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What Costs Are Involved In SMSF Setup

TAKING A DIFFERENT APPROACH

We listened when Australians said the SMSF process was complex and expensive! Our Self Managed Super Fund specialists take the stress out of setting up a self managed super fund and other asset investing by guiding you step by step through the process, whilst offering affordable application and running costs  along the way. It is important to note that all fees below are taken from your current retail superannuation fund.

SET UP FEE

  • SMSF Consultant every step of the way
  • Supply you with the SMSF Trust Deed.
  • All required documentation to appoint Trustees.
  • SMSF establishment documents
  • Application for an ABN and TFN to the ATO for the SMSF
  • Supply you with 'minutes' documents acknowledging your SMSF has been established.
$ 795*
One Time

ACCOUNTING & AUDIT FEE

  • SMSF annual compliance services
  • Preparation of the annual financial statements for the SMSF.
  • Preparation and lodgment of the annual tax return for the SMSF.
  • Annual SMSF audit done by our external auditor.
  • Preparation of the annual member statements for the SMSF.
  • Account management by a SMSF Specialist and Chartered Accountant.
  • No lock in contracts.
$ Varied
Month or Annual

SET UP FEE

  • Paid on application - Fee reimbursed back to you from Super Balance once your fund is established
  • All ATO regulated SMSF Establishment Documents
  • All required documentation to appoint Trustees.
  • Application of ABN and new TFN for the SMSF
  • Dedicated Consultant to assist you with establishment of fund
$ 488*
One off payment

ACCOUNTING & AUDIT FEE

  • Dedicated Account Manager
  • Preparation of the annual financial statements for the SMSF.
  • Preparation and lodgment of the annual tax return for the SMSF.
  • Annual SMSF audit done by our external auditor.
  • Preparation of the annual member statements for the SMSF.
  • Phone and Email Support
  • NO Lock In Contracts
$ 145
Monthly

Total Cost Example

 Year 1Year 2
Setup Fee Paid back by fund once established$488*$0
ASIC Fee$576$0
Accounting Fee (No lock in contracts)$145/mth$145/mth
SMSF Levy – Paid tax time$518$259
Company Renewal$0$56
ESA (Electronic Services Address)$45$0
   

*Accounting fees based on a fund with standard asset investments. Additional assets (ie multiple properties) involving addittonal accounting resources /complexity due to high level of transactions to be reviewed by accountants. Speak to one of our consultants regarding accounting fees if this occurs. Note – accounting fees are paid for through your SMSF on a monthly or annual basis. No lock in contracts apply with your accounting and tax services. 

Prices displayed in the Total Costs Example are for guidance only, relates to a one member fund with audit and tax services for a SMSF with basic assets only. Year 1 fees are regardless of month of year set up is completed. Prices subject to change based on individual circumstances.

The SMSF Supervisory Levy Fee​

$259 is charged annually by the ATO. This fee allows you to run your SMSF and will be added to your SMSF tax bill. the fee is paid twice in year one and once for each following year

ASIC Renewal Of Your Company Name​

ASIC charges you a fee to have your company name reviewed and keep your company on the ASIC database. The $56 is debited from your SMSF bank account annually on the date your SMSF was established.

Paid 1 year after fund established and then annually

ESA

Electronic Services Address fees are $45 per year (debited annually from your SMSF bank account) This system notifies all parties when your employer makes contributions to your SMSF.

Payable from anniversary of fund set up

Contribution Tax​

Your employer contributions are taxed at 15%

Capital Gains Tax​

Any profit made from sold assets is taxed at a rate of 15%

Pricing

Setting up and running your own ‘Self Managed Super Fund’ or SMSF crypto or SMSF Property or SMSF shares has traditionally been met with expensive ‘set up’ and ‘auditing’ fees. Not anymore. At New Venture Wealth, we’re taking a different approach.

We set up your property SMSF, equities SMSF, crypto SMSF and provide fixed monthly auditing fees with no ‘lock in’ contracts.

All expenses for your crypto SMSF or property SMSF or shares SMSF (Set up, auditing & government fees) are paid by your traditional retail superannuation fund. We guide you through the entire process ‘step by step’ providing you with a designated consultant to ensure your fund is completed in a timely manner and fully compliant with all superannuation regulations.

If you would like to learn more about setting up a super SMSF so you can start investing in property, crypto, equities and more please book in a 15 min consultation with one of our team or call 1300 050 939

Book a Free Consultation

We provide a FREE 30 minute online SMSF consultation to help you discover how to set up a self managed super fund. 

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