The Supervisory Levy is a fee charged by the ATO on each SMSF. This is added to the tax return for each SMSF and paid to the ATO. When the SMSF is assessed for tax, this Super Levy Surcharge is added to the total payable to the tax office.
The ATO Supervisory Levy fee is $259. This amount is applicable for the Financial Year 2014/15 and onwards.
If your SMSF had $1,000 taxable income, e.g. interest income, the tax on this is calculated at 15% = $150. The Super Levy Surcharge is added to this for $259 (2017) so the total payable to the ATO is $409 to the tax office via the tax assessment.
Funds that are newly registered are required to pay the supervisory levy for the year in which they are set up as well as in advance for the following financial year. For example, if a Fund is set up in 2016, the total supervisory levy payable in the 2016 tax return is $259 (2016) plus $259 (2017), which adds up to $518.
For more information on the Superannuation Levy Surcharge, follow this link to the ATO website: