Up to 3 Australian bank accounts or term deposits with any Australian bank or credit union
Administration Fees payable to Superannuation Warehouse are paid on a monthly basis. The fixed monthly Fee is $49 or $89 per month, depending on the option you choose.
Superannuation Warehouse charges a fixed monthly fee that is payable every month. This is fairer and more equitable than charging annual lump sum fees. An SMSF established towards the end of the financial year would, therefore, benefit from this arrangement because the SMSF wouldn’t have to pay a full year’s Administration Fees. In addition, having a Fixed Fee in your SMSF limits your risks in terms of unexpected Accounting and Audit Fees.
Superannuation Warehouse will set up a monthly debit order with your SMSF bank account. For example, if your SMSF is established on the 5th of the month, the monthly Fee will be payable on the 5th of each month.
This monthly fixed Fee is a tax deduction from your SMSF. It can be paid directly from your SMSF. This is not a personal expense – your SMSF pays the Fee.
It’s also possible to pay SMSF Fees from a personal bank account or by credit card. In these cases, the Fees you pay are regarded as contributions to your SMSF.
Superannuation Warehouse is the first SMSF administrator to charge Fixed Monthly Fees. The Fees are not annual payments spread over 12 months – this is a truly monthly payment. If you should ever decide to close your SMSF, for any reason, you pay up to the end of the final month and that’s all. There are no lock-in contracts and no Exit Fees. You are free to quit Superannuation Warehouse at any time. But, let there be no doubt, we’ll work our hardest (in the best possible sense) to keep you as a satisfied SMSF Trustee with Superannuation Warehouse
We think this is a fair and equitable system because it’s designed to work in your favour.