A self-managed super fund gives trustees real control, and a clear set of responsibilities that come back around every year. Staying organised keeps the fund compliant and the annual process painless. This is general information about running a fund, not personal advice.
Keep clean records all year
Good administration is easier when it is continuous rather than a scramble at year end.
- Minute the fund's decisions and keep them on file
- Retain receipts, statements and contribution records
- Keep member details and balances up to date
The annual compliance cycle
Every fund goes through the same yearly steps. Knowing them in advance takes the stress out of the process.
- Have the fund independently audited each year
- Lodge the fund's annual return on time
- Value the fund's assets at market value for reporting
Watch the caps and the deadlines
Contribution caps and lodgement dates change from time to time, and getting them wrong can be costly. It pays to check where things stand before acting.
If you would like a hand keeping your fund's administration and compliance in order, we work with trustees through the full annual cycle. Get in touch and we will make it straightforward.