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SMSF: Compliance

In the event that a Trustee allows a SMSF to become non-compliant, that ATO can levy a tax of 45% of the entire balance of your fund.

In order to remain fully compliant, SMSF Trustees must ensure, among other things, that each year the fund: 

- Prepares annual Financial Accounts and Regulatory Returns and lodges 
  these with the Tax Office
- Prepares an Investment Strategy and associated minutes
- Prepares other relevant minutes and documentation, and
- Ensures that the fund is Audited by a registered Auditor.


At Mark Kenmir & Co., we can ensure that you have all of the tools available to you to ensure that your fund remains compliant, allowing you to enjoy your retirement.



 

SMSF Info: