SMSF accounting without the unnecessary complexity
With specialist experience in SMSF accounting and compliance, we use BGL Simple Fund 360 and automation technology to streamline the annual process, reduce unnecessary manual work and keep your fund records organised and up to date.
Clear explanations, practical support and a straightforward annual process.
Based in Hatton Vale, servicing the Lockyer Valley and SMSF clients throughout Queensland.
What we help with
Whether your fund holds cash, shares, managed investments or property, we look after the accounting and tax work and help keep the annual compliance process organised.
Annual accounts & tax
- SMSF financial statements
- SMSF Annual Return
- Member balances
- Contributions and pensions
- Capital gains and investment income
Audit & compliance support
- Audit-ready workpapers
- Independent auditor liaison
- Missing information follow-up
- Property and investment records
- Valuation support where required
Setup, changes & problem solving
- New SMSF establishment support
- Changing accountants
- Bringing overdue funds up to date
- SMSF property accounting
- Untangling mistakes and compliance issues
- Final accounts and wind-ups
Your SMSF may need more than one type of adviser
There is some overlap, but each professional has a different role. We work with your other advisers where needed so each part of the SMSF is handled by the right professional.
Accounting, tax and annual compliance
- Annual financial statements
- SMSF tax return
- Tax planning before 30 June
- Capital gains calculations
- Contribution and pension reporting
- Audit file preparation
- Accounting for SMSF property and investments
Personal financial and investment advice
- Whether an SMSF is suitable for you
- Investment recommendations
- Retirement and pension strategy
- Contribution strategy
- Insurance and broader financial planning
- Advice requiring an Australian Financial Services licence
Legal documents and legal advice
- Trust deed and legal drafting
- Property contracts
- Borrowing and LRBA legal documents
- Estate planning and death-benefit issues
- Legal interpretation and disputes
- More complex trustee or ownership changes
And the trustees?
The trustees remain responsible for the operation of the SMSF. Your advisers help with their areas of expertise, but the trustee responsibility stays with you.
A simple annual SMSF process
Tax planning
Before 30 June, we review relevant tax issues and any actions that need to occur before year-end.
Year-end records
We gather the bank, investment, property and member information needed to prepare the fund.
Accounts & tax
We prepare the financial statements, workpapers and SMSF Annual Return and identify anything that needs attention.
Independent audit
We prepare the audit file and liaise with the approved independent SMSF auditor.
Finalise & lodge
Once the audit is complete, we finalise and lodge the return and carry forward any issues for the next year.
Does your business run from a property owned by your SMSF?
Many trustees use their SMSF to hold the commercial premises their own business operates from. It's a common, legitimate strategy — but it only holds up if it's run correctly, every year, not just at set-up.
We help make sure the arrangement is on solid ground: rent charged at a genuine market rate, a proper commercial lease in place between the fund and the business, and current valuations to support both the rent and the property's value in the fund's accounts.
Keeping pension payments on track
Once a member starts drawing a pension from the fund, the minimum (and sometimes maximum) payment rules need to be met every year — and the paperwork needs to be right.
We monitor pension payments against the required minimums, keep an eye on the transfer balance cap, help prepare the pension documentation and make sure everything is reflected correctly in the fund's accounts and annual return.
Wherever your SMSF is up to
Changing SMSF accountants?
We can review your existing records, obtain the prior-year information we need and take over the ongoing accounting and tax work.
You do not need to have everything perfectly organised before contacting us.
Setting up a new SMSF?
If you have decided to establish an SMSF, we can assist with the accounting, tax, registration and administrative steps and work with your financial adviser and lawyer where needed.
Behind on your SMSF?
If annual accounts or returns are overdue, start with the records you have. We can identify what is missing and work through what is required to bring the fund up to date.
SMSF questions
What does an SMSF accountant do?
We prepare the fund's annual accounts and SMSF Annual Return, deal with the accounting and tax treatment of transactions, prepare the audit file and help coordinate the annual compliance process.
Does my SMSF need an audit every year?
SMSFs generally require an annual independent audit by an approved SMSF auditor before the annual return is lodged. We prepare the accounting records and supporting audit file.
Can I change SMSF accountants?
Yes. We can obtain and review the prior records and take over the ongoing annual accounting and tax work.
Can an SMSF own property?
Yes, subject to the superannuation rules that apply to the type of property, related parties, use of the asset and any borrowing arrangement. Complex property transactions should be reviewed before contracts are signed.
Property, investments and CGT
Important information: Lockyer Accounting & Tax provides accounting and taxation services. Information on this page is general in nature and does not take into account your personal objectives, financial situation or needs. Personal recommendations about establishing or exiting an SMSF or acquiring or disposing of financial products may require an appropriately licensed financial adviser. Legal advice and legal document preparation may require a solicitor. Where needed, we can work alongside your other professional advisers.
Get in Touch
07 5317 6040
3/2 Summerholm Rd, Hatton Vale
PO Box 396, Gatton QLD 4343
Mon to Fri - 8am to 4pm
Saturday appointments available on request