Ongoing Administration - How It Works
Throughout the financial year, Freeman Fox records details of all capital inflows, investments, share or options trades, purchases, sales, distributions and other transactions. This information is used to prepare returns, statements and lodgements at the end of the financial year.
- Annual Financial Statements
The Financial Statements are prepared annually. This includes the Operating Statement, Statement of Cash Flows and Statement of Financial Position. A copy is always kept on file at Freeman Fox. You’ll receive a bound set of documents for your records.
- Annual Member Benefit Statement
The Member Benefit Statement forms part of the Financial Statements and is prepared for all funds that paid benefits to a member during the year.
- Annual Tax Return Preparation and Lodgement
Freeman Fox prepares the tax return and can even lodge the return for you with the ATO.
- Legislated Independent Audit
Your Annual Tax Returns are required by legislation to be audited by an approved Independent Auditor prior to lodging the tax return. You may use an auditor of your choice, or Freeman Fox can facilitate that for you.
- SMSF Trust Deed Review
Every few years it is advisable to have your SMSF trust deed reviewed by a specialist solicitor to ensure that your Fund is always up to date with current legislation – for example major changes came into effect on 1 July 2006 that affect most SMSF trust deeds. We will advise you when we feel prudent to review your trust deed.
Want to explore Freeman Fox SMSF Services?
If you want to take back control of your super fund and pay less in fees, then make an enquiry today. Just fill in the form below and one of our Freeman Fox Self Managed Super Fund team members will call and email to connect with you promptly.
