As your life situation changes, you may need to change or wind up your SMSF. You should regularly review your circumstances and decide whether to continue with your SMSF - or if you should wind it up. Maybe you’re going through a divorce, a trustee dies, or trustees fall out with one another, or you move overseas … or you simply don’t want to self-manage your super anymore. There are all manner of reasons to wind up an SMSF, and most come down to personal decisions.

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Looking to take control of your retirement? This table below features SMSF loans with some of the most competitive interest rates on the market.

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LenderHome LoanInterest Rate Comparison Rate* Monthly Repayment Repayment type Rate Type Offset Redraw Ongoing Fees Upfront Fees Max LVR Lump Sum Repayment Additional Repayments Split Loan Option TagsFeaturesLinkComparePromoted ProductDisclosure
6.99% p.a.
7.00% p.a.
$3,323
Principal & Interest
Variable
$null
$720
70%
  • Minimum 30% deposit needed to qualify
  • Available for purchase or refinance
  • No application, ongoing monthly or annual fees.
  • Dedicated loan specialist throughout the loan application
 Disclosure
7.19% p.a.
7.74% p.a.
$3,391
Principal & Interest
Variable
$395
$null
60%
  • Offset facility
  • EASY Refinance with minimal documentation
  • Residential & Commercial
  • Australia’s first certified Impact Lender
7.24% p.a.
7.26% p.a.
$3,407
Principal & Interest
Variable
$0
$710
70%
 Disclosure
7.25% p.a.
7.65% p.a.
$3,411
Principal & Interest
Variable
$30
$825
80%
7.74% p.a.
7.76% p.a.
$3,579
Principal & Interest
Variable
$0
$710
80%
 Disclosure
7.75% p.a.
7.83% p.a.
$3,582
Principal & Interest
Variable
$0
$995
80%
7.49% p.a.
7.50% p.a.
$3,493
Principal & Interest
Variable
$0
$720
80%
  • Minimum 20% deposit needed to qualify
  • Available for purchase or refinance
  • No application, ongoing monthly or annual fees.
  • Dedicated SMSF loan specialist throughout the loan application
 Disclosure
  • Minimum 30% deposit needed to qualify
  • Available for purchase or refinance
  • No application, ongoing monthly or annual fees.
  • Dedicated loan specialist throughout the loan application

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Important Information and Comparison Rate Warning

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of . View disclaimer.

Important Information and Comparison Rate Warning

What to consider when winding up an SMSF

There are a few scenarios and lingering questions that could trigger a trustee wanting to wind up their SMSF:

  • Do I have a good knowledge of trustee responsibilities and obligations?

  • Do I have the time to run the SMSF?

  • Are SMSF running costs more than I want to pay, or would another super fund cost less?

  • Am I able to continue managing the fund’s investments effectively, or would I get higher returns if my super was managed in another type of fund?

  • Do I still want the responsibility of running the fund, including paying fines if things go wrong?

  • Do all trustees still agree on how to manage the fund?

How to wind up your SMSF

If an SMSF is no longer for you, these are the steps towards winding it up.

  • Check the trust deed for any wind-up instructions. All Trustees or directors should agree about the wind up and document their decision.

  • Pay out or rollover the balance of members’ super to another fund, which may involve selling assets.

  • A final audit must be completed before you lodge the last SMSF annual return. Appoint an SMSF auditor to complete the final audit

  • Complete and lodge the final SMSF annual return (including wind up details)

  • After all expected liabilities have been settled and requested refunds are received, close the fund’s bank account.

  • Pay any outstanding tax and other debts before you close your fund’s bank account.

Alternatives to winding-up

If you want to keep going with an SMSF, but can’t manage the duties and responsibilities, you could change to a different type of fund where a licensed trustee takes over the obligations. This would come at a cost, but the time savings may be worth it to you. Savings.com.au advises to speak to an SMSF professional about other types of super funds. They can also help you decide if an SMSF is still right for you.

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