SMSF

• Assets must be realised or transferred, liabilities settled and member benefits paid or rolled over before the final audit and return.

• The auditor checks the wind-up conditions, member agreement, financial statements, asset disposals at market value and that benefits were paid correctly.

• The ATO recommends checking the fund's account balances, claiming refunds such as excess franking credits and leaving a buffer for post-lodgment costs.

• The ATO says the minimum payment must generally be paid before a full commutation, and partial commutations need enough assets left to pay it.

• The bring-forward amount depends on total super balance at 30 June 2026, from up to $390,000 under $1.84 million to nil at $2.1 million or more.

• Most transfer balance events are reported quarterly, within 28 days after the end of the quarter in which they occur.

• An independent valuer is legally required only when collectables or personal use assets are disposed of to a related party, and is otherwise recommended where an asset is significant or complex.