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SMSF - Compliance services

Accounting & SIS regulation compliance services

SRC Consulting Group provides accounting services to SMSF by fulfilling all requirements of SMSF under the SIS and Income tax Act & regulations. Our service for accounting & compliance with SIS Act & regulation includes:

  • Prepare fund's comprehensive annual report, including operating statement, statement of financial position and notes to financial statements.
  • Prepare member statement, which includes calculation of tax components, member contribution, employer contribution, calculation of pension payment (Please see SMSF Accessing Benefits) and PAYG withholding on the pension payment.
  • Prepare annual minutes, including minutes for employer contribution, member contribution and appointment of auditor/tax agent.
  • Help in drafting and complying investment strategy.
Taxation services

As it is statutory requirement, the trustees have to lodge income tax, regulatory return and the relevant statement (financial statement) with Australian Taxation Office (ATO) every year. As registered tax agent, we will do all for you. Our taxation service includes:

  • Tax planning: we implement various strategies to minimise your tax liability and increase co-contribution from ATO (Please see SMSF Contribution).
  • Prepare and lodge end of the year income tax return, calculation of tax liability or tax refund for the year ended.
  • Prepare and lodge regulatory return.
  • Prepare and lodge fund's quarterly BAS and PAYG returns.
Audit services

It is compulsory for trustees of SMSF under SIS Act to get their fund audited from an approved auditor. As an approved auditor, we perform the SMSF audit, which includes both financial, and compliance audit of the SMSF. Financial audit is the audit of SMSF's accounts and under compliance audit, an auditor has to check whether the SMSF has complied with all the sections, acts and regulations of SIS.

Please note we provide advice, which contains factual information and/or recommendations with regard to maintaining fund compliance. SRC Consulting Group is not licensed to provide financial product advice under the Corporations ACT 2001.

For more information and your confidential discussion book your appointment by email or telephone.