Self-Managed Super Funds (SMSFs)

Annual compliance service

All SMSF trustees are required to have financial statements prepared and lodge income tax return with Australian Taxation Office. The trustee must ensure the SMSF is audited each year by an approved auditor. The audit covers both financial statements and compliance audit.

Reliance Accounting can provide you with all of the above services which includes the compilation of a full set of financial statements, preparing the income tax & regulatory return, other relevant statements and audit of SMSF through an approved external auditor.

Using our services, you can be assured the highest level of quality service. The team at Reliance Accounting are qualified accountants with knowledge, expertise and experience in Self-Managed Superfunds and manage over 50 funds each year.

Reliance Accounting has in place internal procedures to ensure quality service is delivered to the clients at all time.

Here is what we do:

• Prepare of annual financial statements, including operating statement, statement of financial position, notes to financial statements

• Prepare and lodge the fund’s income tax return, calculate and advise of tax liability or tax refund due

• Audit of the SMSF by an approved external auditor

• Prepare member benefits statement, which contains member’s tax components and closing balances

• Provide you with detailed investments reports, such as investments movement report, and year-end market valuation report

• Facilitate obtaining of an actuarial certificate where required

• Manage communications and correspondence with Australian Taxation Office on behalf of the client

Annual Compliance Service process

Below is the procedure through which you can get your SMSF year end accounts done

• Forward us investments and other documents for the fund

• We prepare financial statements and tax return

• We will send it for audit

• Once audited by our approved auditor, sent it to you for signature along with auditor letters

• You review and sign; and return to us signed copy

• We lodge necessary returns with ATO