If you’re an SMSF trustee and you’re not using the services of an accountant, you must provide your fund auditor with all relevant documentation for your fund’s accounts and financial transactions for the financial year being audited.
Set out below are all SuperGuide articles that relate to SMSF administration.
An SMSF trust deed is a legal document that outlines how the fund will be set up and how it will operate. An Australian SMSF must be established with a trust deed that is compliant with Australian superannuation legislation.
Want to avoid an SMSF penalty? Make sure you use our annual admin checklist.
Keep on top of these potential mishaps with your annual return and you should be able to avoid the ire of the regulator.
The minutes from trustee minutes are very important documents for your SMSF. Your auditor will examine them carefully every year and if your fund is ever randomly examined by the ATO, you will be in a much better position if you have comprehensive minutes around all major decisions made for the fund.
Running your own self-managed super fund has many benefits. But unless you have a high degree of SMSF and investment knowledge, as well as plenty of time available to manage your fund, you’re likely to need some professional help. Here we look at the factors you’ll need to consider before you choose a provider.
SMSFs provide members with a high degree of control over their retirement savings, but with that control comes responsibility. Here we look at the administrative, reporting and record-keeping obligations that trustees need to complete to ensure their fund complies with superannuation and taxation legislation.
There are many reasons why you might choose to wind up your self-managed superannuation fund (SMSF) – you’ve retired and you’re not taking a pension, you don’t have the time to manage it efficiently anymore, or a trustee might have passed away – but, just like starting a SMSF, there is a proper process to go through.
One of the first decisions you must make when setting up an SMSF is whether to choose a corporate or an individual trustee structure. We take a look at the pros and cons and the key differences between the two structures.
Having your own SMSF can be a rewarding experience, provided your fund is set up correctly from the get-go. Here are the nine steps required to get your SMSF up and running.
There’s debate in the SMSF sector as industry stalwarts question figures published by ASIC that suggest it costs $13,900 a year to run a DIY fund.
If you have a reasonable knowledge of accounting and administration software, you might want to handle your own SMSF accounts. We look at what’s involved to give you a better idea if it’s for you.
Part of the responsibilities of being a trustee for your self-managed superannuation fund include taking and keeping trustee minutes that keep a record of all major decisions made by the fund. So what exactly needs to be minuted and what should it look like?
It’s an idea to do a regular cost benefit analysis to ensure if you have an SMSF, it’s still the right way for you to structure your assets.
Breaking up can be hard to do, it can also be financially costly. If you share an SMSF, then you will need to split your assets. Here’s what you need to know.