top of page
Untitled design (7)_edited.jpg

Outsourcing Your SMSF Administration

As an Accountant or Financial Adviser, you have a couple of options when it comes to managing the annual compliance for clients with Self Managed Super Funds. You can either do it all in house and employ and train your Accountants to confidently prepare the SMSF Financial Statements and Annual return, as well as be able to answer complex questions from your clients. Or you can partner with a specialist SMSF Administration business and outsource all or part of your SMSF administration.

​

What is involved each year?

​

Annually, there are a number of workflows and tasks that need to be performed for an SMSF.  Whilst the outputs of these workflows might be similar to what you to do for your business clients, some of the tasks are unique to SMSFs and require specialist know how. Each year you may be required to do the following for each SMSF:

​

  • SMSF Financial Statements

  • Coordination of audit by independent SMSF Auditor

  • SMSF Annual Return

  • Annual BAS

  • SMSF Member Benefits Statements

  • Pension Calculations

  • Prepare Workpaper File

  • Annual ASIC return for Corporate or Custodian Trustees

  • Maintaining Investment Registers

  • Reviewing SMSF Documents

​

Benefits of outsourcing your SMSF Administration

​

By engaging the services of an SMSF administration firm, you free up valuable time otherwise spent on navigating compliance-related administrative tasks. This outsourcing not only reduces the risk of non-compliance with SIS but gives you the opportunity to concentrate on just managing the client relationship.

​

You will also be free from HR headaches. Experienced SMSF Accountants are hard to come by and most new Accountants see SMSF Accounting as a specialist area so may not be interested in heading down that path.

​

There should be cost saving in outsourcing your SMSF as well. A quality SMSF administrator will provide you with a simple and easy to comprehend pricing schedule so you will easily be able to determine if a partnership will leave you with the best outcome financially.

​

Keep It Simple Super is one of Australia's best SMSF Administrators. To find out about Keep It Simple Super’s SMSF Administration services, click here

​

​

bottom of page