SMSF Administration Articles

(SMSF member statement template attached at the end of the article.) Not all SMSF accounting software has the function of detailed member reporting. An accountant could have reported thoroughly and beautifully on the fund’s financial position, operating performance, investment movements and tax, while not covering all the essential components for member statements. A good member […]

This article explains tax effect accounting for SMSF, provides a tax reconciliation template and an example of deferred tax calculation. Accounting for SMSF income tax transactions (tax effect accounting for SMSF) may have two separate effects: Current tax consequences which give rise to a current tax liability for income tax payable to the ATO Future […]

Decision to make during setup An SMSF is required to have a trustee. This trustee can be individuals or a company. A company acting as trustee is known as corporate trustee, instead of being individual trustees, members are directors of the corporate trustee. It costs less and is relatively easy to have individual trustees, which […]