As trustee and manager of your own super fund you don’t have to pay entry, exit or management fees.The only fees you’re going to incur are those attached to managing your fund. These fees will include accounting and auditing fees, and professional fees if you’re consulting a broker or advisor.
What is a SMSF?
What’s are the fees of a SMSF?
Below is an outline of the fees attached to a self managed superannuation fund:
- Set up – when setting up your fund you’re required to pay a one-off fee. This fee covers the preparation of the trust deed, registering the fund and the proper election to be a regulated fund for tax concessions.
- On-going accounting fees – self managed funds my supply an annual report to members every year. This on-going fee is paid annually and covers the preparation of this report and associated statements.
- Supervisory levy – the Australian Taxation Office applies a supervisory levy to all self managed funds, and this levy is currently $321 per annum. Please refer to the ATO website as the levy is subject to change.
Talk to Strategic Self Managed Super Advisors about how our set up and management services can help you.
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Phone: 07 3421 6100
Fax: 07 3421 6110
Email: info@strategicadvisors.com.au
Office Address:
63 Old Cleveland Road
Stones Corner, Qld, 4120