Trustees of an SMSF must ensure that their SMSF complies with the Superannuation Act and with the Superannuation Regulations. With Superannuation Warehouse as your administrator, the audit service is included in the fee we charge. We arrange for the audit and pay for it. The cost of the audit is included in your monthly payments. If you prefer, you can handle your SMSF’s accounting and tax yourself and only engage us for an audit. To obtain an SMSF audit quote, follow this link. To prepare for the audit, please download the audit checklist from our audit page. You can also download a template for accounts preparation, tax returns, Trustee minutes and other documents from our free downloads section. For more info on audit requirements, see our audit page.

• Operating the SMSF within the rules of the Trust Deed
• Adhering to the Investment strategy
• Investing according to the Trust Deed
• Keeping records of membership details (and retaining records for a minimum of 5 years)
• SMSF Annual Tax Returns and lodgment with the ATO (and retaining records for a minimum of 5 years)
• Arranging the Audit
• Keeping accurate and accessible accounting records of the SMSF
• Preparing annual Financial Statements for the SMSF
• Preparing the minutes of Trustees meetings
• Paying the annual $259 Superannuation Supervisory Levy (was $150 in 2010) as part of the annual tax return
• Staying abreast of legislative changes relevant to SMSF compliance

Being a Trustee of an SMSF is a responsible position that can also be very rewarding, especially when you see your Superannuation balance grow.

To appoint Superannuation Warehouse as your administrator, either for a new SMSF set-up or to take over an existing SMSF, CLICK HERE.  For videos discussing the Coronavirus relief for Trustees, click on this link.