● SMSF setup & administration
SMSF Setup & Admin
Fixed-fee Self-Managed Super Fund administration, accounting and independent audit — handled end-to-end.
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We do not provide financial advice. We maintain the accounting records and administer the fund. Investment decisions are made by you and/or your licensed adviser.
● Powered by BGL Simple Fund 360
We keep your fund data visible and our clients up to date
Our SMSF administration runs on BGL Simple Fund 360, giving trustees and members real-time access to the numbers that matter — without waiting for a year-end statement.
- Member Allocation Overview
- Investment and Pensions Dashboards
- Tracking of Contributions Limits
- Trustee Query for easy communication with clients
That means faster questions answered, fewer surprises, and a clearer picture of your SMSF all year round.
Simple Fund 360
Cloud SMSF administration platform
● Step 1 — before we start
Get an SOA from an AFSL-licensed adviser
Before we set up your fund, please obtain a Statement of Advice (SOA) from a financial adviser holding an Australian Financial Services Licence (AFSL) confirming that an SMSF is right for your circumstances. Once your SOA is in hand, we can set up and administer your fund end-to-end.
Don't have an adviser yet? We're happy to point you toward a licensed adviser in the Peel region or Australia-wide.
We can set up your fund
Once you've received your SOA from a licensed adviser, we take care of the fund establishment — trust deed, corporate trustee (if applicable), ABN/TFN registration, electronic service address, bank account paperwork and rollover forms.
From there we keep your fund compliant year after year with clean accounting records, an ATO annual return lodged on time, and an independent audit arranged through our accredited auditor.
SMSF — FAQs
Do you provide financial or investment advice?
No. We maintain the accounting records and administer the fund. We do not provide financial advice. Investment decisions are made by you and/or your licensed financial adviser.
What's the first step to setting up an SMSF?
Obtain a Statement of Advice (SOA) from an AFSL-licensed financial adviser confirming an SMSF is appropriate for you. Once you have your SOA we can set up the fund structure, trust deed, ABN/TFN and bare essentials to get you operating.
Can Priory set up the SMSF for me?
Yes — once you've received your SOA from a licensed adviser, we handle the trust deed, ATO registrations, trustee documentation and rollover paperwork to get your fund up and running.
Is the audit really independent?
Yes. SMSF audits must be conducted by an ASIC-registered SMSF auditor who is independent of the accountant/administrator. We arrange your audit through an accredited independent auditor.
Audits — why?
Audit (mandatory, annual, and independent)
Every SMSF must be independently audited every year — there are no exceptions, even for a fund that made no investment changes or holds only cash. And it must happen before the return is lodged, because the SAR asks whether the audit was done.
- It must be done by an approved SMSF auditor — ASIC-registered, holding an SMSF auditor number (SAN). Not every accountant qualifies; it's a separate registration with its own qualification, CPD and PI requirements.
- It's a two-part audit: a financial audit (are the statements accurate) and a compliance audit (does the fund meet the SISA/SISR rules).
- Contraventions are reported to the ATO via an Auditor Contravention Report, within 28 days of completing the audit.
What do we do as part of SMSF administration?
Administration (the ongoing recurring work)
This is the accounting and compliance engine that runs all year and culminates in the annual lodgement. It covers:
- Recording the fund's transactions — contributions in, rollovers, investment income (dividends, interest, rent, distributions), fund expenses, and pension or lump-sum payments out.
- Year-end market valuation of every asset — a SISR requirement, and a major audit focus; property, unlisted assets and anything over 10% of fund value especially.
- Preparing the financial statements (operating statement + statement of financial position) and member balance statements.
- Working out the tax position — CGT on investment disposals, exempt current pension income (ECPI), franking credits, the taxable/tax-free components.
- Preparing and lodging the SMSF Annual Return (SAR) — which rolls income tax, regulatory reporting and member contributions into one form.
- TBAR (Transfer Balance Account Report) — from 1 January 2026, all SMSFs must follow a quarterly reporting framework.
- Trustee documentation — investment strategy reviews, minutes and resolutions for significant decisions, pension documentation, actuarial certificate coordination if in pension phase.
- Monitoring contribution caps, pension minimums, and now Division 296 — the extra 15% tax on earnings attributable to balances over $3m, which applies from the 2025–26 income year with the first total-super-balance test at 30 June 2026.
- Appointing the auditor — required at least 45 days before the annual return due date.
Need a company or trust too? See our Business Setup page.
● Contact
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(08) 6444 1749Or email us anytime
stuart@thepriorybooks.com.auSend us a message
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