Episode 08 - SMSF annual accounts

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Phil's SMSF Podcast

Philip Tadros

15 episodes

2 days ago

Thinking about setting up and operating a Self-Managed Superannuation Fund (SMSF)? These podcast episodes will guide you through the process of establishing, operating, maintaining and winding-up a SMSF. However, this is not to be substituted for financial advise, so please see your financial adviser and assess if this is the way for you to proceed.

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How To

Education

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Episode 08 - SMSF annual accounts

Phil's SMSF Podcast

20 minutes 58 seconds

4 years ago

Episode 08 - SMSF annual accounts

This episode discusses what records and documents need to be kept, maintained and sent to the accountant to prepare the annual reports. This episode comes with a kindly warning and reminder to not use the SMSF funds to pay business obligations or for your personal use, as this will breach the SIS provisions and may lead to the SMSF o be non-complying, meaning that the SMSF will be taxed at 45%.

The audit report is also briefly discussed, so the auditor will need to sight the documents and records of the SMSF.

Please note this is not a substitute for financial advice of any type or nature, it is purely educational. For more specific advice feel free to contact me on email: philip@macorp.com.au and I am happy to make an appointment with you.