At Supervision, we send you an Letter of Engagement annually after your SMSF tax return has been completed. This isn’t just a formality—it’s a vital part of maintaining transparency, trust, and regulatory alignment in your SMSF journey.
What Is an Engagement Letter?
An engagement letter is a formal agreement that outlines:
- The scope of services we’ll provide (e.g., ongoing administration, audit facilitation, tax returns)
- Your responsibilities as a trustee
- Our systems and processes
- The fees and costs involved
- What’s included, what’s excluded, and what’s considered out of scope
It’s essentially a roadmap for the year ahead, ensuring everyone is on the same page.
Why Do We Send It Annually?
Even if you’ve been with us for years, circumstances change:
- Regulations evolve
- Your SMSF may grow or shift in complexity
- You might add or remove members
- Fee structures or service packages may be updated
By reissuing the engagement letter each year, we ensure that:
- You’re aware of any updates or changes
- You understand your obligations and rights
- We maintain compliance with professional standards and licensing requirements
Why You Should Read It Carefully
This document isn’t just for filing away—it’s for your protection and clarity. Reading it helps you:
- Understand what services you’re paying for
- Know what’s expected of you as a trustee
- Avoid surprises when it comes to fees or compliance deadlines
- Recognize what’s not included (e.g., personal financial advice, investment strategy analysis)
It also outlines how we handle complaints, what happens if deadlines are missed, and how we manage your data securely.
Our Commitment to You
We’re committed to empowering you to make savvy choices, achieve great results, and live your dreams. The engagement letter is part of that commitment—it’s a tool to keep your SMSF running smoothly and confidently.
If you ever have questions about the contents of your engagement letter, please reach out. We’re here to help.
