SMSF costs

Set out below are all SuperGuide articles explaining SMSF costs.

SMSF confidential: the inside story on DIY super funds

Note: The ATO publishes an annual report about SMSFs for each financial year. This article covers the ATO’s 2013-2014 statistical review of SMSFs (released in December 2015). This report also contains data for the 2014-2015 year. The annual report for the 2014-2015 year will be available in late … [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...]

Super rich tax? Trawling SMSF accounts to fix budget not the answer

Note: This article is an updated response to recent claims that superannuation tax concessions are directed towards the ‘super rich’. The federal government is considering significant tax reform, which is likely to include superannuation tax changes as part of that reform process. The relevant links … [Read more...]

FEEding frenzy: how much does your super cost?

An easy way to determine if you believe your super fund is good value, is to assess the cost of your super fund against the average costs for the different types of super funds available.When superannuation funds are delivering strong returns, you don’t see much written about the costs of … [Read more...]

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