As the cornerstone of SMSF Week 2020, the SMSF Association retained Rice Warner to update its report prepared for the Australian Securities and Investments Commission (ASIC) in May 2013 ‘Cost of Operating SMSFs‘ in the context of ongoing public debate regarding the appropriate minimum size for a Self Managed Superannuation Fund (SMSF) and ASIC advice regarding fees paid by SMSF Trustees.
The research establishes the size at which a fund becomes viable and then assess implications for funds which are below this threshold.
The analysis for the 2013 report was based on the statutory costs and fee structures for SMSF service providers in comparison to the fee structures of APRA regulated funds. The analyses were therefore based on potential fees. This analysis has been repeated.
For this report, Rice Warner has also been given access to anonymised expense, cash flow and balance information for approximately 100,000 SMSFs. This has allowed them to consider actual costs incurred.
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Disclaimer: Technical Papers contain general advice only and are prepared without taking into account particular objectives, financial circumstances and needs. The information provided is not a substitute for legal, tax and financial product advice. Before making any decision based on this information, you should assess its relevance to the individual circumstances of your client. While the SMSF Association believes that the information provided is accurate, no warranty is given as to its accuracy and persons who rely on this information do so at their own risk. The information provided in this bulletin is not considered financial product advice for the purposes of the Corporations Act 2001. © SMSF Association