Common questions about SMSFs in Australia.

Preparation of all establishment documents can be done within a day if all the required information has been provided. Once the documents are signed, it typically takes up to 28 days for the SMSF to be registered with the ATO, a bank account to be opened, and the fund to be ready to accept contributions and rollovers.

An SMSF can have between 1–6 members. This can be beneficial if a family group wants to combine their super balances to invest larger amounts. However, it may be more difficult to reach consensus on investments when members are at different stages of life.

There can be occasions where a member can no longer remain in the SMSF — due to death, relationship breakdown, or other changes. The action required will depend on the situation. Because we keep track of member balances, it's straightforward to identify how much needs to be paid out or rolled over into another superfund. There are a few extra steps depending on the structure, but we'll guide you through the whole process.

SMSF setup costs in Australia typically include preparation of the trust deed, trustee minutes, corporate trustee setup (if applicable), and ATO registration. Ongoing costs include the annual audit, accounting and tax return lodgement, and any financial planning fees. At superco, we provide a transparent fee structure — book a free consultation to discuss costs for your specific situation.

Yes — every SMSF must be audited annually by an approved SMSF auditor before the fund's tax return can be lodged with the ATO. The audit covers both the financial statements and compliance with superannuation law (the SIS Act). At superco, we coordinate the audit process on your behalf with our network of approved auditors.

An Electronic Service Address (ESA) is required for your SMSF to receive employer super guarantee contributions electronically via SuperStream. If your SMSF receives employer contributions — including from your own business — you must have a valid ESA registered with the ATO. From 1 July 2026, this becomes even more critical as employer super must be paid on payday under the new Payday Super rules.

You may be able to make a personal concessional contribution into super. These types of contributions are tax deductible in your personal tax return.

If you are over 60 and can access your super benefits, the income you receive from your superfund is non-assessable non-exempt income. This essentially means it is tax free income for you.

The assessable income generated by your superfund is taxed at a maximum of 15%. If you only have pension accounts in your superfund, the tax rate is 0%.

The two main types are concessional and non-concessional contributions. Concessional contributions are taxable contributions — including your employer's super guarantee payments, salary sacrifice amounts, and personal contributions you claim a deduction on. Non-concessional contributions are after-tax contributions that go into the fund tax free with no deduction available. There are also spouse contributions, downsizer contributions, and the government's Co-Contribution and Low Income Super Contribution.

Depending on your SMSF trust deed, you could invest in listed Australian or international shares, unit trusts, managed funds, cash, term deposits, bonds, and property. There are some restrictions when it comes to property, collectables, and other unlisted investment types — so it's best to check before investing.

Yes. Even if you combine your super balances with other members to have a larger pool to invest with, we'll always keep track of whose balance is whose. These balances will grow or decrease with market movements proportional to your share. Your individual balance will also grow or decrease with any contributions or withdrawals you make.

In short, yes — commercial property can be held in an SMSF and leased back to a related party. There are some additional annual requirements to ensure owning the commercial property remains compliant, such as ensuring lease payments are at market rates. Note that owning and using an investment residential property for personal use isn't possible within an SMSF.