What is a Supervisory levy or SMSF Super Levy?
Supervisory levy or SMSF Super levy is charged by the tax office to each self-managed super fund every year to monitor the compliance of the SMSF sector.
How much do I need to pay?
How much smsf super levy need to pay depends on if its newly registered SMSF, exiting continuing SMSF or winding up year of the fund.
- Newly registered SMSF
For newly registered SMSF and first year the annual return Super levy will be paid double which consists of next year advance payment of the levy and currently totals $259+$259 = $518
- Continuing SMSF
For existing SMSF Super levy will only be paid for the current year of the return which is currently $259.
- Winding up SMSF
In the final year of the SMSF return that is the wind-up year no levy will be charged by the tax office as this levy was already charged by the tax office in advance in the previous year.
As the advance payment of the Super levy was started from 2013 financial year there was special arrangements for 2013 and 2014 financial year to make additional levy payment (advance payment) happen. Up to 2012 financial year levy was charged per year for the year of the annual return lodgement without any advance levy payment for the next year.
Supervisory levy in detail as below:
Newly registered superfunds – 1st year return
| Year of registration | Super Levy | Super levy calculation |
| 30 June 2015 to current | $518 | Levy for current year $259 and next year $259 |
Existing/continuing funds
| Year ending | Super Levy | Super levy calculation |
| 30 June 2015 to current | $259 | SMSF supervisory levy for next financial year |
Winding up funds
| Super Levy | Super levy calculation | |
| Ongoing | $nil | Not payable as its already paid in advance in previous year |
