Do You Really Need An SMSF Accountant To Prepare And Lodge SMSF Tax Return?


SMSF Tax Return Services Melbourne



Maybe it depends as each SMSF has different investments so some trustees may be able to do it by themselves for a simple fund. But if the SMSF is complex, help from an SMSF professional can be considered. For a straightforward SMSF with few investments, trustees might find it easy to prepare and lodge tax return themselves.

On the other hand, SMSF accountants like Quick SMSF Accountants nowadays use advanced platforms and software which are specially designed to prepare SMSF accounts and tax return and with the help of this modern technology they can do the task for you with ease. As the sector grows at a fast pace with the number of new SMSF set ups increasing, expert knowledge and technology is in demand in this sector. There are options of cloud-based software to do the job in a secure environment and documents can be saved in these platforms as well.

Normally Accountants take the paperwork from you and prepare the accounts and tax return based on the information provided for the past year. A proactive SMSF accountant does more than this traditional task and during the year answers your accounting queries if required.

Also, the SMSF tax return due date is different if trustees lodge themselves or if they lodge through a tax agent. Tax return lodged through a tax agent are variable. They will tell you the due date. SMSF tax return is lodged after the SMSF audit is done as every SMSF must be audited by an independent SMSF auditor every year before the lodgment.

Top benefits of SMSF accountant to prepare SMSF tax return are as below:

– Saves time – DIY may seem appealing as it saves cost but due to the lack of DIY tax tools for SMSFs the best option is to appoint an SMSF tax agent to get the best results.

– Lodgment deadline extension – registered tax agents get lodgment extension for the lodgment of the tax return. As an example, if you lodge a tax return yourself, the existing SMSF lodgment date is 28 Feb but with the tax agent it’s 15 May. You can check with your tax agent regarding the due date as it might be different.

– Complexity – The Australian tax system is complex and a lot of study and experience is needed to get the job done professionally. SMSF professionals do regular study in this field and stay up to date with the changes in the Superannuation industry rules and as the new software cloud technology they do software training regularly and have access to tools to get the job done professionally and accurately. For a complicated situation getting professional help can save time, be stress free and save unnecessary fines or payments to ATO.

A professional SMSF accountant will be there for you to help guide clients, answer queries when asked and provide professional SMSF services based upon their knowledge, understanding and experience in this SMSF field.

For more info visit us: https://www.quicksmsfaccountants.com.au/smsf-tax-return-services-melbourne/

Location: 47 Aintree Cl, Clyde VIC 3978, Australia

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