The government levy

Every SMSF pays the ATO supervisory levy each year with its annual return. The ATO's levy page shows $259, the amount since 2014–15; a newly registered fund pays $518 in its first return, covering two years. In August 2026 the Government announced it will raise the levy to $295 and collect the first year's levy at registration, as part of a package of new SMSF consumer protections. Check the amount on your annual return.

The other costs

  • Setup: trust deed, corporate trustee (ASIC company fees apply if you use one, which is often recommended), ABN, bank account.
  • Each year: accounts and annual return, the independent audit (required by law), the levy, investment strategy review, and any advice fees.
  • Investments: brokerage, platform or property costs, and insurance for members.

Fees vary widely between providers, so get written quotes. Moneysmart notes the costs can make an SMSF poor value at lower balances.

New rules proposed in 2026

The August 2026 package includes mandatory trustee education before registration, a uniquely identifiable bank account in the fund's name and a written investment strategy before registration. These are proposals and need to be legislated; we will update this page.

Is it worth it?

Compare the all-in cost against a large APRA fund for your balance, and be honest about the time and duties: SMSF trustee duties, SMSF vs industry fund and is an SMSF right for you.

Quick answers

What is the SMSF supervisory levy?

The ATO page shows $259 a year ($518 in a new fund's first return). In August 2026 the Government announced a rise to $295.

Does an SMSF need an audit every year?

Yes. Every SMSF must be audited each year by an approved SMSF auditor before it lodges its annual return.

Sources

General advice warning. This article is general information only and does not take into account your objectives, financial situation or needs. Rules, rates and thresholds change; check the sources above. Consider the relevant PDS and our Financial Services Guide and seek personal advice before acting. FinForce is a Corporate Authorised Representative (No. 001241242) of Financial Force Pty Ltd, ABN 42 091 425 464, AFSL 238337.

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