As trustee of a self-managed super fund, you get the honour of ensuring your fund complies with taxation and superannuation laws. In your role as trustee, you’ll need to ensure the following administrative obligations are met:
- SMSF Audit
Your SMSF needs to be audited each year by an independent auditor who will check the fund complies with superannuation law.
- Lodge SMSF Annual Return (SAR)
Once the audit is complete, the assets of the SMSF need to be evaluated so statements and the SAR can be prepared. The SAR can then be lodged.
- Document and lodge transfer balance account report (TBAR)
When a member of the SMSF commences a pension phase income stream, you will need to begin lodging a TBAR.
- Keep Records
There are a number of documents that must be correctly prepared and stored for several years for your SMSF to remain compliant.
The super industry is heavily regulated — and for good reason — but this can make the administration of an SMSF complicated, messy and time-consuming. The compliance documents required can be very convoluted, and it is strongly advised that members of the fund seek professional assistance with the administration side of the SMSF. This is where we come in!
We help you by preparing:
Our SMSF audit, accounting, and administration service takes care of everything you need regarding tax compliance, annual reporting and administration obligations. As trustee of an SMSF, you’re in complete control, but we’re here to offer our expert services and advice to ensure your SMSF financially thrives while maintaining compliance.