Frequently Asked Questions

What do I need to do each year for my SMSF?

Make your investment decisions and then leave the rest to us! That's what we're here for. We'll take care of the fund's annual accounts, tax return, audit coordination and compliance requirements. We'll simply let you know if we need anything from you along the way.

When is my SMSF tax return due?

We'll keep track of all lodgement deadlines for you and make sure everything is submitted on time. If we need any information to complete the return, we'll be in touch well before the due date. Depending on the age/status of the fund, the due dates are usually 15 May, 28 February (first return) or 31 October (previous contravention).

What paperwork do I need to keep?

Please keep copies of all documents relating to contributions, pensions, investments, property purchases or sales, and major fund decisions. If you're unsure whether we need something, just send it through and we'll take care of the rest. The more evidence the better!

Does my SMSF need to be audited every year?

Yes. Every SMSF must have an annual independent audit. We organise this for you and work directly with the auditor to keep the process as smooth as possible. This is included in your annual fees.

What's involved in setting up an SMSF?

Setting up an SMSF involves establishing the legal structure with ASIC and registering it with the ATO. You’ll then need a separate bank account for your SMSF and then you’re ready to go. We do all of the paperwork for your registrations, give you what you need to head to the bank and open the account and then it’s back to us again to help you roll your funds from your retail super fund.

What does an SMSF administrator do?

Here at Andromedae we help to manage the day-to-day administration and compliance requirements of your Self-Managed Super Fund, ensuring it meets its ongoing obligations. We like to say we’re the PA for your SMSF. You make the decisions and we run around in the background taking care of all the paperwork for you.

Do you prepare and lodge the SMSF tax return & annual audit?

Yes! We take care of that for you and it's included in your monthly administration fee, so no out-of-pocket costs.

How do you communicate with clients?

Generally we email, call or text our clients, and we aim to respond to any enquiries either the same day or the next business day.

Why should I choose a specialist SMSF administrator?

At Andromedae, we focus exclusively on the administration and compliance requirements of your SMSF. This dedicated expertise means we're familiar with the legislation, reporting obligations and processes involved in managing an SMSF.