2020-2021 Tax Return Checklist: SMSF

For year ended 30th June 2021

IMPORTANT NOTE – WORKFLOW MANAGEMENT

The lodgement due date of your tax return is between 31st of October 2021 and 15th of May 2022 (depending on your circumstances

Is your tax return required urgently? If yes, please contact your Client Manager (express fees may apply).

Please choose a Chan & Naylor Branch *

We shall endeavour to ensure that the tax return of the Trust/Partnership is lodged with the ATO by the due date, provided ALL relevant information and documentation is received by 15th January 2022.

This will allow us sufficient time for preparing and lodging the tax return. If the relevant information and documentation is not received by the due date, we may not be able to guarantee that the tax return is lodged in time.

Name of Client

First Name *

Middle Name(s)

Last Name *

Name of Trustee

First Name *

Middle Name(s)

Last Name *

Preferred Email Address *

We shall endeavour to ensure that the tax return of the Superannuation Fund is lodged with the ATO by the due date, provided ALL relevant information and documentation is received by 15th January 2022.

This will allow us sufficient time for preparing and lodging the tax return. If the relevant information and documentation is not received by the due date, we may not be able to guarantee that the tax return is lodged in time.

INCOME & EXPENSES:

1. Income & Expenses:

if you maintain your own cloud based accounting software, please contact your client manager to go through the steps to enable appropriate Chan & Naylor access.
if you maintain your own desktop based accounting software please submit a copy of the file via usb or via email to your relevant client manager.
if you pay an ATO GST instalment amount every quarter, we shall prepare the Annual GST Return for you based on the data you provide, unless we are advised otherwise;
if you do not maintain cloud or desktop based accounting software, please forward the following documents to us, if applicable:
a. cashbooks (either manual or in Microsoft excel);
b. bank statements from 1 July 2020 to 30 June 2021;
c. cheque butts;
d. deposit slips;
e. expenses summaries/invoices;
f. loan statements, if applicable;
g. amounts of money that other entities, including the beneficiaries, owe the SMSF at 30 June 2021, if any
H.amounts of money that the SMSF owes other entities ,including the beneficiaries (for trust), in connection with the business as at 30 June 2021, if any
i. PAYG Payment Summaries (group certificates) and annual reconciliation statement, if applicable.

Please note that we need the GST component of each expense so that we can work out the GST input tax credit claimed by the Trust/Partnership.

2. Distribution from other trusts/partnerships:

Do you receive distribution from other trusts/partnerships? *

Yes

No

if you received distribution from another private trust or partnership, please provide a copy of the tax return or distribution statement; (up to 5MB-Please ZIP into single file)

if you have invested in units of a private unit trust, please provide the market value of the units as at 30 June 2021. If you have any problem on this issue, please feel free to give us a call;

if you received a distribution from public unit trust, please provide a copy of the annual distribution summary and end of year portfolio statement. If portfolio statement is not available, please provide holding balance and market value of each investment. (up to 5MB-Please ZIP into single file)

3. Rent:

Do you receive rental income? *

Yes

No

provide copies of the monthly rental statements or a copy of the annual rental summary, if available, of all investment properties; (up to 5MB-Please ZIP into single file)

supply settlement sheets and purchase documents if you acquired property after 1st July 2020 (up to 5MB-Please ZIP into single file)

provide the market value of each rental property as at 30 June 2020. If you have any problem on this issue, please feel free to give us a call; (up to 5MB-Please ZIP into single file)

Indicate if there’s any joint venture arrangement underlying any properties. If so, your client manager will advise what info to provide; (up to 5MB-Please ZIP into single file)

4. Interest:

1.Name of Bank

Account Number

Total Interest Received ($)

Add another?

Yes

No

2.Name of Bank

Account Number

Total Interest Received ($)

Add another?

Yes

No

3.Name of Bank

Account Number

Total Interest Received ($)

Add another?

Yes

No

4.Name of Bank

Account Number

Total Interest Received ($)

Add another?

Yes

No

5.Name of Bank

Account Number

Total Interest Received ($)

Add another?

Yes

No

6.Name of Bank

Account Number

Total Interest Received ($)

Add another?

Yes

No

7.Name of Bank

Account Number

Total Interest Received ($)

Add another?

Yes

No

8.Name of Bank

Account Number

Total Interest Received ($)

Add another?

Yes

No

9.Name of Bank

Account Number

Total Interest Received ($)

Add another?

Yes

No

10.Name of Bank

Account Number

Total Interest Received ($)

5. Dividends:

Please provide copies of all dividend statements including those that take part in dividend reinvestment plan. If you have problems finding all these statements, please feel free to contact us

1. Name of Shares (please indicate if the shares take part in DRP)

Unfranked Dividend

Franked Dividend

Imputation Credit

Add another?

Yes

No

2. Name of Shares (please indicate if the shares take part in DRP)

Unfranked Dividend

Franked Dividend

Imputation Credit

Add another?

Yes

No

3. Name of Shares (please indicate if the shares take part in DRP)

Unfranked Dividend

Franked Dividend

Imputation Credit

Add another?

Yes

No

4. Name of Shares (please indicate if the shares take part in DRP)

Unfranked Dividend

Franked Dividend

Imputation Credit

Add another?

Yes

No

5. Name of Shares (please indicate if the shares take part in DRP)

Unfranked Dividend

Franked Dividend

Imputation Credit

6. Capital Gain:

Capital Gain: Did you sell any assets such as share investments or property in the 2019 financial year, i.e. from 1st of July 2020 to 30th of June 2021?

Yes

No

If yes then please provide documentation of when it was purchased / cost and also documents on sale / funds received etc. (5MB MAX-Please ZIP into single file)

7. Any Other Income

(Details of all receipts during the financial year, e.g. gross payments subject to foreign resident withholding etc. which do not fit into any of the above categories.)

(up to 5MB-Please ZIP into single file)

8. Rollovers from other Super Funds.

If there was any rollover of funds from the member(s)’ other superannuation fund(s) to the SMSF, please provide a copy of the Roll-over Benefits Statement issued by the paying super fund. (up to 5MB-Please ZIP into single file)

9. Contribution

Did the fund receive any contribution? If so, please provide a list of contributions received and identify name of member who received the contribution. (up to 5MB-Please ZIP into single file) *

10. Pension

Did the fund pay any pension? If so, please provide a list of pensions paid and identify name of member who received the pension. (up to 5MB-Please ZIP into single file) *

11. Expenses

Please provide a list of expenses paid by the Fund. If the Fund pays allocated pensions to its members, please contact us as you may have to provide more information regarding the exempt pension income as an actuarial certificate required. (up to 5MB-Please ZIP into single file)

12. Investments

Please provide copies of evidence of proof of the existence, ownership, and acquisition of assets, which, in simple English, means the buy contract of shares in listed companies, title deeds of property, investment holding balance as of 30/06/2021, etc. If you have a problem with this issue, please feel free to give us a call.

If the Fund invests in art, paintings, antiques, etc please advise where the items are stored and how their market values as at 30 June 2021 are arrived at. (up to 5MB-Please ZIP into single file)

13. Tax Loss

Did the SMSF have a loss to be brought forward from prior year?

Yes

No

14. Loans

Are your loans looked after via a broker or directly through a bank manager?

Broker

Bank Manager

15. Other:

Any other information which you are unsure of category and would like us to be aware of:

(up to 5MB-Please ZIP into single file)

Please note that you are required to forward some or all the above documents to us for preparing your financial statements and tax return. The above list, while being quite comprehensive, is not meant to be exhaustive. If you are not certain whether additional information/documents are required or some of the documents are missing, please feel free to give us a call.

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