SMSF costs

Set out below are all SuperGuide articles explaining SMSF costs.

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

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Note: Article updated in June 2014, and enhanced with an extra table outlining fees for small and large SMSF account balances.This Q&A includes the latest SMSF cost data released in December 2013 by the ATO, and data released by ASIC in September 2013. The next SMSF cost update is expected to be … [Read more...]

Are SMSF audits too expensive? (updated figures)

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Note: Every year, the ATO publishes the average audit fees incurred by SMSFs. This Q&A contains data for financial year ending 30 June 2012 (latest available as at June 2014). We have retained all comments from earlier versions of article. The next update, for compliance data up to 30 June 2013, … [Read more...]

SMSF confidential: the inside story on DIY super funds

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Note: 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 December 2013). This report also contains data for the 2012-2013 year. The annual report for the 2012-2013 year will be available in early … [Read more...]

SMSF: Annual ATO levy to be cut

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Hidden in a raft of 92 outstanding policy items relating to the outcome of unlegislated tax and superannuation measures, some uncharacteristic good news came to light for SMSF trustees. Due to several SMSF-related measures not proceeding under the new government, the government has promised to … [Read more...]

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

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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 … [Read more...]

ATO levy hike for SMSFs

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For those preparing or lodging the 2012/2013 self-managed super fund tax return you may get a rude shock when you discover the ATO has hit your SMSF with a whopping $321 supervisory levy for the year. You may recall that the ATO levy was supposed to be $191 for the 2012/2013 financial year, so … [Read more...]

SMSF whack! Another 11% increase in ATO supervisory levy

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For 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. In the 2012 Federal budget, hidden in the … [Read more...]

Tax-free retirement: Why bother with super, such as an SMSF?

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 with all the requirements and costs of operating … [Read more...]