Access Super Audit Pty Ltd
Accounting Services in Sydney

Specialist smsf auditors we provide high quality yet cost-effective smsf audit service to accounting firms, financial advisors and smsf trustees. Our focus is to provide the highest quality independent audit service available, with a fast turnaround and professional result. Our audit programs are continuously updated to keep up with the constant change in smsf legislation. We meet the independence requirements of apes 110 which reduces your risk of an ato audit. As your smsf audit expert, we can also provide technical support for you or your practice, ensuring that you have access to highly experienced smsf specialists to answer all your compliance questions. If you are looking for a knowledgeable and positive approach to your smsf compliance that helps you reduce your risk of non-compliance, we can help!.

We look after our clients and funds we audit. Vivian has been an SMSF auditor since 2007. Transfer balance is the net amount of capital an individual has transferred to their superannuation retirement phase. There is no such requirement for auditors in Portion B. Other additions in Portion An are: Trustees are responsible for overseeing the fund’s financial reporting process and auditors are to communicate with trustees, among other matters, the rehearsed scope and timing of the audit and important audit findings. In general, transfer balance account starts when a member commences a pension for the beginning time. Broadly, amounts transferred to start a pension are credited and amounts commuted out of the pension are debited. For an SMSF member with no other superannuation interests outer the SMSF, it simply means the sum of his accumulation balance and pension balance in the SMSF. When an SMSF member has superannuation interests in splendid funds exterior the SMSF, those interests are included in his Entire Superannuation Balance as well. Defined profit income stream is already included in the transfer balance account. Reading the trustee representation letter will enhance trustees’ knowledge of SIS compliance and ensure there is no misunderstanding between the auditor and the trustees. A trustee representation letter also has precious information on fund operation such as fund conduct in accordance with the believe deed, inside control, fraud, and asset management. A company acting as trustee is obvious as corporate trustee, instead of being individual trustees, members are directors of the corporate trustee. The Commissioner must make a written determination for individuals who have made extra non concessional contributions for the financial year. The determination states the amount of the additional contributions, the amount of the associated profit for those contributions, and the entire free amount. Where the amount of the additional contributions is released from superannuation OR the commissioner determines that the value of the individual’s superannuation interest is nil, the associated benefit amount is included in the individual’s asses sable income. The amount paid to the individual by the superannuation provider in accordance with a free authority is a superannuation lump sum gain of the individual, but the amount itself does not have income tax consequences for the individual as it is nonassessable nonexempt income. However an associated earnings amount is tranquil included in the individual’s asses sable income. The individual will have the best of the paying the additional contribution tax personally or through their super fund. The Individual can make an election to release any amount up to 85 of their excess concessional contributions from their superannuation account. Superannuation contributions that exceed your concessional contributions cap are included in your asses sable income for the corresponding income year. The period for the surplus concessional contributions charge starts at the begin of the income year and ends fair earlier tax is due to be paid under your beginning assessment for the year. Superannuation providers will usually be required to pay an amount from the superannuation interest. Although less seen as an issue in practice, technically speaking, a fund with individual trustees is not capable to pay lump sum profit unless their believe deed allows.