Your Super Accountant
A CPA Practice Specialising in Self Managed Superannuation
Phone 08 7127 7471 or
Servicing Clients Australia-wide 
Scope of Engagement (including Steps and Responsibilities of the Parties)

Step 1: SMSF Setup / Transfer

You are to:
  • [For Setups] Complete the online application in accordance with the our SMSF Setup web-page.  Note that the payment made in the setup phase is credited against a first year’s SMSF Administration fee at Step 3 below
  • [For transfers] provide prior year financials and cost-base information for all current assets, 
  • provide a signed Engagement Letter confirming agreement to our Terms and Conditions, and
  • [For Premium SMSF Administration,] provide authorisations and assistance to establish (read-only) Linked Investments

We will:
  • provide items listed on our SMSF Setup web-page [SMSF Setup only]
  • advise your previous accountant of the transfer (in line with standard accounting practices, and including a request prior year financials and cost-base information) [Transfer only]
  • enter your details in our software systems, and 
  • establish a Client Portal account for your fund, with logins for each trustee/member OR, for the Premium SMSF Administration, provide a BGL Simple Fund 360 based account.
Step 2: You Operate Your SMSF

You are to:
  • operate your smsf as trustee of your SMSF - establishing bank account(s), roll over existing super funds, making contributions, and/or investing funds, 
  • meet trustee responsibilities such as those outlined in http://www.ato.gov.au/Super/Self-managed-super-funds/ including record keeping to support Step 3 below,
We will:
  • NOT have access to make transactions with your money, 
  • NOT insist that you open a specific bank account, share trading account or other financial product,
  • NOT receive commissions on your investments, and
  • NOT otherwise provide investment advice or place restrictions on the investments, and
  • [for ‘Premium’ SMSF Administration clients,] update online reporting for Linked Investments to the extent of BGL Simple Fund 360’s automation.
Step 3: Year-End Compliance Administration

You are to:
  • Provide a signed copy of our Year-end check-list once all information has been uploaded to our Client Portal and you want us to commence end-of-year SMSF Administration. This helps avoid un-necessary re-work and costs. You are responsible for the reliability, accuracy and completeness of the information and for disclosing all material and relevant information to us.
  • Confirm approval of the end of year reports we provide by uploading signed copies to Portal (and paying our invoice) prior to submission for the end-of-year audit. 
  • Provide any/all information reasonably required by the auditor that we do not already have.
  • After successful completion of your audit, pay the auditors invoice and return signed tax returns for lodgement.
We will:
  • Revalue listed SMSF assets to reflect market prices at year end,
  • Prepare & provide Investment Reports,
  • Prepare & provide Member Reports for each member,
  • Prepare & provide Financial Reports,
  • Arrange for the mandatory annual audit to be performed by an independent auditor,
  • Prepare and lodge an annual income tax return for your SMSF,
  • Cover any associated dealings with the Australian Taxation Office (ATO),
  • Calculate your SMSF’s tax liability / refund, and
  • Provide a credit against your first year’s SMSF Administration fee in accordance terms of a SMSF Setup offer, if applicable.
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