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Accounts from the previous financial year need to have been finished as well as preparation done for paperwork with the financial and member reports. Auditors need to be appointed in order to review accounts of the SMSF before lodging this on the tax return of the fund before the date required.
At the financial year’s end, the months that follow are usually the time in which trustees of the SMSF are the busiest. This is especially true for administrators of the fund work for them. It is at this point that all the super contributions you had done in the year before needs to have been market. Doing this will ensure minimum payments of pension. As a trustee of SMSF you should also ensure the assets of your fund valued at the end of the year and that you are able to meet obligations of reports.