Is your SMSF still meeting your needs in 2026?

Why 2026 matters

Two big changes are hitting from 1 July this year.

First, payday super becomes law. Employers will need to pay super at the same time as wages, not quarterly. That's a major shift for anyone running a business with staff. Your payroll systems, cash flow planning and super processes all need to be ready.

Second, the new Division 296 tax kicks in for anyone with a total super balance above $3 million. Earnings above that threshold will be taxed at 30% instead of 15%. If you're nowhere near that number, this won't affect you directly. But it's a sign that the government is paying closer attention to how super is structured, and getting yours right now means you're ahead of whatever comes next.

Why people set up an SMSF

Most people who move to a self-managed fund do it for control. They want to decide where their money goes, not leave it to a fund manager they've never met.

For business owners, there's a practical edge too. An SMSF can hold commercial property and lease it back to your business. Your business pays rent, that rent goes into your super at a 15% tax rate, and you claim the rent as a business expense. It's one of the most effective structures for building long-term wealth while you're still working.

You can also invest in direct shares, ETFs, term deposits, and other assets you actually understand, rather than being locked into whatever a retail fund decides to do with your money.

Is it right for everyone?

No. An SMSF comes with real responsibilities. You're the trustee, which means you're personally accountable for compliance, record keeping, annual audits and lodging returns on time. If you don't have the time or interest to stay on top of it, it can create more problems than it solves.

The general rule of thumb is that a balance of around $200,000 or more makes an SMSF cost-effective, because the fixed costs of running the fund (accounting, audit, ATO levies) take a smaller bite. But that's a guide, not a hard rule. If you're pooling balances with a partner, planning to buy commercial property, or making regular contributions, a lower starting balance can still work.

What to do next

If you've been sitting on the fence about an SMSF, here's the play. Get advice before 30 June. The new super rules take effect from 1 July, and having your structure locked in before then gives you the most flexibility. Even if you're not ready to set one up yet, a conversation now means you'll know exactly where you stand.

Need help deciding if an SMSF is right for you?

Book a confidential chat with Rob today.
📞 07 5409 2300
✉ info@ftaaccountants.com.au

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