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SMSF Tax Return
We can help prepare and lodge tax returns for:
- Self-Managed Superannuation Funds (SMSF)
… no matter where you are in Australia, or overseas.
If you need to start a SMSF first, go here.
SMSF Financials & Audit
Together with the tax return we will provide the:
- Financial Statements; and
- Documentation,
… so the SMSF meets its regulatory obligations.
Further, we seamlessly arrange the mandatory audit.
Everything is prepared on the basis of satisfying your unique circumstances and
minimising tax as much as legally possible.
Read Key Points & Transcript
SMSF Tax Return
video key points
- Munro’s relieves trustees by handling the preparation of SMSF tax returns, including annual financial statements and necessary audits, ensuring accuracy and simplicity.
- The firm also assists trustees in catching up with overdue tax lodgements, aiming to keep SMSFs on track.
- Working closely with trustees, Munro’s strives to legally minimise tax liabilities, simplifying the complexities of SMSF management.
- Reach out to us for professional guidance on managing your SMSF tax return and navigating its intricacies.
Presented by: Christine Prasetia
video transcript
Let’s delve into a crucial topic for every diligent self-managed superannuation fund (SMSF) trustee: ensuring your SMSF is complaint and you have optimised its tax position.
At Munro’s, we understand the intricacies involved in managing a SMSF. That’s why we’re dedicated to guiding you through every step of the way.
Firstly, we take the responsibility of preparing your SMSF tax return off your shoulders. We gather all necessary source information, meticulously prepare your annual financial statements, and ensure all requisite documentation and the tax return are completed accurately.
It’s essential to recognise that every SMSF must undergo an annual audit. Our approach simplifies this process for you. We manage the audit on your behalf, ensuring it’s both thorough and seamless, sparing you from unnecessary complexity.
Once everything is finalised and all documentation is signed off, we proceed to lodge your annual tax return.
If you’ve fallen behind on previous year tax lodgements, we’re also here to assist – helping you get back on track.
Our primary goal is to work closely with you to ensure that you’re paying the minimal amount of tax legally possible.
If you’re in need of assistance with your SMSF tax return and you’re looking for a professional advisor to help navigate the complexities of SMSF management, we’re here to help
Price
Price depends on your specific situation and is impacted by factors such as complexity of your investment affairs, completeness of data, compilation of data, number of different accounts, wallets and exchanges, types of transactions, number of investments traded, and timeliness of advice and assistance sort.
Our SMSF pricing generally begins at:
- $2,750 incl. GST per annum for modest affairs;
- $6,600 incl. GST per annum for intermediate affairs*; and
- $12,000 incl. GST per annum for complex affairs*.
* Intermediate and complex affairs typically involve exotic investments such as derivatives, cryptocurrency, NFTs, DeFi, collectables and real estate with limited recourse borrowing arrangements.
Ultimately, the price is determined on a case-by-case basis and we can provide a specific quote in due course (after receiving all source information), giving you a clear understanding of the price before proceeding with tax return preparation services.
Information We Need
The following information is what we need to prepare a quote and your tax return:
- Copy of most recently lodged tax return.
- Copy of most recently completed financial statements.
- Bank statements.
- Invoices for all expenditure.
- Investment trading account statements:
- You can usually download an End of Financial Year Report from your broker which shows shares owned at 30 June, and all your purchases and sales throughout the year.
- If you sold shares purchased in a previous financial year, we will also need the prior years’ acquisition transactions.
- Rental property statements and associated expenses.
- Real estate acquisitions and disposals:
- Contract / Offer & Acceptance.
- Final Settlement Statement.
- If cryptocurrency is involved:
- A spreadsheet record of each cryptocurrency you currently own (i.e. the ticker such as BTC, ETH) and the quantity held today (or 30 June if you have an exact record).
- Here is a template.
- It can also be helpful to include a column for the location of the crypto (i.e. wallet/exchange) and the quantity at each location.
- If you have NFTs, then include the description, token ID, location (i.e. wallet/exchange), relevant blockchain (e.g. Ethereum/Solana/Binance Smart Chain) and acquisition transaction hash.
- We also need screenshots of your exchange/wallet after login, showing the crypto, the quantity and the date.
- A list of each exchange and wallet you have used throughout the period.
- Here is a template.
- For each wallet, the record must include all the relevant blockchains (e.g. Ethereum, Binance Smart Chain, Polygon).
- Also, for each exchange/wallet, list the types of transactions which have occurred (e.g. spot trading, futures trading, margin trading, earn/interest accounts, staking, liquidity pools, farming, mining, borrowings, gaming, etc).
- All CSV/Spreadsheet file exports from your exchanges and wallets revealing all your trades, deposits and withdrawals up to today (or 30 June if you have those holding records).
- All read–only API Keys and Secrets for your exchanges.
- If you require assistance with gathering data from your exchanges/wallets, such as instructions for how to get CSV Exports/Setup APIs, then please let us know.
- If there is missing information, please provide as much detail as possible with respect to missing transaction data.
- Such as what transaction details do you know are missing and what cryptocurrency were traded/mined/staked/earnt/sold/lost (coin ticker, approx. date and quantities).
- The more detailed information you provide, the easier it will be to account for missing trade data.
- Records of anything else related to cryptocurrency that we need to know. For example:
-
- Hardware wallet costs.
- Mining/Staking costs.
- Trading subscriptions.
- Trading advice fees.
-
- A spreadsheet record of each cryptocurrency you currently own (i.e. the ticker such as BTC, ETH) and the quantity held today (or 30 June if you have an exact record).
- Other investments:
- Acquisitions and disposals.
- Ownership details as at 30 June for each investment, including evidence to substantiate ownership.
- Valuation for each investment, including evidence to substantiate the value.
- Anything else which we need and should know about your SMSF tax affairs.
You may provide this information by email, or alternatively you can upload to our secure client account facility. If you would like to use the client account facility, then please let us know and we will arrange for a team member to setup your account.
Top 2% ranked Australian Accounting Firm
Don’t just take our word for it. Read more testimonials and see the impact we’ve made.
Read Key Points & Transcript
video key points
- Top 2% ranked Australian Accounting Firm is based on two separate Munro’s assessments of Google reviews for Australian based accounting firms on 9-10 August 2023 and 1 December 2023.
- Both assessments found Munro’s to be in the Top 2% (position 66 out of 4,235 and position 44 out of 4,301 for the assessments, respectively) when a ranking was derived from a comparison of the total of each accounting firm’s overall star rating multiplied by each firm’s quantity of reviews as shown on Google Maps.
- If the assessment was to be conducted today, then it is likely that Munro’s ranking would have changed – Munro’s may or may not be in the Top 2% today.
Presented by: Drew Pflaum
video transcript
In December 2023, we conducted a review of Australian accounting firms on Google Maps, based on star rating and quantity of reviews.
Out of the 4,301 Australian accounting firms we identified on Google, Munro’s ranked number 44, placing us in the Top 2% of Australian Accounting Firms. We’re thrilled to share this fact with you and share those reviews on our website. We’d also like to thank all our clients who left us those wonderful reviews.
Thank you.
Excellent accounting service with a deep understanding of tax implications for SMSFs.
I was very impressed with Munro’s accounting service. Before I engaged with Munro’s, I met with accountants across Australia, but I decided to go with Munro’s because of their breadth and understanding of taxation.
Brian from Munro’s was able to quickly and efficiently complete my 2023 tax returns, and also provided additional advice and expertise on how I could better structure my affairs.
Originally, I briefed Munro’s to wind back my SMSF due to the administrative burden of managing it. However, Munro’s was able to clearly understand my affairs and prepare the tax documentation in a way that reduced the administrative burden. I was so impressed with their service that I decided to continue with the SMSF after all.
I highly recommend Munro’s to anyone looking for an accounting service with a deep understanding of taxation and SMSFs.
Professional, insightful and always supporting. Christine and Munro’s has helped me through all avenue’s and queries regarding investment, tax return, property, super and general finance. Really appreciative of their work and highly recommend!
Tell us about your problem and we’ll respond within 1 business day.
- Call Us 1800 818 924
- Email Us ExperienceSuccess@munros.com.au
-
Visit Us
308 Fitzgerald Street
Perth WA 6000