SMSF Tax Return and Accounting Service in Melbourne - Superfund Warehouse

MELBOURNE, Australia - Dec. 2, 2021 - PRLog -- One of the requirements for trustees to have an SMSF is to lodge tax return annually at the Australian Taxation Office (ATO). We provide full range of SMSF tax return and accounting services Melbourne from the establishment of the fund till wind up stage.

SMSF tax return form and what it covers?
If trustees wish to lodge SMSF tax return by themselves using the paper form they can get the Self managed superannuation fund annual return (NAT71226) and lodge it with ATO after the SMSF audit is completed by an approved SMSF auditor as auditor details will be included in the tax return and is required to be audited before lodgement. When filling the tax return trustees need to make sure they fill the form completely with all sections and needs to include SMSF auditor details otherwise ATO will reject the lodgement of the tax return.

Who can lodge SMSF tax return?
Tax return can be lodged by trustees or if they wish they can also arrange tax agent to prepare and lodge the annual return for them. Annual financial accounts, tax return needs to be prepared and then these needs to be audited by an approved SMSF auditor before the lodgement of the tax return with tax office.

Benefits of lodging with the registered tax agent
There are several benefits if the tax return is prepared and lodged by the registered tax agent. Firstly, like Superfund Warehouse we are SMSF professionals preparing and lodging tax returns from more than half a decade and have in depth knowledge of this field.

Steps for lodging SMSF tax return
The main steps of lodging the SMSF tax return are firstly after the year end annual accounts will be prepared and then Superfund tax return. After this independent SMSF auditor will audit the fund and provide with the audit report.

How to lodge SMSF tax return?
Superannuation tax return can be lodged electronically or by using the paper form. Most of the tax returns are lodged electronically (more than 80% of the funds) as most of them are lodged by tax agents and they use their professional SMSF software's to lodge these.

How to Amend SMSF tax return?
If the tax return needs to be amended at the later stage the whole tax return needs to be resubmitted with the tax office not only the columns that needs to be changed.

Lodging the final SMSF tax return
At some stage the SMSF might needs to be wind up. For this all steps related to the wind up of the SMSF needs to be followed and final return needs to be prepared and lodged by answering the wind-up questions on the tax return.

Read more:
https://www.superfundwarehouse.com.au/smsf-tax-returns/