When establishing and running an SMSF, it’s important that your financial records and paperwork strictly comply with the rules and laws that are central to the successful and legal operation of a self managed super fund. For most fund members and holders, the safest option is finding self managed super fund accountants who provide SMSF accounting services for fund holders who want to ensure they remain above board within the eyes of the law. At iCare Super, we have SMSF accountants in Melbourne who can assist with a range of SMSF services.
To ensure that your SMSF adheres to all the rules and regulations set by the Australian Securities and Investments Commission (ASIC), our SMSF accountants in Melbourne provide the following accounting services, including:
Your SMSF accountant will record all your SMSF property investment and historic investment transactions in our system and save your time to keep your own asset register.
We will take care of your annual or quarterly Business Activity Statements for your SMSF.
As the tax agent for your SMSF, we will prepare the tax return for your SMSF and send it to you for review and confirmation. As part of our SMSF accounting service, we will then lodge it electronically to the ATO.
We prepare all the required minutes, trustee resolution and declaration for your SMSF. All these documents will be forwarded to you to sign and then returned to us for filing.
All reports are prepared using our advanced SMSF accounting system and meet all reporting standards. The annual reports will be reviewed by our directors before we send them to you and the auditors.
As you would go into any professional relationship with a financial service provider, you need to feel 100% trust and confidence in how they can help you. Here are some important tips to guide you towards finding the right SMSF accountants in Melbourne.
Aside from helping with taxation queries, both basic and simple, self managed super fund accountants can assist with your Business Action Statement (BAS), and as long as they have AFS licensing, they can also assist you with investment issues (including your Self Managed Super Fund). To check whether or not an accountant is suitably accredited, you can check on the ASIC website.
Most likely you will have to make a choice whether you need a chartered accountant, a standard accountant or a Certified Practising Accountant. A chartered accountant is best equipped to assist with the diverse range of needs someone with an SMSF is likely to have.
When you make your first appointment with self managed super fund accountants, ask them these questions:
SMSF accountants must be registered if they are to be submitting tax returns on your behalf. They must also be an Australian Financial Services (AFS) license holder if they are to offer investment advice as part of their SMSF accounting services. Always find out beforehand whether or not your account is being taken care of by sufficiently licensed accountants.
You should also find out whether or not they’re members of any professional organisations such as the Institute of Chartered Accountants in Australia or the Certified Practicing Accountants Australia. Official organisations like this require the business to maintain strict standards in order to retain their membership.
Once you’ve found SMSF accountants in Melbourne that can accommodate your SMSF accounting needs, you can be sure your SMSF is in safe hands. Get in touch with iCare Super today to find out how we can help you by calling (03) 9557 4079 or contacting us online
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