hello. i want to save my parents some money.
* they run their own smsf
* they are in accumulation phase
* cost of getting the tax return done, audited, other compliance costs $2500 pa
* very straight forward SMSF, no tricks
* i am an accountant but no expert in this field
I believe it cant be too hard to prepare the tax return and other compliance required (minutes of meeting etc) so wonder if anyone else does it themselves and how easy/hard it is and any thoughts on the matter.
The question that i am most stuck on is that the accounts need to be audited so how would i go about this and what entails 'accounts'. Can i do this on a spreadsheet or does it have to be a program?
any thoughts are appreciated.