When setting up an SMSF it is important to understand that additional fees may apply that must be carefully considered prior to making a decision to setup an SMSF including:
ATO Supervisory Levy
The ATO charges an annual levy of for each SMSF. This annual ATO Levy applies to all SMSF's and not just SMSF’s administered by ESUPERFUND. Accordingly the annual ATO Levy cannot be avoided irrespective of which provider you choose to administer your SMSF.
Company Trustee Setup Fee (where applicable)
When setting up an SMSF you can appoint either Individuals as SMSF Trustees or a Company as Trustee. Each option is discussed here. For your convenience, if you do not have an existing Company and would like to establish a Company to act as Trustee for your SMSF, ESUPERFUND offers a Company Setup Service as part of its online SMSF application here. The cost of establishing a Company with ESUPERFUND is . In addition where the sole purpose of the company is to act as Trustee for a SMSF (for a "special purpose") the annual ASIC review fee is reduced to per annum compared to per annum for a company that is not a "special purpose" company. These fees can be avoided by using Individual Trustees for your SMSF . There is no additional annual fee payable to ESUPERFUND to manage the Company. Please note that you are not obligated to use the ESUPERFUND Company Setup Service and can arrange to setup a Company with any provider desired. The Company details can in turn be entered into our online application when applying for an SMSF here.
When you setup an SMSF you can invest in a range of different Investments as detailed here. It is important to understand that fees may be incurred when investing your Super Benefit including but not limited to brokerage fees when investing in shares and property purchase costs such as stamp duty and borrowing costs when investing property. Information about Investment Fees can be typically found by reading the product disclosure statements and terms and conditions of the relevant Investment (where applicable) or by contacting the Product Provider directly.
You should obtain your own independent financial and taxation advice about whether setting up an SMSF is appropriate for your circumstances.