What does it cost to run an SMSF?

 
MELBOURNE, Australia - Jan. 13, 2022 - PRLog -- As each SMSF is different with different types of investments but for a few investments SMSF you can typically expect to pay $2000 + GST yearly for accounting fee. As other SMSFs might be complex with more investments the fee could be around $3000 + GST yearly.

In 2021, the data extracted and which is updated annually for 2020 financial year the total expenses that were included in the SMSF annual return was $8769 million. The operating expenses from these were reported as $3626 million and which includes the SMSF auditor fee, management and administration expenses, other amounts and supervisory levy.

SMSF cost with different service packages with Superfund Warehouse:
  • SMSF accounting – for SMSF accounting that covers the SMSF accounts preparation or bookkeeping we charge $400 plus GST for most of the funds. For some funds fee can vary which will be discussed and agreed before the start of the work
  • SMSF tax return preparation and lodgement – if you want us to only prepare the tax return and lodge with ATO the fee we charge is $200 plus GST. This will only cover the SMSF tax return preparation and lodgement and not the accounts preparation
  • SMSF accounts and tax return – our firm can handle the annual accounts preparation and tax return preparation and lodgement at a very competitive rate which is $500 plus GST. For some funds fee can vary which will be discussed and agreed before the start of the work
  • SMSF accounts, tax return and independent audit – if you are looking for one stop solution for the annual accounting tasks then this package covers the annual accounts preparation, tax return preparation and lodgement and independent audit at the price of $890 including GST. Most of the trustee clients prefer to use this package

If the actuarial certificate is required to finalise the accounts the fee of $110 including GST could be charged by the actuary who will issue the certificate. For other SMSF services fee can be discussed with professional you prefer to use.

As we offer SMSF outsourcing services to other accounting firms, tax agents, financial planners and SMSF administrators for volume work fee can be discussed and agreed as discount can be offered for volume work.

SMSF administration fee payable to Superfund Warehouse for the annual accounts can be paid annually once we complete the annual accounts. Invoice will be issued with the finalisation of accounts. Our fee is very competitive as compared to the other SMSF service providers.

It you have any question regarding our fee structure please feel free to contact us.
https://www.superfundwarehouse.com.au/


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Tags:SMSF Accounting Service
Industry:Accounting
Location:Melbourne - Victoria - Australia
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