Self Managed Super fund Tax Return Checklist - Prowealth

Self Managed Super fund
Tax Return Checklist
It’s time to lodge your SMSF tax return.
At the end of each year your Self Managed Superannuation Fund (‘SMSF’) must:
1. Prepare a set of financial statements.
2. Have the financial statements audited by an approved SMSF auditor.
3. Prepare an income tax and SIS compliance annual return and lodge this with the Australian Tax Office.
In order for us to arrange preparation of your fund’s financial statements and annual return as well as organise for one of
our approved auditors to audit your fund, we require you to collate the details in this checklist.
If you are not sure of whether a particular income or deduction amount needs to be included, please provide details and
we will review it for you.
Once you have completed the checklist and have all items together you can send to checklist and documents to us by -
a. Post to PO BOX 996, Gosford NSW 2250, or
b. Drop off all items to our Gosford, East Maitland or Paddington Offices during business hours.
One of our client managers will then call you to advise of commencement of your return and can answer any questions
you may have. Our service standard is between 14 and 21 days upon receipt of all information.
If you have any queries, please call us on 1800 13 22 64.
Your SMSF Details
Super Fund Name
Address
Suburb State Postcode
Trustee Name (may be a Company Name)
Primary Contact Person Name
Primary contact phone number
Email Address
Signatures of each director / trustee are required for processing.
Name Signed Date
/ /
Name Signed Date
/ /
Name Signed Date
/ /
Name Signed Date
/ /

Enter the names and details of the fund members below.
Member Name Tax File No. Date of Birth
#Non-Concessional
(After Tax) Contributions
between 1 July 2011 and
30 June 2012.
*9% Employer, Salary
Sacrifice and Self
Employed Contributions
(Pre- Tax) between 1 July
2011 and 30 June 2012.
*You may need to refer to your Group Certificate or Payment Summaries to establish the amount paid into your fund. You could also check the SMSF’s bank
statement for contributions. *Non-concessional contributions are voluntary contributions made to the Fund where you have not claimed a tax deduction.

Superannuation Industry Supervision Act & Regulations compliance Y N
Did your fund loan or lease any Fund assets to a related party?
Did your Fund invest in entities related to you?
Did your Fund acquire any assets from a related party of the Fund?
Did the Fund receive in-specie contributions during the year?
i.e. contributions of shares or other assets rather than cash.
Has the Fund kept its assets separate from member’s assets during the year?
Did the Fund borrow during the year, other than via an instalment warrant?
Has a member had personal use of a Fund’s assets before retirement?
Did the Fund give members any money while they are not in pension mode?
Were the Trustees remunerated for their services as Trustee?
Have any of the Trustees or Directors of Trustee company been disqualified during
the year? e.g. entered bankruptcy
Are all Fund assets documented as owned by the Fund?
Has the SMSF carried on a business of selling goods or services?
Did any of the Trustee’s become a Non-resident of Australia during the year?

INVESTMENTS Y N Details
If Property -
Provide the Settlement Statement for the purchase
(from your lawyer).
If Shares -
Provide a summary of any additional shares /
managed funds owned at 30 June.
Provide Copies of any Off Market Transfer forms.
Has the Fund purchased any new
investments during the year?
Details of any Dividend Reinvestments, Share Buy
Backs, Bonus Shares, Rights Issues, IPO’s, Share
Purchase Plans, Mergers etc.
If the funds investment provider has issued annual
portfolio summaries, please send us copies. (If
you have a Commsec or similar account you can
print a portfolio statement as at 30 June. from their
website).
Other -
Please provide details of Other Assets purchased
and sold during the period 1 July 2011 to 30 June
2012.
Please provide all Bank Statements for the year.
Bank Statements
This may include -
Macquarie Cash Management Account
Super Fund Loan Account
Super Fund Loan Offset Account
General SMSF Bank Accounts
(not all accounts are applicable to all funds)
If you cannot locate you statement, log onto internet
banking for the bank and print down a statement for
the period of 1 July 2011 to 30 June 2012.
In order to accurately process the transactions,
we you must include a brief description next to
each transaction. e.g. rent received, contribution
member #1, etc
Prior Year Documents
Please provide a copy of the following documents
for the prior year of the Fund:
• Financial statements
• Fund Annual Return
• Audit Report

INCOME Y N Details
Did the fund derive any capital gains or losses on
assets sold during the financial year?
Capital Gains / Losses
If Property -
Provide a description of the asset,
The original purchase date,
The purchase cost,
The date and amount of any expenditure incurred
by the fund that forms part of the asset’s cost base
(such as stamp duty, legal fees, some renovations
or improvements etc).
Enclose a copy of your original purchase Settlement
Statement (from your lawyer)
Enclose a copy of this sale’s Settlement Statement
(from your lawyer)
Enclose a copy of the Real Estate Agents Tax
Invoice.
If Shares
Provide the buy and sell contracts.
Did the fund derive any rental, leasing or hiring
income?
Rent, Leasing & Hiring Income
Interest Received
Please complete the Investment Property
Checklist at the end.
Provide also provide details of any expenses or
capital works expenditure to the rental property that
is not shown on the Property Managers statement.
Has/is all interest income received during the
financial year from investments been included on
the bank statements?
Did the fund receive any dividends during the
financial year?
If so provide all dividend statements.
Dividends / Distributions
Gross Foreign Income
Unfranked, partly franked and fully franked dividends
are assessable for taxation purposes.
Tax tip – Where a reinvestment program has been
entered into the value of that dividend reinvestment
is taxable.
Did the fund have any income in relation to foreign
investment funds?
Provide any foreign income statements in relation to
foreign investment funds.

INCOME Y N Details
Has there been any amounts transferred from
another superannuation fund for a member of this
fund?
Contributions
Partnerships and Trusts
Other Income
If so please supply the ETP rollover statement
(supplied by the outgoing fund)
If you are Self Employed
Where the fund receives contributions from selfemployed
members, provide written notice from
a member under section 290-170, stating the
member’s intention to claim a deduction for their
contributions.
Has the fund received any income from partnerships
or Trusts?
Provide details of the partnership, trust or a
managed investment trust fund payment and type of
income received. Provide the annual taxation report
if applicable.
Has the Fund derived any other income (other than
private company dividends or trust distributions) as
a result of a non-arms length transaction where the
income derived (e.g. rent and interest) is more than
might reasonably be expected had the parties been
dealing with each other at arms length?
If so please provide details.
PAYG Installments
Has the fund paid any PAYG instalments during the
year? If so please provide copies of the IAS’s

DEDUCTIONS Y N Details
Is the fund claiming a deduction for interest
expenses - for example on the investment property
loan?
If so please supply details such as the bank
statements named above.
Interest
Did the Fund borrow during the year, other than for
the investment property? YES/ NO
If yes, please supply details such as the loan
agreements and statements.
Capital Works Deductions
Has the fund incurred any capital works during the
year?
If so please supply details.
Does the fund have a ‘whole of life’ policy for death
and disability cover?
Death and Disability Premiums
Does the fund have an endowment policy for death
and disability cover?
Does the fund have other policies that provide death
or disability superannuation benefits?
If the fund has any of the above please provide
policies and renewal notices.
Has the fund incurred any investment expenses?
Investment Expenses
Management and Administration
Expenses
Other Deductions
Such as investment advice fees, financial planning
fees, tax agent fees, actuarial fees. If so please
provide a copy of the Tax Invoice for the service
incurred.
Has the fund incurred any expenses in relation to
management and administration of superannuation
entities? If so, please supply details.
Has the fund incurred any foreign exchange losses?
If so, please supply details.
Has the fund sold or scrapped a depreciating asset?
If so, please supply details.

PENSIONS Y N Details
Has the fund paid any pensions
during the year?
Please complete the following table and include
any pensions paid during the year.
Member Name
Amount
MISC. Y N
Please provide any other details
which you are unsure of and
would like us to be aware of.
Other Deductions (include details/reason)
Amount

SMSF Audit Checklist - Please enclose the following documents where required. Y N
NOTE - If Prowealth setup your Super Fund and Bare Trust arrangement simply include
your Super Fund Folders with this checklist rather than each item.
Signed copy of the executed Fund Deed (Generally located in Super Fund folder)
Copy of consent to act as Trustee. (Generally located in Super Fund folder)
Copy of application for membership. (Generally located in Super Fund folder)
Copy of Fund’s investment strategy. (Generally located in Super Fund folder)
Minutes of any meetings of the Trustee. (Generally located in Super Fund folder)
Copy of any correspondence from the ATO in relation to irregularities identified by
them.
For installment warrants (loans to purchase the property) -
Copy of Security Deed. (Generally located in Bare Trust folder)
Copy of loan documents. (Generally located in your Prowealth Account keeping Folder)
Auditing standards requires the auditor to make certain enquiries regarding fraud.
Please complete the following:
Have the Trustees assessed the risk of fraud?
Has fraud occurred?
Do the Trustees have controls in place to identify fraud?
A policy of reporting any instances of fraud to all Trustees is in place?
How many trustees must sign a cheque or approve EFTs before they will be
accepted by the bank?
If the Trustee use on-line share trading how many Trustees are required to authorise
a transaction?
Does anyone else have access to the Fund’s bank or trading accounts?

INVESTMENT PROPERTIES Y N Details
Supply Basic Property
Information
Supply your Prowealth Property Handover /
Account Keeping Folder.
Print out or enclose statement showing the
interest amount for each Investment loan.
Statements showing interest
charged on all investment loans.
This is usually available of the loan statement
issued after June 30th.
Also available via internet banking under ‘Account
Information’ or similar. Alternatively you can call
your lender and ask.
Photocopy or enclose the year end statement
from your property manager issued after June
30th.
Annual Property Managers
Statement
PMHQ Property Management
Automatic Data Transfer
This statement shows all the rent and expenses
paid by your agent for the year. Enclose for each
property.
If your property is managed by PMHQ, we can
obtain this data for you if you consent below.
I consent to Prowealth Accounting obtaining
information from PMHQ for my tax return.
Sign ________________________________
Please enclose a copy of your Depreciation
schedule.
Depreciation Schedule
If Prowealth arranged your schedule you do not
need to provide it.
If you do not have one, complete the attached
order form and return with this checklist.
END OF CHECKLIST
DONT FORGET TO ENCLOSE -
Super Fund Setup Folders.
Bare Trust Setup Folders.
Prowealth Account Keeping Folder.

Property Depreciation Schedule Order Form
Property Details
Property Type (circle)
House / Unit / Townhouse / Hi Rise Apartment / Commercial
Address
Suburb State Postcode
Have you altered the property or added any additional items since purchase?
(If YES please provide details including the description, cost and date of works on a separate sheet)
(circle)
YES / NO
Have you ever lived in the property?
(If YES please provide details and dates on a separate sheet)
(circle)
YES / NO
Property Purchase / Construction Details - Choose one section only
Land Price
Use this section if you purchased under a
progressive payment building contract.
Use this section if you purchased under a
single contract for the purchase.
Purchase Price
Building Contract Price
Settlement Date
Building Completion Date
Age of Property (approx)
Builders Name
Approx Land Value at purchase (if known)
Applicant Details
Your full name or if purchased by your Super Fund, the Super Fund’s Name
Payment - Tick which service you require.
Your Schedule cannot be ordered until payment is made. Please tick which service you require below.
Please direct deposit the fee for the service you require to our bank account (details below).
If Property was purchased from Prowealth.
No inspection required as plans and specs are supplied by Prowealth.
Or If physical property inspection required (non Prowealth purchase)
Price for metro and major regional centres only.
$395 per
property
$725 per
property
Tick
Tick
Account Name
Prowealth Accounting
Services Pty Ltd
Reference No
DS(your surname)
Account BSB 062544 Account Number 10685540
When form has been completed please return to Prowealth via -
Email - info@prowealth.com.au
Fax - 02 43 222 247
Post - PO BOX 996, Gosford NSW 2250
Approx turnaround is 10 working days after payment is received.
Office Use Only
Referee - Prowealth
Investments
Reports to be emailed to
info@prowealth.com.au