Updated 8 October 2026
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What an SMSF accountant does (and what we will not do)
Trustees are responsible for the fund, but the accounting is specialised: member balances, contribution caps, pension minimums, transfer balance account reporting, tax on earnings and the annual audit all have to reconcile. An SMSF accountant keeps that straight and lodges the annual return.
Two things we will not do. We do not audit the funds we prepare; the law requires an independent ASIC-registered auditor, and we coordinate that audit for you. And we do not give personal financial advice on what the fund should invest in; that is a separate licensed activity. We will tell you what the rules allow and what the tax effect is.
Each year the fund also has to show its assets at market value, review its investment strategy and minute the decisions trustees made. Those items are part of our annual work rather than extras, because the auditor will ask for every one of them.
What is included every year
| Included | What it covers |
|---|---|
| Financial statements | Statement of financial position, operating statement and notes, prepared on Class |
| Member statements | Opening and closing balances, contributions, earnings, pension payments, tax-free and taxable components |
| SMSF annual return | Prepared and lodged with the ATO, including the supervisory levy |
| Audit coordination | We brief the independent auditor, answer their queries and clear the audit |
| Trustee minutes and resolutions | Investment strategy review, pension and contribution resolutions |
| Transfer balance account reporting | TBAR events lodged on time |
| Actuarial certificate | Arranged where the fund has both a pension and an accumulation interest; the actuary's fee is itemised separately, outside the fixed fee |
| Class portal access | Live view of the fund's position and documents |
What it costs
Fixed annual fees, agreed before we start, with the audit fee, the ATO supervisory levy and any actuarial certificate itemised separately so there are no surprises.
| Service | Fee (inc. GST) |
|---|---|
| Annual administration: accounts, member statements, annual return, audit coordination | $1,700 to $4,000 a year, fixed for the year |
| New fund establishment: trust deed, special purpose trustee company, ABN, TFN, electronic service address, bank account support and rollover coordination | $2,500 to $3,500 one-off |
| Independent audit fee and ATO supervisory levy | Itemised separately |
Within the annual range, a simple fund holding cash, term deposits and listed shares sits at the low end; a fund with property, a limited recourse borrowing arrangement or a pension running with an actuarial certificate sits higher.
What moves the fee: the number of investments, whether there is property or borrowing, whether a pension is running, and how clean the records are when we take the fund on. Ask for a quote and you will have the figure in writing within one business day.
Property in your SMSF
Property is where SMSF accounting gets tested. The fund's accounts must show the property at market value each year, and the auditor needs objective, supportable evidence for that figure (Regulation 8.02B of the SIS Regulations). Where the property is leased to a related business, the auditor also tests the rent against market.
Our valuation practice, SMSF Property Valuations, prepares desktop valuation reports with a rental assessment for exactly this purpose: $245 for residential and $550 for commercial property, inc. GST, prepared by Mike Wilczynski, Chartered Accountant and Certified Property Valuer certified by the Australian Valuers Institute. We also prepare retrospective valuations where an earlier year's figure needs support.
Limited recourse borrowing arrangements, related party leases and in specie transfers are all routine for us. See our guide to buying property in an SMSF, our property investor accounting page and our SMSF lending page if the fund will borrow.
How the work gets done
An Adelaide-based chartered accountant reviews and signs off every fund. The year-end work is done by a dedicated team of three, a senior accountant, a junior accountant and a bookkeeper, working on Class under that CA's review. That structure is why our fees are fixed and why turnaround does not slip at year end. You deal with one Adelaide contact, send documents once a year through the portal, and see the fund's position in Class whenever you like.
Moving an existing fund to us
Most funds move at the start of a financial year, but a mid-year move is fine. We take the data from your current Class or BGL file (or rebuild from statements), bring any overdue returns up to date, and brief the auditor on the handover. You will need to tell your current accountant, sign an ethical letter authority and give us the trust deed, the latest financial statements and the bank and broker logins or feeds.
Thinking about starting a fund?
We can set up the fund (deed, ABN, TFN, electronic service address, bank account support and the first investment strategy) and run it from year one. Whether a fund suits you depends on your balance, your appetite for the trustee role and what you want to hold; our guide to SMSF accounting services for business owners covers the decision. If you earn more than the Division 293 threshold, our Division 293 calculator shows the extra contributions tax before you decide.
Adelaide based, Australia-wide
We are at Level 2, 70 Hindmarsh Square in the Adelaide CBD. Because the work runs on Class and documents move through the portal, we act for trustees in every state. Adelaide trustees who want to meet in person can book a time at the office; see SMSF accountant Adelaide.
Common questions
How much do accountants charge for an SMSF?
Our fees are fixed and quoted before we start: $1,700 to $4,000 a year for most funds, and $2,500 to $3,500 to establish a new fund. What moves the price is the number and type of investments, whether there is property or borrowing, whether a pension is running and the state of the records. The audit fee and ATO supervisory levy are itemised separately.
Do you need an accountant for an SMSF?
The law does not require one, but every fund must lodge an annual return and be audited every year by an independent auditor, and the auditor needs workpapers that reconcile. In practice almost every fund uses an accountant for the accounts, the return and the audit file.
Can I prepare my own SMSF tax return?
Yes, trustees can. The audit still has to happen and the auditor will need financial statements, member statements and supporting evidence in a form they can test. Most trustees find the accountant's fee is less than the time and the risk.
Can an accountant set up an SMSF?
Yes, for the structure: trust deed, trustee company if used, ABN, TFN, electronic service address and bank account. Advice on whether to set one up and what to invest in is personal financial advice and sits with a licensed adviser.
Can an SMSF claim GST on accounting fees?
A fund registered for GST can claim a reduced input tax credit of 75 per cent of the GST on accounting and administration fees. Most SMSFs are not registered for GST unless they hold commercial property, so for most trustees the answer is no.
Can you take over an existing fund mid-year?
Yes. We collect the Class or BGL data and the prior-year workpapers from the outgoing accountant under one signed authority, bring any overdue returns up to date and run the next cycle end to end.
Talk to an SMSF accountant
Tell us what the fund holds and we will put a fixed fee in writing within one business day.
Talk to an SMSF accountantGeneral information only, current at the date of publication, and not personal tax, legal or financial advice. Consider your circumstances or speak with us before acting. Valuation services are provided by SMSF Valuation Reports Pty Ltd. Liability limited by a scheme approved under Professional Standards Legislation.