SMSF costs are competitive, if you get good data, according to software company BGL.
There has been growing concern that the Productivity Commission may recommend a minimum balance in order to have an SMSF, driven by seemingly high costs.
However BGL says the Productivity Commission is using “outdated and incorrect data”.
BGL extracted data from its Simple Fund 360 database – which includes over 165,000 SMSFs – and found that costs for SMSFs are competitive.
BGL Managing Director Ron Lesh said the data used by the Productivity Commission is “simply flawed”.