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Self Managed Super Funds

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Self Managed Super Funds

You want to make sure your retirement is fully funded and your future is secure, so we want to help you make sure your Self Managed Super Fund is fully tax compliant and problem free. At Innovative Accounting and Tax we can perform a full audit of your Self Managed Super Fund (SMSF), and perform a full tax compliance audit.

Why do I need an audit?

Under the Superannuation Industry (Supervision) Act 1993, anyone who runs a SMSF must ensure that an auditor, who is SMSF-registered, audits the fund every year. If you own a Self Managed Super Fund, you fall under this obligation and require an audit, and therefore will be subject to a series of checks.

What checks will be carried out on my SMSF?

The validity and accuracy of your Self Managed Super Fund’s financial records will be ensured, and your fund will be checked to make sure it complies with all the relevant rules of superannuation. This usually involves ensuring your fund meets the definition of a SMSF by checking the trust details, checking all financial statements, and analysing assets and liabilities.

What will I need to provide?

In order for us to complete your SMSF Audit, we will need to make sure we have all your necessary legal documentation such as deeds or declarations, financial statements, as well as a list of assets and liabilities. We will also need the details of the trust and trust members. We will guide you through this process by giving you a checklist of items to provide to us. This will make sure we have everything we need to get started and do a full compliance audit of your fund.

We are authorised to do these checks on your behalf so you can be assured of privacy of your information, as well as detailed and accurate feedback on any issues that may arise.

We offer very reasonable fixed fee SMSF compliance services and have all our funds audited externally. Prices start from $880 for tax compliance checks and $440 fixed fee for an audit.

Self Managed Super Fund Audit

from $880 for the tax compliance and $440 fixed fee audit

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