Annual administration, tax return, and audit this involves keeping accurate accounting
records to explain the transactions and financial position of your SMSF each year, trustee minutes on all major decisions, lodging the fund income tax and regulatory return, and having the fund independently audited each year. Normally a SMSF admin service provider will take care of these items for you, however you will need to provide them with all the paperwork regarding the transactions of your fund from throughout the year, and answer any questions they may have on specific transactions.