Self-managed super fund fees and costs
SMSF fees are an important consideration when determining whether an SMSF is right for you.
Grow SMSF provides competitive self managed super fund fees. Choose from some of the cheapest SMSF fees under our fixed fee packages or use our SMSF fee calculator to build a customised solution for your fund. Our SMSF fees are fixed and transparent meaning there are no surprises at the end of the year when you receive an invoice for your SMSF accounting fees.
SMSF fees comparison
If you undertake an SMSF fees comparison you will see that Grow SMSF has very competitive fees for a full service SMSF administration and advice provider. Esuperfund fees may be cheaper, however its a very different type of service that requires you as the SMSF trustee to undertake much of the ‘heavy lifting’ when it comes to processing SMSF transactions. It may work well for fee conscious SMSF members who stick to very basic cash and ASX listed shares as their investments, however there are many hidden costs and additional time required when you scratch under the surface. Esuperfund fees have increased steadily over the last fee years. The is presumably because changes to laws as well as low interest rates have decreased the revenue and commission esuperfund can generate from other products (apart from SMSF administration). It’s also worthwhile to remember that the esuperfund fees do no include the ebroking fees for share trades which are more than double compared to a low cost popular broker like SelfWealth. Grow SMSF as a special self managed super fund fees solution with SelfWealth: SelfWealth SMSF
SMSF auditor fees
SMSF auditor fees are included in the Grow SMSF self managed super fund fees packages. The SMSF audits are conducted by one of the largest independent SMSF audit providers in the country (ASF Audits). Grow SMSF passes on the benefits of a 10 year plus relationship and their scale so you can benefit.
Self Managed Super Fund Fees
fixed price SMSF fees
All fees are inclusive of annual independent audit. SMSF fees include GST.
$1,620
Base
Value to grow your wealth ($135/m)
- Includes independent SMSF audit
- Preparation and lodgement of SMSF financial statements and tax return
- Annual compliance and strategic reviews
- Free transfer for existing SMSFs
- Accumulation accounts supported
- Pension accounts supported (+$30/m)
- Dedicated SMSF specialist account manager
- Personalised phone and email support
- Allowable investments: Selection of popular data-fed cash, share trading and investment wrap accounts. Term deposits.
$2,220
Flexi
Flexibility to grow on your terms ($185/m)
- Includes independent SMSF audit
- Preparation and lodgement of SMSF financial statements and tax return
- Annual compliance and strategic reviews
- Free transfer for existing SMSFs
- Accumulation accounts supported
- Pension accounts supported
- Priority lodgement (July - November)
- Optional annual review meeting
- Dedicated SMSF specialist account manager
- Personalised phone and email support
- Allowable investments: Full range of data-fed cash, share trading and investment wrap accounts. Term deposits. Direct residential and commercial property.
$P.O.A.
Bespoke
Fully customised solution ($POA/m)
- Includes independent SMSF audit
- Preparation and lodgement of SMSF financial statements and tax return
- Annual compliance and strategic reviews
- Free transfer for existing SMSFs
- Accumulation accounts supported
- Pension accounts supported
- Dedicated SMSF specialist account manager
- Personalised phone and email support
- Allowable investments: No investment limitations. Includes everything in the Base and Flexi packages plus investments such as artwork, unlisted/private companies and trusts, precious metals (gold bullion etc), options trading, cryptocurrency
- Support for segregated accounts, reserves and sophisticated investment strategies
- Price calculated on application
Looking for a customised solution?
Dedicated support
Self-managed super funds are personal wealth vehicles. With Grow you get access to personalised support from competent, qualified and experienced SMSF accountants.
Less paperwork
Less is more when it comes to SMSF paperwork. We destroy the myth that self managed super funds are labour intensive requiring 100s of hours of paperwork each year. We leverage technology to make your SMSF paperless so you can focus on more important things.
Online reporting
Viewing and tracking your complete SMSF portfolio shouldn't be difficult. Grow provides you with online access to see the entirety of your super fund at no additional cost. Tracking you investments, contributions and pension limits and payment with ease.
It's not just about what you pay,
it's about what's included
Superstream sorted
Included for all SMSFs we look after is our free Superstream solution smsfdataflow. We ensure your SMSF can easily receive employer contributions and you can track what's been deposited to your fund account easily online.
Specialist advice & support
With an SMSF its important to keep on the right side of complex and frequently changing superannuation laws. Grow has close to 20 years of self managed super fund experience to help ensure you stay off the ATOs radar.
GST registration
Where appropriate we will register your SMSF for GST. This enables your self managed super fund to claim GST on a wide range of fees and costs often providing your fund a refund of many hundreds of dollars per year. Included at no additional cost.
Compare our fixed fee packages
| Base | Flexi | Bespoke | |
|---|---|---|---|
| Annual Fee | $1,620 | $2,220 | $P.O.A. |
| Independent Audit Included | |||
| Annual Financials & Tax Return | |||
| Annual Compliance & Strategic Review | |||
| Fee Payment Options | Monthly | Monthly | Monthly or Annual |
| FREE Transfer to Grow | |||
| Accumulation Accounts Supported | |||
| Pension Accounts Supported | +$360 pa | ||
| Dedicated SMSF Specialist Account Manager | |||
| Personalised Phone & Email Support | |||
| GST Registration and Credits | |||
| Priority Lodgement (Jul-Nov) | |||
| Optional Annual Review Meeting | |||
| SMSF Investments Supported | |||
| Bank Accounts | Popular Accounts | All Data Fed Accounts | Any Account |
| Broker Accounts | Popular Brokers | All Data Fed Brokers | Any Broker |
| Investment Platforms | Popular Platforms | All Data Fed Platforms | Any Platform |
| Term Deposits Allowed | 2 | ||
| Property Investment (Residential or Commercial) | 1 | ||
| Precious Metals (Gold, Silver Bullion etc) | |||
| Artwork and Collectables Investments | |||
| Unlisted / Private Company & Trust Investments | |||
| Options Trading or Cryptocurrency Investments | |||
| Support for Segregation, Reserves, Advanced Strategies |
Included as standard in all packages
Range of bank accounts
Access popular SMSF bank accounts as the central cash hub for your fund.
Popular broker accounts
We don't lock you into a brokerage account where we 'clip the ticket' on brokerage fees. Choose from a range of popular broker accounts.
Investment platforms
Where you work with an adviser for your SMSF they may recommend an investment platform or 'wrap' account to make the administration of your SMSF investments easier. Our packages and SMSF fee calculator cater for all common platforms.
SMSF Fee Calculator
Determine your annual self managed super fund accounting fees with our SMSF fee calculator.
The calculator will ask for a contact email address before your estimated fee is provided. You will only receive 1 x automated email and 1 x personalised email and will not receive any additional contact from Grow SMSF or be added to any mailing list unless you initiate it.
The calculator will ask for a contact email address before your estimated fee is provided. You will only receive 1 x automated email and 1 x personalised email and will not receive any additional contact from Grow SMSF or be added to any mailing list unless you initiate it.
Frequently Asked Questions
Answers to common questions about self managed super fund fees.
What are the average self managed super fund fees?
Based on the latest figures from the ATO the average self managed super fund fees are $3,934 per annum.
This is based on a median (mid-point) of operating expenses which an SMSF would incur including SMSF auditor fees, SMSF accounting fees, SMSF administration costs, ATO SMSF Supervisory Levy and other deductions relating to the annual running of an SMSF. Most of these costs are SMSF accounting fees and SMSF audit fees. Learn more about the average SMSF fees here.
How is Grow SMSF different to cheaper online providers like esuperfund?
There are a number of differences if you were to compare Grow SMSF to many of the low cost online only service providers available. We recommend anyone comparing SMSF service providers look at the following as part of their research:
- Service: We provide personalised phone and email support. You are not forced to make all communication via an online portal. Our phone number (1300 651 263) is readily available during business hours (AEST). Check to see whether other providers have a phone number you can call to speak to a human.
- Transparency: Grow SMSF does not receive any commission or referral fees from any of the solution providers we work with. Some other SMSF service providers receive commissions which increase the ongoing costs of using their preferred suppliers. Check the Financial Services Guide (FSG) of those providers to see how much they receive in commissions.
- Work Required from you: Some providers are not ‘full service’ SMSF administration providers – they could better be described as an online accounting system with an SMSF audit and lodgement function attached. Grow SMSF does not require you to categorise or code any of your SMSF transactions yourself.
The above is not a comprehensive list. Take a look at our blog to find more specific information on comparing Grow SMSF to other service providers. Learn more about our SMSF administration and accounting packages here.
Are SMSF fees tax deductible?
Yes.
SMSF fees and operating expenses that are incurred by an SMSF are mostly deductible under the general deduction provision (section 8-1 of the Income Tax Assessment Act 1997 (ITAA 1997)) except to the extent they relate to the gaining of non-assessable income (such as exempt current pension income) or are capital in nature. Common fees that an SMSF can claim a tax deduction for include:
- Management and administration fees
- Audit fees
- ASIC annual fee for a SMSF trustee company
- Investment related expenses
- The ATO annual supervisory levy
- Legal expenses (where they are needed to comply with income tax obligations and NOT capital in nature)
- Cost of amend a trust deed to keep it up to date with changes to the super laws
Typically the SMSF fees payable to Grow SMSF will be tax deductible.
What other SMSF fees are payable to the ATO and ASIC?
In addition to the fees quoted on this website, each SMSF has to pay statutory fees to the ATO and also ASIC each year.
The ATO charges a $259 annual SMSF supervisory levy which is paid when the SMSF pays its annual tax bill (or the amount comes off the tax refundable).
In addition, where an SMSF has a special purpose trustee company, it has to pay an annual company registration fee to ASIC.
For the 2023-24 financial year, this annual fee is $63 and it’s indexed each year on the 1st of July.
Where an SMSF uses a company trustee it’s recommended the annual ASIC fee is paid for 10 years in advance. The current cost of doing so is $436.
Paying these fees in advance both ensures costs are reduced and removes the possibility of incurring late fees for that 10-year period.
Do you have an SMSF fee calculator?
Yes! Grow SMSF has built a customised SMSF fee calculator. Our SMSF fee calculator enables you enter all the details of your fund including the types of accounts and investments and it will calculate your annual self managed super fund fees. The SMSF fee calculator is useful as it can help identify areas where self managed super fund fees can be reduced and savings can be found. With Grow SMSF self managed super fund fees can be determined both via our SMSF fee calculator our through one of our fixed fee administration packages.
How much does it cost to set up an SMSF?
The setup fees for a new SMSF are as follows:
- $770 with individual trustees;
- $1375 with a company trustee
Grow SMSF intentionally DOES NOT offer ‘FREE’ SMSF establishment to ensure we provide you with the best possible upfront support and service you deserve. Learn more about setting up an SMSF here: SMSF setup
Last updated: 1/07/2023
How much does a SMSF audit cost?
The average SMSF audit cost based on the ATOs 2017-18 statistics is $550. This average SMSF audit fee has not changed in in a number of years, despite the ATO increasing scrutiny of SMSF auditors including reviewing their competence and independence. As the size of an SMSF increases, the independent audit fees also increase. All Grow SMSF fee packages INCLUDE the annual independent audit which is carried out by leading SMSF auditor ASF Audits.
Are self managed super funds worth it?
There are a number of different ways to look at this question. If you look at it purely based on the SMSF fees, for many people, an SMSF may not be worthwhile unless the combined balance of all members (typically a couple) is at least $200,000.
The primary driver for most people to set up an SMSF is control. An SMSF is the best way to have control over how your superannuation is invested as it provides maximum flexibility and transparency, especially over self-managed super fund fees.
Lower-cost SMSF administration opens SMSFs up to a more significant number of people who want to take control of their superannuation investments.
When you use an industry or retail superannuation fund, built into their fees is the administration cost and the investment management cost (although this can sometimes be difficult to see).
With an SMSF, the administration costs are going to be higher, however, if you are a self-direct investor, your investment management costs are lower as you are replacing the professional fund manager with yourself.
So are self-managed super funds worth it? The answer comes down to how much value you put on control and transparency when it comes to how your super is invested.
Are SMSF establishment fees tax deductible?
No. SMSF establishment fees are not tax deductible to either the members of the SMSF or the SMSF itself. They are capital in nature and a tax deduction cannot be claimed regardless of who pays them. The ATO has specifically said: “We (being the ATO) consider formation costs (for example, cost of the trust deed to establish an SMSF) are of a capital nature regardless of who pays them. These are not deductible under tax law. Also, unless the SMSF is conducting a business, there is no write-off under Business Related Costs of the Income Tax Act, and we consider the necessary business nexus is unlikely to be met because the primary purpose of a fund is to conduct it for retirement purposes rather than as a business.” If a tax deduction is sought by the members, the fees in relation to the establishment of an SMSF may be claimed as a personal concessional where the member has paid the expense on behalf of the fund, not been re-imbursed and completes a notice of intent to claim form under s290-170 within the required time period. In other words seek advice from a qualified tax account or get in touch with us!
SMSF Fee Calculator
Use our SMSF fee calculator to determine the accounting and audit fees for your SMSF.
The calculator will ask for a contact email address before your estimated fee is provided. You will only receive 1 x automated email and 1 x personalised email and will not receive any additional contact from Grow SMSF or be added to any mailing list unless you initiate it.
The calculator will ask for a contact email address before your estimated fee is provided. You will only receive 1 x automated email and 1 x personalised email and will not receive any additional contact from Grow SMSF or be added to any mailing list unless you initiate it.
What's included
Flexi
The Grow SMSF Flexi provides a higher level of service and provides access to a wider range of investments including direct residential or commercial property investment.
Our Flexi package is a total annual fee of $2,220 per annum including audit.
Click below to see what accounts and investments our Flexi service supports.
Our Flexi package is a total annual fee of $2,220 per annum including audit.
Click below to see what accounts and investments our Flexi service supports.
- BANKS
- BROKERS
- PLATFORMS
- OTHER
Bank Accounts Supported
Our FLEXI solution enables you to choose the following SMSF bank accounts:
- Macquarie
- Commonwealth
- Westpac
- NAB
- ANZ
- BOQ
- DDH Graham
- Adelaide Bank
- AMP Banking
- Bank of Melbourne
- BankSA
- BankWest
- Bell Potter
- Bendigo Bank
- BT CMA Saver
- HSBC
- ING
- RaboDirect
- St George
If your chosen bank account is not listed, you will need to use our SMSF fee calculator to determine a customised fee.
Broker Accounts Supported
Our FLEXI solution enables you to choose any broker account that provides us with a secure data feed. This includes the the following popular SMSF broker accounts as well as the all the other brokers listed below:
Popular SMSF Brokers
- SelfWealth (view our SelfWealth SMSF solution)
- Commsec
- Westpac Online Investing
- ANZ Share Investing
- NABTrade
- Macquarie Online Trading
- Morgans
- OpenMarkets
- Ord Minnett
- Bell Direct
- Bell Potter Securities
- CMC Markets
- FinEx Stockbroking
See below for a detailed list of all broker accounts we can receive data feed for.
Other Stockbrokers
The following is a full list of SMSF stockbrokers that are available under the FLEXI fixed SMSF fees package at no additional cost. It’s also possible to add any one of these brokers to our BASE fee package for an additional $240 per annum ($20/m (where the broker is not in bold as these are included in the BASE fee at $0 additional cost).
- Ascot Securities
- Alert Trader Securities
- Amscot Broking
- ANZ Share Investing
- ANZ Advantage
- Baillieu Limited
- Baker Young Stockbrokers
- Bell Direct
- Bell Potter Securities
- Bendigo Invest Direct
- Beulah Capital
- BOQ Trading
- Burrell Stockbroking
- Bridges Financial Services
- Cashel House
- CMC Markets
- CCZ Statton Equities
- Chancellor Portfolio Services
- CommSec
- Commsec Adviser Services
- CPS Capital Group
- Crystal Wealth Partners
- D2MX – Morrison Securities
- Evans and Partners
- Euroz Securities
- Fernshaw Securities
- FinEx Stockbroking (Formerly Lonsec)
- First Prudential Markets
- Gleneagle
- Hanuman Private Wealth
- HK Securities
- Kinetic Securities
- Macquarie Online Trading
- Macquarie Trading
- Macquarie Private Wealth
- Macquarie Equities Limited
- Morgans
- Morgan Stanley
- Nabtrade
- One Trade Stockbroking
- Open Markets
- Ord Minnett Stockbroking
- Patersons Securities
- Phillip Capital
- Prescott Securities
- Pulse Markets
- QSmart Securities
- Raven Capital
- Renaissance Wealth Advisors
- Suncorp Share Trade
- SelfWealth (please refer to our SelfWealth SMSF solution)
- Saxo Capital Markets
- Sentinel
- Shaw and Partners
- Spring Financial Group
- Stake (please refer to our Grow US Stake SMSF solution)
- St George Directshares
- Taylor Collison
- The SMSF Club
- Trend Investment Services
- UBS
- Wentworth Group
- Westpac Online Investing
- William Shaw Securities
- Wilson HTM
Please note that Interactive Brokers and IG are not included on list of available brokers at this time. We can still provide services if your SMSF is using these accounts, however the fee will be a bespoke fee calculated based on the specific details and transactions of your fund.
SMSF Investment Platforms Supported
Our FLEXI solution enables you to choose any SMSF investment platforms or wrap accounts including the following popular platforms:
Popular SMSF Investment Platforms
- BT Panorama
- BT Wrap
- Macquarie Wrap
- Colonial FirstWrap
- HUB24
- IOOF
- Netwealth
- Praemium
Some of these data feeds require your financial adviser (where applicable) to activate a data feed on your behalf. Where your adviser does not activate the data feed, or is unable to, additional fees may apply. See below for a detailed list of all investment platform accounts we can receive data feed for. Any of the accounts on the list are included at no additional cost under our FLEXI fee package.
Other Platforms
The following is a full list of SMSF investment wrap platforms we also support under our FLEXI fee package. The items in bold are included in our BASE fee package.
- AMP North
- AMP PPS – Personalised Portfolio Service
- Asgard
- Australian Money Market – AMM
- Beacon Wrap Service
- Bell Equity Lever
- BT Panorama
- BT Wrap
- Centric Wealth
- Colonial First Choice
- Colonial First State (CFS)
- Colonial FirstWrap
- Crestone Wealth Management
- DNR Capital (Dalton Nicol Reid)
- Elston
- Encircle Portfolio Service
- Evans and Dixon Platform
- Fixed Income Investment Group Securities – FIIG
- HUB24
- Implemented Portfolios
- Investment Exchange
- IOOF
- JBWere
- Macquarie Vision
- Macquarie Wrap
- Xplore Wealth-Managed Accounts – IAS
- Mason Stevens
- Mason Stevens Global Investment Service
- MLC Navigator
- MLC Wrap
- Momentum
- Netwealth Investments
- Northhaven Wrap
- Omniport Wrap Service
- OneVue
- Ord Minnett PARS
- Patersons Accolade
- Premium Choice
- Private Portfolio Management (PPM)
- Praemium including Blackrock
- Politis Investment Management
- Russell Investments
- Storehouse Managed Investments Ltd
- Symetry Portfolio Service
- uXchange
- WealthO2
Other Inclusions
Our FLEXI solution includes the following additional features, some of which may incur additional add-on fees. Direct Property Included with the Grow SMSF Flexi service is direct residential and commercial property investment. A single residential or commercial property (with or without an LRBA loan) is included in this fixed fee package. Additional direct property investments are charged at $240 per annum or $360 per annum where a limited recourse borrowing is present. Priority Annual Returns Where your SMSF is in pension phase and eligible for a refund of franking credits, the scheduling of your SMSF annual return is prioritised under our FLEXI package. This means we schedule and complete the SMSF accounts, annual return and independent audit across the months of July to November. Please be aware that all annual taxation statements MUST be issued prior to finalisation of an SMSF annual return. Term Deposits If you are utilising term deposits for your SMSF, we include 2 simultaneous term deposits held direct with banks in our Base package. If you want to hold more than 2 term deposits, you can use Australian Money Market or hold them through one our supported investment wrap platforms. Alternatively an additional fee of $90 per term deposit per annum is levied to account for the additional work and documentation required to account for and audit the term deposits. Pensions The FLEXI solution caters for SMSFs that have account-based pensions at no additional cost. Trustee Company Agent Also included in our FLEXI fee is Grow SMSF acting as the registered ASIC agent for the trustee company of your fund. We will send you the annual statement for your review each year, make any changes as necessary, and remind you to pay the annual registration fee (if you’ve not prepaid it for 10 years which is recommended). Grow SMSF will not act as the physical registered office for your trustee company – it’s recommended you hold and control the physical company register / folder at your personal residence. Grow SMSF will maintain all company records in electronic format. Activity Statements Grow SMSF as your registered tax agent will lodge the business activity statements and instalment activity statements for your SMSF. Where your SMSF has to pay quarterly tax instalments (PAYG) by default we will change your payment frequency to an annual payment where your SMSF is eligible to pay PAYG instalments annually.
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Copyright © 2020 by Grow SMSF Pty Ltd. All rights reserved.
Registered Agent Number 26057627.
General Information Warning & Disclaimer
All information contained on this website is provided as an information service only and, therefore, does not constitute, and should not be relied upon as, financial product advice. None of the information provided takes into account your personal objectives, financial situation or needs, and you will need to make your own decision about how to proceed. Alternatively, for financial product advice that takes account of your particular objectives, financial situation or needs, you should consider seeking financial advice from an Australian Financial Services licensee before making a financial decision.
Grow SMSF does not hold an Australian Financial Services Licence (AFSL) and we are not authorised representatives of a AFSL. We do not provide financial product advice or recommend any financial products either expressly or implied.
From time to time Grow SMSF may produce information or content about specific financial products or services that enable access to specific financial products however we do not recommend, endorse or confirm as suitable any financial product or service featured on the Grow SMSF website or social media assets. This condition specifically applies to any financial product where Grow SMSF provides services at a discounted or preferential fee due to the use of those products, services or accounts. It’s not compulsory to utilise a specific account or service provider to be a client of Grow SMSF however the types of accounts, investments and service providers you use for your SMSF will determine the fees your SMSF is charged.
Where Grow SMSF provides information in relation to a financial product or service supported by or integrated with Grow SMSF the information is factual information only about the operation of the account or service and how data or reporting information is made available to us. Before making a decision on any financial product for your SMSF you should obtain a Product Disclosure Statement (PDS) relating to that product and consider the PDS before making any decision. As financial product and solution providers are frequently making changes to their products and services Grow SMSF cannot accept any responsibility for any outdated or inaccurate information provided on this website or via social media assets.
Grow SMSF Gold Coast based accountants looking after SMSF trustees from around Australia. Liability limited by a Scheme approved under Professional Standards Legislation.