Question 1

What is an SMSF?

Accepted Answer

A Self-Managed Super Fund (SMSF) is a private superannuation fund that you manage yourself, regulated by the ATO.

An SMSF can have up to 6 members, who are also the trustees — or directors of the corporate trustee.

Question 2

How long does it take to set up an SMSF?

Accepted Answer

Most funds we set up are operational within days.

Timing depends on receiving complete information from each member and verified proof of identity.

Question 3

Should I use individual trustees or a corporate trustee?

Accepted Answer

A corporate trustee structure is generally recommended for asset protection, simpler member changes, and a clear separation between fund and personal assets.

Individual trustees can still be appropriate in some situations — typically where setup cost is the primary concern.

Question 4

How many members can an SMSF have?

Accepted Answer

An SMSF can have up to 6 members.

All members must be trustees (or directors of the corporate trustee), with limited exceptions for single-member funds and minors.

Question 5

What does it cost to set up an SMSF with easySMSF?

Accepted Answer

We charge one fixed setup price per trustee structure — there are no hidden extras. The corporate trustee option is $1,699, and that price already includes the $636 ASIC company registration fee.

Some providers advertise 'free' setup but leave the $636 ASIC fee payable on top. We include it so the price you see is the price you pay.

The fee is normally paid upfront by the members. Once the SMSF is established and its bank account is open, members can be reimbursed from the fund.

Question 6

What's included in the monthly administration fee?

Accepted Answer

One fixed monthly fee covers the fund's accounting, annual tax return preparation and lodgment, and coordination of the independent audit — the audit fee itself is included.

There is no percentage-based charge on your balance, ever. The fee is the same whether your fund holds $100,000 or $1,000,000.

Question 7

Who audits my SMSF?

Accepted Answer

Your SMSF is audited annually by an independent, ASIC-registered auditor, as required by the ATO.

We coordinate the entire process for you, and the audit fee is included in our annual administration fee.

Question 8

Who pays SMSF setup costs?

Accepted Answer

The fee to set up an SMSF is normally paid upfront by the members.

Once the SMSF is established and its bank account is open with funds received from contributions or rollovers, the member can be reimbursed for the setup costs from the SMSF.

If the setup cost is not reimbursed, it can instead be recorded in the SMSF accounts as a personal contribution — and the member may technically be able to claim a personal tax deduction for that contribution.

easySMSF does not enable you to set up an SMSF without paying the upfront establishment fee. Most members pay by credit card and then reimburse themselves within 2–3 weeks once the SMSF receives the transfer of their existing super.

Question 9

Can I switch to easySMSF from another administrator?

Accepted Answer

Yes. We manage the handover end-to-end: we contact your outgoing administrator, collect the fund's records and bring your fund onto our platform.

Your fund keeps its ABN, bank account and investments — only the administration changes.

Question 10

What can my SMSF invest in?

Accepted Answer

Within the super rules, your fund can invest in Australian and international shares, ETFs, managed funds, property, term deposits and cash. Crypto is supported separately on specified Australian-regulated exchanges.

Whatever you choose, investments must meet the sole purpose test and be allowed by your fund's investment strategy and trust deed.

Question 11

Which share broker does easySMSF use?

Accepted Answer

We open an Interactive Brokers (IBKR) account for your fund during setup, giving access to 150+ markets across 33 countries — not just Australian and US shares.

easySMSF receives no brokerage commissions, trading rebates or margin on your fund's cash from IBKR, so we have no financial interest in how often you trade.

Question 12

Do I have to use Interactive Brokers, or move my existing broker?

Accepted Answer

No. IBKR is the default we open during setup because of its global market access, but it isn't mandatory — you're not walled in.

If your fund already uses another supported broker, you can keep it, and you choose your own bank account.

Question 13

Can my SMSF buy property?

Accepted Answer

Yes — an SMSF can purchase residential or commercial property, subject to the super rules. Property bought with a limited recourse borrowing arrangement (LRBA) has additional requirements.

easySMSF administers funds with direct property and LRBAs, and our property administration fee covers the extra accounting and compliance work involved.

Question 14

What compliance work does an SMSF involve each year?

Accepted Answer

Every SMSF must keep proper records, value its assets, prepare financial statements, lodge an annual return with the ATO and undergo an independent audit each year.

easySMSF handles this recurring compliance work for you — accounting, tax return and audit coordination — so the annual cycle doesn't land on your desk.

Question 15

What are my responsibilities as a trustee?

Accepted Answer

Trustees remain legally responsible for the fund's decisions, even when administration is outsourced. That includes acting in members' best interests, keeping fund assets separate and following the investment strategy.

Our role is to do the administration heavy lifting and flag obligations as they arise, so meeting those responsibilities is straightforward.

Question 16

What happens if my SMSF breaches the rules?

Accepted Answer

The ATO can impose administrative penalties on trustees, issue rectification directions, make the fund non-complying — which carries a significant tax cost — or disqualify trustees in serious cases.

Most breaches we see are inadvertent and fixable. If something goes wrong, we help you rectify it and, where appropriate, work with the auditor and the ATO's early engagement process.

Question 17

Do you provide financial advice?

Accepted Answer

No. easySMSF provides administration services only and does not provide financial product advice.

Information on this site is general in nature and does not take your personal circumstances into account.

SMSF questions, answered plainly

Setting up your SMSF

Ongoing administration

Investing your super

Compliance & your responsibilities

Ready to set up or switch your SMSF?

SMSF setup explained

Fixed-fee pricing

What an SMSF costs