You are meeting a new SME client with their own SMSF. Do you have a practical checklist to cover all the issues that you and the client will need to consider?
Use this paper to develop a checklist for your clients covering:
- SGC
- cash flow planning for contributions
- taking over administration of a SMSF
- checking key fund documents and records
- risk areas to identify
- avoiding excess contributions tax
- key dates
- workflow and submission of information from clients
- what can the tax agent advise on and what needs to be referred out?