There is no statutory minimum balance to start an SMSF.
The government and most companies focus on the minimum dollar amount that is suitable for setting up an SMSF. Superannuation Warehouse makes SMSF’s available to many more individuals by keeping the setup and monthly fees as low as possible.
The costs Trustees of an SMSF will incur are as follows:
Based on the above, most people can run an SMSF cost-effectively with an SMSF Superannuation balance starting from between $50,000 and $100,000.
Members in an SMSF can have a nil-balance in the Fund as long as they have a realistic intention to contribute to the SMSF in the future. While there is no time limit to fulfill this intention, prolonged years without any balance or multiple members without a balance can throw doubt on their intention to be an active member and contribute to the Fund.
If you are ready to start an SMSF with us, click here to start the setup process.