Year end Requirements

SMSF Year End Requirements

The financial year for an SMSF is the same as for individuals, i.e. 30 June. We will prepare the SMSF annual compliance functions.

You need to send us your documents:

As the Trustee responsible for the Fund, you need to supply us with the information to prepare the financial accounts and tax return. Please email all supporting documents to us. For each type of investments, send us the balances at 30 June and transactions for the year. This is explained below:

  • Bank Accounts

    1. Excel or CSV download of your bank account for the year, noting transaction types;

    2. Bank statement at 30 June showing the name of the Fund and the balance of the bank account for each bank account

  • Roll-overs into the Fund, send us a statement

    For contributions into the Fund, note which Member this relates to.

    For rollovers from other funds into the SMSF, please send a copy of the Benefit Rollover Statement setting out the tax components of the rollover.

  • Share Trading accounts

    Send us a broker statement, showing the SMSF’s name as the owner of the shares. For share ownership, please send us a tax summary from your broker on dividends received.

  • Property

    For property investment, you will receive a summary from the real estate agent showing rentals received, the real estate agent fees and expenses for repairs and maintenance. Property title search for each property owned by the Fund.

  • Remember to send us copies of all your permanent documents, if you have not done so.

From the 2015 financial year onwards, we will need Trustee to complete an Accounting Checklist when preparing supporting documents for annual return. Please ensure that this Checklist must be sent together with all supporting documents before we can start the accounting process for your Fund. Please click here for our Checklist.

Year-end Checklist

From 1 July 2021, if your pension balance is over $1.7 million, you will need to make a request to convert part or all of your pension accounts into accumulation phase to ensure that your total pension balance does not exceed the cap. From 1 July 2023, the cap will increase to $1.9 million. You can download the minute template here to instruct us below:

Pension Balance Minutes

If your pension balance is over $1.7 million (or $1.9 million from 1 July 2023 onwards), we will automatically reset the asset cost base in a most tax effective manner to take advantage of the CGT relief.

When do We Need This?

The ATO is the regulator of SMSF’s and the annual return is due to the ATO on either 28 Feb for new funds (8 months after the year end) or 15 May for the 2nd and subsequent years (this is 10.5 months).

Please try and send all files in Excel or CSV format. This will save us processing time. Where there is excessive data entry (also referred to as a shoe-box audit) we will have to charge an account entering and processing fee. You can use a system to enter all the data yourself. See this UNIP Portfolio Management system to enter data. We do have read-only access to this system as your accountant to prepare financial accounts and a tax return from this data.

Please email these documents over to our email address: or documents can be mailed to our postal address.

Please forward all documents you have on your Fund. If there are any queries or missing documents, we will be in contact with you.

Complete Information

In order for us to carry out your SMSF accounting efficiently, it is important that the information you send us is complete and accurate. If we have to ask for information after the accountants have started processing your SMSF, there may be an additional charge.

Our preference is to have Trustees complete and sign the year-end checklist to ensure that Trustees understand their responsibilities for reliable, accurate and complete accounting records supplied to us. If the year-end checklist is not provided to us, we will work on the assumption information supplied to us is complete and accurate.

As part of Trustee’s obligations, there is a requirement to keep invoices and source documents for a minimum of 5 years.

Insurance Consideration

From 2013, Trustees are required to consider life insurance as part of their SMSF investment strategy. For more information about taking out an insurance policy, visit our insurance page.

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