FEES AND COST OF AN SMSF
SMSF and flat fees can make a huge difference to your ultimate retirement balance. When you first set up a fund there are a number of fees that your fund will need to incur. Often SMSF administrators will require you to pay some of these fees by EFT or credit card when you first establish your fund. Redwood will generally pay these fees on your behalf so you’re not out of pocket – or need to reimburse yourself from the SMSF. Once your new SMSF is established and funds from previous superannuation accounts are transferred in, it will debit the SMSF to cover these costs (generally when the SMSF rollover is completed).
Here is a summary of the standard fees associated with establishing an SMSF (https://redwoodadvisory.com.au/smsf/fees/):
- $518.00 – ATO supervisory levy ($259.00 per year) payable to the ATO. New funds are required to pay the first two years in advance – refer to
- $469.00 – Registration of Corporate Trustee Company – this company registration fee is payable to ASIC.
- $469.00 – Registration of Corporate Trustee Company for Bare Trust Trustee (needed for SMSF buying property) – company registration fee payable to ASIC
- You will authorize the establish of each company with $1 paid up capital, that is each share is worth $1.
The 2 X $469 company fees are included in our fees whereas the $518 is paid from your SMSF once your SMSF return is lodged.