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August 2025 SMSF newsletter

Tax-saving strategies only available to SMSFs
Super is arguably the most tax-effective investment vehicle, but SMSFs have more flexibility than large funds when it comes to managing tax outcomes. Read more.
Tax-saving strategies only available to SMSFs
Super is arguably the most tax-effective investment vehicle, but SMSFs have more flexibility than large funds when it comes to managing tax outcomes. Read more.
Common financial mistakes SMSF trustees make before retirement
Not being aware of your entitlements can mean missing out, and it’s a surprisingly common mistake for SMSF trustees as retirement nears. Read more.
Common financial mistakes SMSF trustees make before retirement
Not being aware of your entitlements can mean missing out, and it’s a surprisingly common mistake for SMSF trustees as retirement nears. Read more.
Case study: Transferring shares into your SMSF (an in-specie transfer)
There can be substantial tax benefits in transferring shares into your SMSF, especially once you retire, but strict rules apply. Read more.
Case study: Transferring shares into your SMSF (an in-specie transfer)
There can be substantial tax benefits in transferring shares into your SMSF, especially once you retire, but strict rules apply. Read more.
SMSFs and cryptocurrency investments
As crypto investments surge in popularity, the ATO has issued guidance for SMSF trustees keen to dip a toe in the virtual asset water. Read more.
SMSFs and cryptocurrency investments
As crypto investments surge in popularity, the ATO has issued guidance for SMSF trustees keen to dip a toe in the virtual asset water. Read more.
How to prepare for an SMSF auditor and fill in your SMSF tax return
Even if you outsource most of the boring SMSF admin, there are two annual tasks trustees can’t avoid. Read more.
How to prepare for an SMSF auditor and fill in your SMSF tax return
Even if you outsource most of the boring SMSF admin, there are two annual tasks trustees can’t avoid. Read more.

Super contributions workshop

Thursday 21 August 2025 at 11:00 am AEST

How does the 3 year bring forward rule actually work? What are the tax benefits around the unused concessional contribution rules? When is the best time to make large contributions to super?

This webinar will take you through all of the issues relevant when making contributions to your superannuation fund and answer all of your contributions questions.

What is the sole purpose test, and how does it work?
As the name suggests, the savings you accumulate in super are meant to be for one purpose only. Straying from that purpose can be costly. Read more.
What is the sole purpose test, and how does it work?
As the name suggests, the savings you accumulate in super are meant to be for one purpose only. Straying from that purpose can be costly. Read more.

August 1

Investment strategy implementation: It’s time to implement any investment decisions that need to be executed. Have equity market movements resulted in a shifting of your asset allocations? Are you now seriously overweight in financials, for example, and need to sell some to rebalance towards another sector such as retail?

Think about reallocating in accordance with your investment strategy or revising your investment strategy if that is necessary. Keep all trustees in the loop with a trustee meeting and don’t forget to minute any major decisions you make for the SMSF and keep a record of it.

Remember, the ATO requires you to keep the following records for a minimum of five years:

  • Accurate and accessible accounting records that explain the transactions and financial position of your SMSF
  • An annual operating statement and an annual statement of your SMSF’s financial position
  • Documentation showing decisions made about what benefit payment type was paid (pension, lump sum, or a combination of both) and the account the payment was paid from
  • Copies of all SMSF annual returns lodged
  • Copies of transfer balance account reports lodged
  • Copies of any other statements you are required to lodge with the ATO or provide to other super funds.

And these records for a minimum of ten years:

  • Minutes of trustee meetings and decisions if matters affecting your fund were discussed, for example, you reviewed the fund’s investment strategy
  • Records of all changes of trustees
  • Trustee declarations recognising the obligations and responsibilities for any trustee, or director of a corporate trustee, appointed after 30 June 2007
  • Members’ written consent to be appointed as trustees
  • Copies of all reports given to members
  • Documented decisions about storage of collectables and personal use assets.

August 17

Auditor appointment: If you established your SMSF last financial year, or if you did not lodge your annual return on time the previous financial year, you need to lodge your annual return by 31 October. That means you need to start thinking about appointing an auditor for the audit report to lodge with your annual report.

Don’t forget, you need to appoint your SMSF auditor no later than 45 days before you must lodge your SMSF annual return.

You can search for a registered SMSF auditor on the ATO website here.

You need to provide your auditor with all the relevant information for them to audit your fund. This includes all information concerning your accounts, transactions and investments.

The auditor needs the SMSF balance sheet, the SMSF income statement and an SMSF member statement.

They may ask for additional information, which you must supply within 14 days of their request, so the sooner you get onto this the better.

The auditor is also required to report certain contraventions they see to the ATO.

Important: All information on SuperGuide is general in nature only and does not take into account your personal objectives, financial situation or needs. You should consider whether any information on SuperGuide is appropriate to you before acting on it. If SuperGuide refers to a financial product you should obtain the relevant product disclosure statement (PDS) or seek personal financial advice before making any investment decisions.

Superguide Pty Ltd ATF Superguide Unit Trust as a Corporate Authorised Representative (CAR) is a Corporate Authorised Representative of Independent Financial Advisers Australia, AFSL 464629.