In an article for the website My Wealth News, Peter Wolfram talks about what the Self-Managed Superannuation Fund Professionals Association of Australia (SPAA) feel about the present SMSF costs.
Competition amongst vendors and the hand of technology will together have a decisive say in reducing the costs. Set-up, administration, and ongoing costs make up for the near $2200 that SMSFs have to fork out every year.
Costs have been more of a burden for low-balance SMSF accounts and this is where, advises SPAA, it is crucial to keep a tab on the operating cost ratio.
You can read the original article here.
