With the increase in “virgin investors” over the last Covid-19 riddled 18 months, I wonder how many are in fact SMSFs. Is your Sharesight account an SMSF? Do you believe we should have our own plan? Let me explain …
I have a small family SMSF on the Starter plan. I only have one portfolio and really don’t need a bunch of custom groups. Likewise i don’t need all the extra reports that go along with the Investor plan or an upgraded support level. I am , however, approaching the 20 holdings limit that means the fund will have an increase in subscription costs if I have a few more investments.
It sometimes feels like the extra cost is holding back on the extra investments. I would like to have all my portfolio in Sharesight, not just some of it, but find it annoying to justify the cost increase.
What is the chance of a price point for SMSFs (based on the Tax Settings) that would allow for an increased holdings limit without all the other filly bits?
Let’s say - 1 Portfolio, 50 holdings, 1 custom group, basic support, starter plan portfolio features, starter plan reports + diversity report.
Your thoughts?
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Hi @My_SMSF ,
Welcome to the Community and thank you for choosing Sharesight.
We don’t have any plans to release a separate SMSF plan or product. A lot of our customers who have SMSFs use our Investor or Expert plans to manage their SMSF tracking and performance. Many report savings on audit and administration fees as a result of time saved using Sharesight reporting and data consolidation, so it might be worth a conversation with your accountant, to see if sharing your portfolio, will offset a portion of their fees. They may also be able to help you claim the cost of your Sharesight subscription.
In order to claim Sharesight subscription costs, Accountant advised that subscription has be on smsf name and also the money need to come out of bank account, whereas sharesight looks for credit card payment. Not sure whether existing account name can be changed to smsf. Any clarification on this much appreciated
Welcome to the Community @rn233343.
Our support team will be able to help you with this, they can be contacted using the chat window in the bottom left. 
Another idea is the discount option for members of the Australian Shareholders Association.
Of course, then you have to be a member of THAT org. 
could you publish the approach to making the subscription tax deductable for an SMSF
Hi rn233343. I also am using Sharesight for SMSF. My accountant said the same as yours did. The Sharesight people assisted by changing the credit card payment section on the Billing page to a Bank Transfer option. However, the first person to reply on the chat told me that only Credit card payment was possible, and I would have to do that first and then they could change it in the back end. I had read elsewhere that Bank Transfer was a possibility, so I found an historical email from one of the Sharesight team, and he arranged the change to the form. He was very helpful. But it took almost 24 hours for a reply originally, though the chat room says usually you get a reply in 3 hours.
Sharesight - this information needs to be clearly visible on your site, and chat room assistants need to be up to date about this option. There must be many others how would find this helpful.
Hi My_SMSF. I agree with your proposal about a SMSF plan. Good suggestion.
I honestly do not see the problem. If you purchased the subscription to Sharesight to manage your SMSF then presumably it is an SMSF expense. I have been using my personal credit card to pay my business expenses for years then refunding myself with a direct credit from the business. Although of course, you should check with your accountant and if the money has to come out from the SMSF then use direct credit.
Thanks for your reply. I think ‘rules’ for SMSF’s are different to other businesses. As rn233343 said, Accountant advised that subscription has to be in SMSF name and the money needs to come out of SMSF bank account. We have also experienced this with other SMSF purchases such as stationery and office equipment. I think it’s to do with the requirements of the annual audit for SMSFs. Also SMSF’s can’t invest in the same products that individuals/businesses can eg the SMSF can only invest in certain products with particular guarantees, and get about half the interest rate that I can get personally (not that interest rates are currently any good wherever you put your cash…).
Yes understood. One other point. When your SMSF is all in pension mode there is no tax to offset the expense against. In this case you would be better claiming SS as an expense for managing your personal investing If you do this as well.
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