Trustees of an SMSF should retain proper and accurate tax and superannuation records as a part of their responsibilities as the managers of the Fund. This includes keeping record of all Minutes of Meetings. The typical content of once-off Minutes can be:
Annual Minutes are prepared by Superannuation Warehouse as part of the annual compliance function. This forms part of the Financial Statements and Tax Returns. The purpose of the annual Minutes is to confirm compliance of the SMSF and will also note the following:
Minutes of Meeting must be signed and kept for 10 years. This is an ATO compliance requirement.