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.

Rates
Features
Fees
Other
Lender
Variable
More details
Includes NOV RBA Rate Increase
  • Refinance only offer. No application fee and no settlement fee
  • No monthly, annual or ongoing fees
  • Access your SMSF loan via our easy-to-use online app Smart Money
Includes NOV RBA Rate Increase

loans.com.au – SMSF 70

  • Refinance only offer. No application fee and no settlement fee
  • No monthly, annual or ongoing fees
  • Access your SMSF loan via our easy-to-use online app Smart Money
More details
Variable
More details
  • Fully functioning offset.
  • Rapid Refinance available - receive approval in as little as 48hrs
  • 50m2 of beach & coastline cleaned with every loan settled.

WLTH – Ocean SMSF 60 P&I ($50k - $2m)

  • Fully functioning offset.
  • Rapid Refinance available - receive approval in as little as 48hrs
  • 50m2 of beach & coastline cleaned with every loan settled.
More details
Variable
More details

Reduce Home Loans – Capitalizer SMSF 70 Metro

    More details
    Variable
    More details

    La Trobe Financial – SMSF Residential

      More details
      Variable
      More details

      Firstmac – SMSF 70 (Refinance Special)

        More details
        Variable
        More details

        Liberty Financial – Liberty Residential SMSF (LVR < 80%)

          More details
          Variable
          More details

          Yard – SMSF Loan (Principal and Interest) (LVR < 80%)

            More details
            Variable
            More details
            • Fully functioning offset.
            • Rapid Refinance available - receive approval in as little as 48hrs
            • 50m2 of beach & coastline cleaned with every loan settled.

            WLTH – Ocean SMSF 80 P&I ($50k - $2m)

            • Fully functioning offset.
            • Rapid Refinance available - receive approval in as little as 48hrs
            • 50m2 of beach & coastline cleaned with every loan settled.
            More details
            Variable
            More details
            • Fully functioning offset.
            • Rapid Refinance available - receive approval in as little as 48hrs
            • 50m2 of beach & coastline cleaned with every loan settled.

            WLTH – Ocean SMSF 90 P&I ($50k - $1.5m)

            • Fully functioning offset.
            • Rapid Refinance available - receive approval in as little as 48hrs
            • 50m2 of beach & coastline cleaned with every loan settled.
            More details
            Variable
            More details
            Includes NOV RBA Rate Increase
            • Available for Purchase and Refinance
            • No application fee and no settlement fee
            • No monthly, annual or ongoing fees
            Includes NOV RBA Rate Increase

            loans.com.au – SMSF 80

            • Available for Purchase and Refinance
            • No application fee and no settlement fee
            • No monthly, annual or ongoing fees
            More details
            • Refinance only offer. No application fee and no settlement fee
            • No monthly, annual or ongoing fees
            • Access your SMSF loan via our easy-to-use online app Smart Money

            More details
            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 December 11, 2023. View disclaimer.

            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.

            Image by Joshua Hoehne via Unsplash