Preparation of fund income tax and regulatory return

Gateway Financial Partners' expertise in developing personalised tax strategies and our commitment to hands-on customer service ensures that your tax time runs smoothly and your tax liability is minimised.

Gateway's process makes tax time easy for SMSFs

For self managed superannuation fund (SMSF) members, we have developed a process that makes the preparation of your fund income tax and regulatory return straightforward.

Gateway Financial Partners practices real management accounting. This means that to optimise your superannuation performance and portfolio income we can meet with you regularly throughout each financial year to help ensure:

• you are prepared for your annual SMSF tax return – no more last-minute document preparation, and no more last-minute stress
• we are better able to advise you on complying with the ATO's SMSF rules.

The annual audit

The ATO monitors compliance by requiring an annual audit. The audit must be undertaken by an approved auditor who is independent from whoever prepares the fund's financial statements and regulatory returns.

The importance of compliance The cost of non-compliance can be very significant for a fund and the ATO can impose severe penalties ranging from having to pay higher tax to closure of the fund or even prosecution involving incarceration.

How Gateway can help

Gateway Financial Partners has a separate audit department which means we can manage all aspects of your SMSF tax return and SIS audit to ensure your fund returns comply with all relevant regulations.

For professional advice on preparing your fund income tax and regulatory return, call Gateway Financial Partners on 3226 1800 or complete our contact form.

Definitions

1. Fund income tax
2. Regulatory return
3. Tax strategies
4. Superannuation performance
5. Regulatory returns
6. Portfolio income
7. Fund returns