How much super do you need to start an SMSF?
Setting up a self-managed super fund does come with a few costs, but can be a cost competitive alternative to retail and industry funds in some situations. People often start by asking if their superannuation fund balance is large enough.
One of the first questions people ask about self-managed super funds (SMSFs) is whether you have enough super to make one worthwhile.
The short answer, there's no minimum balance required by law.
SMSF cost-effectiveness depends on your circumstances, including your balance, investment strategy and the provider you choose.
Is there a minimum balance?
No, there’s no set minimum.
The Australian Taxation Office (ATO) doesn't have a set bar for establishing an SMSF, though it may consider whether a new fund is likely to be viable when assessing an application.
Some SMSF providers may also set their own minimum balance requirements.
How much super is generally considered enough?
There's no single balance that's applicable for all.
However, research commissioned by the SMSF Association and the ATO found that SMSFs may become cost-competitive from around A$200,000, depending on the fund and how it's managed.
The right balance for you will depend on your individual circumstances.
Why does your balance matter?
Many retail and industry super funds typically charge percentage-based administration fees. SMSFs generally have fixed annual costs.
That means the larger your balance, the less those fixed costs may represent as a percentage of your super.
It's one of the many reasons people consider their balance before deciding to establish an SMSF.
Costs of running an SMSF
The costs of running an SMSF can include:
Administration and accounting
An annual independent audit
The ATO supervisory levy
ASIC fees (if you have a corporate trustee)
Investment-related costs, depending on what you invest in
The total cost varies based on your provider and the complexity of your SMSF.
How Stake Super keeps costs simple
Stake Super charges a fixed annual administration fee from $990, which includes:
SMSF setup
Ongoing admin
Annual accounts
An independent audit
Preparation and lodgement of your annual return
That means fewer separate invoices and a clearer picture of what you're paying for.
Other fees and charges may apply depending on your setup.
How long does it take to set up an SMSF?
Setting up an SMSF typically takes one to three weeks. The timing depends on your circumstances and how quickly registrations and rollovers are completed.
We'll guide you through the process and take care of the admin, so you can focus on your investment strategy.
Wondering if an SMSF is right for you?
If you're weighing up whether an SMSF makes sense for your situation, we can walk you through how Stake Super works and what's involved.
Speak to a Stake Super specialist or get started online.
Frequently asked questions
This is not financial product advice, nor a recommendation that a self-managed super fund (‘SMSF’) may be suitable for you. Your personal circumstances have not been taken into account. SMSFs have different risks and features compared to traditional superannuation funds regulated by the Australian Prudential Regulation Authority (‘APRA’). Stake SMSF Pty Ltd, trading as Stake Super, is not licensed to provide financial product advice under the Corporations Act. This specifically applies to any financial products which are established if you instruct Stake Super to set up an SMSF. When you sign up to Stake Super, you are contracting with Stake SMSF Pty Ltd who will assist in the establishment and administration of an SMSF under a ‘no advice model’. You will also be referred to Stakeshop Pty Ltd to enable your trading account and bank account to be set up in order to use the Stake Website and/or App. For more information about SMSFs, see our SMSF Risks page.
Commercial Manager - Stake Super
Ciara is a Commercial Manager at Stake Super, with over 10 years of experience in the SMSF industry and an MA in Accountancy and Finance from Heriot-Watt University in Edinburgh, United Kingdom. Having previously worked at a chartered accounting firm and one of the largest SMSF administrators in Australia, Ciara has extensive knowledge of SMSF compliance. She is also a current member of the SMSF Association.
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