Engaging service providers 

Many trustees choose to engage SMSF service providers to help administer and manage their fund. This could include:

• Tax agent/accountant - help to prepare the accounts and financial records, complete and lodge the annual income tax return and provide tax advice.
• Fund administrator - help to manage the day-to-day running of the fund and meet the annual reporting and administrative obligations.
• Legal practitioner - review and update the fund’s trust deed and provide advice on compliance with SIS rules.
• Financial adviser – help to prepare an investment strategy and select appropriate investments, recommend appropriate levels of insurance for members, as well as implement appropriate strategies for wealth accumulation and pension payments. 

ATO information

The ATO provides a number of tools to help trustees interpret the rules. Trustees can refer to the ATO website for a range of information and resources.