Managing your portfolio and ensuring all necessary documentation is in order is crucial for a smooth and successful tax return process. Here is a comprehensive guide to help you navigate through the essential steps of accessing your portfolio and lodging your return with Supervision Group.
1. Online Portfolio Access
First and foremost, ensure that you have online access to your portfolio. You can log in to your account at Class Super. This platform provides a convenient and secure way to manage your investments and stay updated on your financial status.
2. Portfolio Information and Support
Once logged in, you can check all the details of your portfolio. If you encounter any discrepancies or issues, do not hesitate to reach out to us. Our team is ready to assist you with any questions or concerns you may have regarding your portfolio.
3. Unmatched Cash Transactions
Our team will periodically review your transactions and may request updates on any “unmatched” cash transactions. Ensuring all transactions are properly matched is vital for accurate financial reporting.
4. Missing Documents
We might also ask for any missing documents related to these transactions. Providing the required documentation promptly helps in maintaining the integrity of your financial records.
5. Taxable Position Considerations
If you are in a taxable position, please note that we will not complete your return immediately. This allows us to ensure all aspects of your tax situation are thoroughly reviewed and accurately reported.
6. Tax Return Deadlines
Your first tax return is due by the 28th of February 2025. Meeting this deadline is essential to avoid any penalties and ensure a smooth lodging process.
7. SMSF Audit
Supervision will send your Self-Managed Super Fund (SMSF) to our preferred auditor. This audit is an important step to ensure compliance and accuracy in your financial reporting.
8. Addressing Audit Issues
If the auditor identifies any issues, these will be communicated to you. We will work closely with you to resolve any problems and ensure your SMSF meets all necessary requirements.
9. Year-End Tax Pack
At the end of the fiscal year, you will receive a tax pack for review and signing. This pack contains all the information needed for your tax return.
10. Signing and Lodging Your Return
Once you have reviewed and signed your tax pack, Supervision will lodge your return. This step finalizes your tax obligations for the year.
11. Tax Meeting Offer
We encourage you to take advantage of our offer for a tax meeting. This is an excellent opportunity to discuss your tax situation in detail and plan for the future.
12. Ongoing Support
If at any stage you are worried about the process or have any questions, please call us to make an appointment or get immediate answers over the phone. Our team is here to support you every step of the way.
By following these 12 essential steps, you can ensure that your portfolio is accurately managed and your tax return is successfully lodged. Supervision Group is dedicated to providing you with the best possible service and support.
