Calculator
SMSF materiality calculator
Set overall, performance and clearly trivial materiality for the financial audit (Part A) of an SMSF from a chosen benchmark. Net assets available to pay benefits is the usual starting point.
Benchmark and percentages
Enter the benchmark, then adjust the percentages to suit the fund.
For example, net assets available to pay benefits.
Percentage of the benchmark. A common range is 5 per cent to 10 per cent.
Percentage of overall materiality. A common range is 50 per cent to 75 per cent.
Percentage of overall materiality, commonly up to 5 per cent.
- Overall materiality
- $0
- Performance materiality
- $0
- Clearly trivial threshold
- $0
Net assets is the usual benchmark for an SMSF because members are most concerned with the value of their benefits. A common overall range is 5 per cent to 10 per cent of net assets, performance materiality 50 per cent to 75 per cent of overall, and clearly trivial up to 5 per cent of overall. Materiality applies to the financial audit only. It does not apply to the contravention reporting tests, where a contravention is reportable regardless of dollar value.
General reference only, not advice on a specific fund. Confirm current figures each year. Data stays in your browser; nothing is sent anywhere.