ACCOUNTING SYSTEMS & COMPLIANCE
The SIS Act states that one of your responsibilities as trustee SMSF is to keep proper and accurate tax and accounting records to manage your fund efficiently.
Such records must also be audited annually by an independent auditor, so they need to be in the proper format.
At Super Initiatives we take care of the accounting and tax compliance burden for you, leaving you free to concentrate on maximising your SMSF returns.
We do this using leading internet cloud-based software that;
- Gets live bank feeds of all your transactions
- Regularly updates your share values
- Tracks your contributions and pension withdrawals to ensure you don’t exceed your limits
- Provides an audit trail for your auditor
- Tracks each members balance
- Assists to calculate tax liability
- Provides all necessary compliance documents including minutes and declarations
Because we take the compliance burden off them, our clients enjoy being able to log into their superfund account online and monitor how its all going in real time.