Should I have an SMSF? — decision engine
There's only one calculator that asks the right questions. Balance is the headline gate — but time, confidence, and what you actually want to invest in matter just as much. Get a score, a clear verdict, and the dollar comparison.
Built on 2025-26 ATO rates · Last reviewed April 2026
Tick everything you actually want. If nothing here applies, you probably don't need an SMSF.
All-in fixed fee, audit usually included · Plus ATO supervisory levy $259/yr.
Your current APRA fund (for the cost compare)
Before opening an SMSF, check if your existing fund's Choice menu (direct shares, ETFs) covers what you actually want. Often it does.
Reasons it suits you
- Balance of $350,000 is above the ATO's $250k cost-effective threshold.
- Direct ASX or international shares I pick myself: Some Choice options offer this — check before opening an SMSF
Watchouts
No major watchouts based on your inputs.
The dollar comparison
What you save on fees if you switch and reinvest the difference.
Better next steps for you (score 52)
- Run the underperformance check on your current fund. The single biggest move for most Australians is switching to a top-quartile APRA fund, not opening an SMSF.
- Audit your real fee load with the hidden fee audit. If you're paying over 1.0% all-in, switching APRA funds beats setting up an SMSF every time.
- If you specifically want direct shares or ETFs, look at your fund's Choice menu first. AustralianSuper, Hostplus, ART, REST and others all offer Member Direct or similar with no SMSF overhead.
- Revisit this calculator when your balance crosses $250k or your investment knowledge grows.
Honest reality check. SMSFs are powerful but unforgiving. You become a trustee — personally liable for breaches. The ATO can fine you ($14k+ per breach), force you to wind up, or make you pay 47% tax on income if non-complying. Most people who open SMSFs because "it's cheaper" find out it isn't, then find out it's also more work. Open one because you want what only an SMSF can deliver, not because you're chasing a few hundred dollars in fee savings.
Where these numbers come from
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Super vs SMSF — the honest answer →General information only — not financial advice. Super decisions are long-term; verify with a licensed adviser.