The beginning of a new financial year in July is the perfect time for trustees of a self-managed super fund (SMSF) to review, plan, and set the stage for success. Proactive administration now can save you significant time and ensure you remain compliant and are maximising your strategy.
Here are six key checklist items from our SMSF specialists at Walsh Accountants to get your 2025-26 financial year off to a great start.
SMSF Administration Tasks
There are some administration tasks that makes sense to do at the start of the financial year.
Assets Without Publicly Available Market Values
Does your fund have assets where there’s no publicly available market value? Good examples would be property, collectables and holdings in private companies and private trusts. Sometimes even public investments that aren’t listed on a stock exchange fall into this group.
Your auditor will ask you for an up-to-date market value of all your assets as at June 30, 2025. It is much easier to get this ready now for your auditor when you have your tax return prepared.
Valuation for Property Owned by SMSF
Accurate property valuations are more critical than ever. The ATO requires that property valuations be based on objective and supportable data.
Commercial Property: An independent valuation is recommended at least every two years. In alternate years, trustees should assess market movements and document the rationale for any valuation adjustments.
Tax Benefit to Structuring Extra Payments
Review of your investment strategy
Prepare your SMSF Trustee ‘Notice of Intent to Claim’
Consider contributions arrangements (this is not only for SMSFs)
It’s time to get your information to us
If you already have access to the documents outlining your fund’s activity for the entire financial year, we encourage you to send them through as soon as possible. In most cases, the only documents that are not immediately available after year-end are tax statements from WRAP platforms, public trusts, and managed funds, which are typically issued later.
Submitting your information early can be beneficial. For example, if your fund only holds ordinary shares and cash, it’s likely to be entitled to a tax refund. That refund is better off in your fund’s bank account earning interest and contributing to your retirement savings, rather than sitting with the ATO until May next year.
If your fund has tax payable, we are happy to prepare the return now and delay lodgement until May 2026 to maximise your cash flow flexibility.
How can Walsh Accountants help?
Walsh Self Managed Superannuation (SMSF) offers expert advice and services to ensure your SMSF is compliant and optimised. For assistance with your SMSF review or planning, contact our resident SMSF specialist, Jared Alford.
As an SMSF specialist, I work with clients that are exploring the world of Self-Managed Super Funds by providing technical and administrative support along with strategy implementation.
Self-Managed Superannuation Funds aren’t just about managing wealth; they are about empowering individuals to take control of their financial future, navigate their own course, and secure their financial destiny with purposeful intent.
Areas of Expertise: Estate Planning and Administration. SMSF.
Qualifications: CPA Australia. Bachelor of Business (Accounting and Finance), Griffith Business School
