are all SuperGuide articles explaining SMSF administration.

Oops! Top 10 SMSF boo-boos for 2015 financial year

Note: Every year, the ATO publishes the top compliance mistakes made by SMSF trustees. This article contains data up to 30 June 2015 (latest available as at January 2016). The next update, for compliance data up to 30 June 2016, will be available in late 2016.The ATO has published the top 10 … [Read more...]

SMSFs: How much does a DIY super fund cost? (updated figures)

Note: Article updated in January 2016, and includes an extra table outlining fees for small and large SMSF account balances. This article includes the latest SMSF cost data released in December 2015 by the ATO, and selected cost data released by ASIC in September 2013. The next SMSF cost update is … [Read more...]

Are SMSF audits too expensive?

Note: Every year, the ATO publishes the average audit fees incurred by SMSFs. This article contains data for financial year ending 30 June 2014 (latest available as at January 2016). We have retained all comments from earlier versions of article. The next update, for compliance data up to 30 June … [Read more...]

SMSFs: ATO supervisory levy must be paid in advance

The ATO supervisory levy payable by SMSFs each year has been increasing in leaps and bounds over the past few years. The levy payable each year now sits at $259 and this amount is payable in advance. For a new SMSF what this means is that you would pay double the SMSF levy in your first … [Read more...]

Broken promise? Government fails to cut SMSF ATO levy

Two years ago, in December 2013, the newly-elected Liberal government promised to review the amount of the ATO SMSF levy. At $259 a year, the SMSF ATO supervisory levy had more than quintupled in the 7 years from the 2007/2008 year when only $45 a year was payable.In late 2013, when the Liberals … [Read more...]

SMSFs: Is the ATO supervisory levy ‘value for money’?

Every year, the ATO collects $259 from each self-managed super fund to finance the SMSF monitoring role the ATO performs on behalf of the government. Based on roughly 560,000 SMSFs that amounts to $145 million each year being collected from SMSF trustees, to monitor SMSFs.Over a period of 8 … [Read more...]

SMSFs: Enough super to justify SMSF running costs?

Note: This article analyses the cost-effectiveness of SMSFs for small, medium or large fund balances, examining both set-up costs and running costs. For further information on the latest SMSF costs see SuperGuide article links at the end of this article. The Australian Securities and … [Read more...]

SMSF administration: Are there problems dealing with online trust deed providers?

Q: Thanks for the super site – it has been very useful for me as a trustee of my family SMSF. I have also bought your book, DIY Super for Dummies, which has been very informative and explained many issue in plain English. My question relates to updating the trust deed. I have looked at several … [Read more...]