SMSF costs

Set out below are all SuperGuide articles explaining SMSF costs.

SMSF: How much does a DIY super fund cost? (updated figures)   Super Guide

Q: My wife and I are considering setting up a self-managed super fund. I asked two advisers for a quote on the set-up costs for a self-managed super fund with a starting balance of $600,000.

Are SMSF audits too expensive? (updated figures)   Super Guide

Q: SMSF auditors and administrators are charging rather high audit fees, perhaps because of the mandatory nature of these audits.

SMSF confidential: the inside story on DIY super funds   Super Guide

The ATO publishes an annual report about SMSFs for each financial year. This article covers the ATO’s 2011-2012 statistical review of SMSFs (released in late December 2013).

SMSF: Annual ATO levy to be cut   Super Guide

Hidden in a raft of 92 announcements relating to the outcome of unlegislated tax and superannuation measures, some uncharacteristic good news came to light for SMSF trustees.

SMSFs: How much money do you need to start one?   Super Guide

In late 2012, the Australian Securities and Investments Commission (ASIC) asked consultants Rice Warner to examine whether there was a minimum cost-effective fund balance for an SMSF. The final report was released publicly in September 2013, and ASIC has asked for industry feedback on the findings.

ATO levy hike for SMSFs   Super Guide

Effective from 2013/2014 year, the ATO supervisory levy for self-managed superannuation funds is set to jump again, increasing to $259 a year.

SMSF whack! Another 11% increase in ATO supervisory levy   Super Guide

Effective from the 2011/2012 year, the ATO supervisory levy for self-managed super funds has increased from $180 to $200. The levy hike is an 11% increase from the previous financial year, and a massive 400% increase from the ATO levy that was payable 5 years ago.

Guest contributor: Turning 65   Do you still need a SMSF?   Super Guide

A regular SuperGuide reader, Bruce Sutherland, explains why he believes a SMSF is no longer tax-effective for his wife and himself after the age of 65.

Q: Rather than putting our money in super, should we just go for a lump sum and invest in term deposit and direct shares in our own name? For example, if a couple who are senior age can receive income of $51,630 tax-free outside of an SMSF, why bother …