JDFP - Diversity by Design

SMSF Annual Requirement

Accounting
The accounting fucntion is a large part of the annual requirements, as is does the final count of the assets and finalises the books with the lodgement of the tax return.

Audit
Every year it is required that the SMSF be audited and checked with certififcate provided, the auditor will also report to the ATO any breaches. One of the advantages of our ongoing compliance monitoring is that if there are issues that arrise we can have them resolved before the audit if possible and avoid any further complciations with the Auditor and the ATO.

Insurance Review Report and Certificate
It was recently made a annual requirement that the trustee of the SMSF consider the insurance needs of the funds members, so each year we can assit you with this review and generate a report and certificate.

Investment Strategy Report and Certificate
The Self Managed Superannuation Fund can be invested in a broad range of assets. However regulations require the Trustee/s to establish, document and implement an investment strategy. This is a yearly report generated on behalf of the Trustee/s taking into account such matters as risk, return, diversification, cash flow and liquidity for the "sole purpose" of generating benefits for the members while adhering to proper commercial standards.

Property Valuation Report and Certificate (if applicable)
Another recently added requirement is that any property owned by the fund needs to valued each year.