This depends entirely on how actively you wish to trade your investments. As your administrator Superannuation Service provider will take care of the rest of your paperwork, making the entire process as easy and hassle-free as possible.
The trustees are responsible for running the fund and making and taking action for all investment decisions. You are also responsible for banking contributions and income received. As administrators we mainly get involved at the end of the financial year when we request copies of all of your Funds statements and transactions.
However, we do answer any queries you may have during the year in relation to superannuation and what you can and cannot do with your fund. We would encourage you to check with us first.
The consequences of breaking the rules are dire. As administrators we ensure that your Fund's paperwork is in order, should your Fund be audited by the ATO.
On an annual basis we collate your Funds financial information (which you send to us) and prepare financial statements, tax return, and other applicable returns.
We do not advise on where/how to invest your super fund money but we can explain the investment rules. We do however ensure that your Fund investments comply with your documented investment strategy at the financial year end.