SMSF Year-end Requirements

With the 2020 financial year now behind us, there is no better time to get your self-managed super fund into the best shape possible. To assist you, we have created an ultimate preparation checklist.

 

 YesNoN/A
Has your Trust Deed been recently reviewed, and does it reflect the current regulations?   
Are your death benefit nominations still current and still appropriate for your circumstances   
Does your current Investment Strategy reflect your funds current objectives?   
Have you reviewed your concessional and non-concessional contribution options?   
If you are drawing an income from your pension in the 2020/2021 have you calculated your new halved minimum pension drawdown rates?   
If you have satisfied the eligibility criteria to access your super due to Covid-19 you can make the request via MyGov by 24th of September 2020   

 

Year-end Check List

 

 Bank Accounts  Yes No N/A
 Bank statements from 1 July 2019 to 30 June 2020   
 Share Trading Accounts   
 Broker Statements as at 30 June 2020   
 Roll-over    
 A rollover statement if a transfer of funds occurred from another super fund during the 2019/2020 financial year   
 Managed Investments    
 Annual Tax and Distribution statements as at 30 June 2020   
 Financial Year Summary from 1 July 2019 to 30 June 2020   
 Term deposits   
 Renewal notices   
 Interest statements   
 Property – current year    
 Tax invoices and payment expenses   
 Insurance Policy   
 Rental Statements   
 Property Valuation   
 Signed Lease Agreement   
 Property – new purchase   
 Purchase documentation   
 Loan Agreement   
 Property settlement statement   
 Certificate of title   
 Lease Agreement   
 Property Insurance policy   
 Fixed Interest Securities    
 Statement confirming the ownership and the value as at 30 June 2020   
 Purchase and sale contracts   
 Unlisted Trusts and Companies - related   
 Financial statements and income tax return   
 Valuation by trustees   
 Unlisted Trusts and Companies - unrelated   
 Distribution and dividend statements   
 Valuation by trust/company or trustees   
 Collectibles    
 Purchase and sale contracts   
 Valuation   
 Details of where the asset is held   
 Insurance policy statement   
 Crypto Currency   
 Holding summary statement as at 30 June 2020   
 Life Insurance    
 Insurance Policy Statement   
 Other Investments    
 Sale contracts of invoices   
 Valuation statements   

 

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ABN 29 619 696 552

 

Suite 2.5 Office Tower

69 Central Coast Hwy

West Gosford NSW 2250

 

PO Box 1005

WOY WOY NSW 2256

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