The difference between SMSF setup costs and the fees you’d pay in a large super fund can be considerable.
The costs related to SMSFs are more likely to be fixed, so the overall cost is generally less affected by changes in the level of benefits within the fund.
The fees charged in large super funds are generally percentage based and as such, increase in-line with the level of benefits (although a maximum fee cap may apply).
If the combined benefits within an SMSF are less than $200,000, the SMSF setup costs are unlikely to be cost competitive compared to a large super fund.
Cost Type |
Details |
---|---|
Costs associated |
Unavoidable Costs for a trust deed. Optional Costs for establishing a corporate trustee, including the ASIC fee for establishing a corporate entity. |
Ongoing costs |
Unavoidable Costs that are unavoidable include:
Optional Costs that are optional include:
|
Costs associated |
Costs will include both compliance costs and costs related to realising assets. The nature of some of these costs will depend on the assets the SMSF invests in, but might include brokerage or agent fees. |
There’s a cost associated with the time you spend on running your own fund which will depend on how much you do yourself and how much you outsource to a professional.
Discover our SMSF solution.
Call 1300 554 267 with any questions or request a callback.
The information in this document has been prepared by Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714. The information is general in nature and does not take into account your personal needs, objectives or circumstances and therefore, before acting on this information, you should consider whether it is appropriate for you.
BT Portfolio Services Ltd ABN 73 095 055 208 AFSL 233715 (BTPS) operates BT Panorama Investments (the investor directed portfolio service operated by BTPS). BT Funds Management Limited ABN 63 002 916 458 AFSL 233724 (BTFM) is the responsible entity and issuer of interests in BT Cash and Westpac Financial Services Ltd ABN 20 000 241 127 AFSL 233716 is the responsible entity and issuer of interests in BT Managed Portfolios. An Investor Guide is available for BT Panorama Investments and a PDS is available for BT Cash and BT Managed Portfolios (the Panorama products). These disclosure documents can be obtained from BTPS by visiting www.bt.com.au/smsf or calling 1300 881 716. A person should obtain and consider the disclosure documents before deciding whether to acquire, continue to hold or dispose of interests in the Panorama products.
BTPS, BTFM and WFSL are subsidiaries of Westpac Banking Corporation ABN 33 007 457 141 (Westpac). Apart from any interest investors may have in Westpac term deposits or securities acquired through Panorama, an investment in or acquired through Panorama is not an investment in a bank or a bank deposit. Westpac and its related entities do not guarantee an investment in or acquired through Panorama Investments.
© Westpac Banking Corporation 2016