Annual Administration Solutions

Where SATO SMSF Administration® is appointed for the annual compliance and reporting requirements of the fund, the service level agreement would consist of all of the following transactions (where applicable). Under this arrangement, trustees are responsible for the collation of all relevant documentation pertaining to the fund and filed in accordance with the subdivider folder suggested. It is recommended that trustees forward a photocopy of the source documentation, and retain the originals for their records. Our company will then proceed with the preparation of the financial statements, fund tax returns and regulatory reporting, after 30 June each financial year. As part of the service, SATO SMSF Administration® will also arrange for the annual audit reports and subsequent management letter for self managed super funds. This will advise of any compliance issues relating to the operation of the fund.

All fund data and documentation relating to self managed super funds after 30th June would include:

Transaction processing of the fund bank account;
ETP rollover statements;
Dividends income;
Dividend Reinvestment Plans (DRPs);
Managed funds distribution;
Interest income;
Rental income;
Corporate Actions;
Maintenance of trustee and member records;
Employer & employee contributions made;
Pensions withdrawal calculation & taxation imputation;
Reporting to ASIC for corporate trustees;
PAYG payment summaries;
PAYG payment statement;
Financial statements;
Statement of financial positions
Statements of financial performance
Statement of cash flow
Fund tax returns and regulatory reporting
Organizing the annual audit report; &
Audit management letter.

The annual administration platform is recommended for funds with the following attributes:

less than 16 investments heldLarge singular assets e.g. residential or commercial properties
tax planning is not a priorityContribution cap limit monitoring is not a priority
Investments intended to be held for medium to long termRebalancing of portfolio is not a priority
A set and forget investment strategyMembers of fund are relatively young
Funds  invested in predominately investment properties Unsegregated funds
 Funds not invested in managed funds Funds receiving minimal distributions from managed funds

Our superannuation specialist will be in communication with your office leading up to 30th June, for all your annual administrative requirements.

 

 

Copyright© SATO SMSF Administration
By accessing and viewing www.satosmsfadministration.com.au you agree to
Be bound by the Terms of Services of this website
Liability limited by a scheme approved under Professional Standards Legislation