In the SMSF – SMSF Compliance Basics - 2025

Navigate the accounting and tax implications of transactions within the fund, including investments, NALI & NALE, expenses & more.

In this unit, we cover:

• Investments

  • What can a super fund invest in?

  • Assets in detail: Cash & Term Deposits, Shares & Equities, Listed & Unlisted Trusts, Managed Funds, Property, Cryptocurrencies, Derivatives, Physical Commodities, Collectables & Personal Use Assets

  • In-house assets

  • Borrowing to buy & LRBAs

  • Who is a related party?

• Audit requirements for SMSFs

• Valuation of SMSF assets

• Investment strategy

• Income in an SMSF

  • What types of income can an SMSF have?

  • Arm’s length income and expenses (NALI & NALE)

  • Accounting for income in software

• Costs & Fees in an SMSF

  • Overview of different fees and expenses

  • Which expenses are tax deductible?

• Income tax calculation for SMSFs

  • Tax rates for super funds – complying vs non-complying

  • Taxation points: Contributions, Earnings, Death benefits paid out

  • Sample SMSF tax reconciliation and tax return on software

Date recorded: 19 June 2025