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What fees do I pay

There are no entry fees, exit fees or management fees because you, as trustee, manage your own superfund.

Generally, the only fees are the expenses incurred in the running of the superfund, such as accounting and audit fees. It may also include brokerage or professional adviser’s fees if you use one. All fees and expenses associated with the superfund is to be paid by the superfund.

The 2 component of fees and charges are:

Self managed superfund set up

The self managed superfund set up fee is a once-off fee. This fee includes preparation of a Fund's Trust Deed, registration of the fund with the Australian Taxation Office (ATO), and the proper election to be a regulated fund for tax concessions.

Self managed superfund ongoing accounting and other fees

A self managed superfund is required to prepare an annual report to provide to all its members.

The ongoing accounting fees are paid annually. The fees cover the preparation of the fund's annual report which includes the fund's financial statements and member's statements, fund's income tax and regulatory return and the audit.

Superannuation Accounting Services will provide this service. The fee is a fixed fee and is not based on the asset value of the superfund.

Our fees schedule here.

All self managed superfunds are levied a supervisory levy by the Australian Taxation Office for prudential supervision. The levy is currently $150 per annum (2008).

Other fees that the superfund may incur are fees for other services rendered to the superfund, such as brokerage or adviser’s fee.

Did you know?
Difference in the fees fund charge can have a big effect on what you may have to retire on. This effect may be more than you think and for this reason you need to consider what fees are being charged. For example, your final return could be reduced by 20 per cent over 30 years if your total amount of fees and costs are 2 per cent rather than 1 per cent (eg, from $100,000 to $80,000). Some funds may also charge an exit fee if you leave the fund.