WE SUPER COST & SERVICES
Here’s a breakdown of the costs of a WE Super and the service you will receive from our SMSF experts
WHAT ARE THE COSTS OF AN IWSMSF?
Here a WE Super, we believe in transparency. That’s why our SMSF costs are broken down into only two fees – a setup fee and a monthly admin fee. These fees are flat-rate, meaning they will not increase as your super balance increases. They are also all-inclusive, so you won’t be surprised by a hidden fee or extra cost that you didn’t expect.
THE SET UP FEE
When you sign up for a Inner West SMSF, you will be charged a one-time setup fee of $2,550 (inc. GST). This fee covers the process of setting up your self-managed super fund, and also includes unlimited customer service to our SMSF experts. This one-time fee can be deducted from your SMSF cash account.
The audit fee is the fee to have your fund externally audited so that your fund maintains it's compliance status. This fee is $550 (Inc GST) It’s important to note that this fee paid to the external auditor.
The Admin Fee
Our monthly admin fee from $229.17 per month (inc. GST) covers the management of your self-managed super fund and is deducted from your SMSF cash account. This flat-rate fee doesn’t increase with your super balance, and doesn’t change based on your investment type, so you can focus on your retirement strategy and not on fees.
The ATO Fee
The final cost that will be deducted from your SMSF is decided by the ATO, or the Australian Taxation Office. This is a $259 supervisory levy that the ATO charges when we lodge your SMSF tax return. It’s important to note that this fee is entirely decided and controlled by the ATO, not by WE LOVE SMSF.
Establishment and registration of SMSF Trust
Establishment and registration of Special Purpose Corporate Trustee Company
Establishment of SMSF governing rules
Establishment and registration of investment strategy
Submission of “Election to be regulated” Compliance statement
Establishment of accounts with service providers
Set up of Bare Trust and Bare trustee when required for the purchase of property
Registration with Australian Tax Office
Rollover of other superannuation funds into SMSF
Annual compliance, administration and maintenance of SMSF
Annual return of Special Purpose Company
24/7 access to IWSMSF's online SMSF management portal
Business hour access to IWSMSF's technical experts
Fixed fee for 1 – 4 members and any number / value of assets
What Services are Included in our Setup and Admin Fees?
WHY CHOOSE WE SUPER - TRUST KNOWEDGE PARTNERSHIP
Here at WE Super, we provide our clients with unlimited customer service. This means that all of our clients have access to our team of experts and the services they provide - regardless of your super balance.
Our SMSF experts are available to help during the set up of your SMSF and whenever you need us once your SMSF is up and running.
We can help with the accounting, audit and tax questions as well as the rules of what your SMSF can invest in. However it is important to note that we do not offer personal financial advice.