Just because an SMSF was a great idea when it was set up, doesn’t mean it will stay that way forever.
An SMSF takes time, effort and attention to manage every year; and the moment that effort outweighs the benefits it is a perfectly reasonable time to wind it up.
Things that can trigger the end of an SMSF include:
- the death or incapacity of a Member;
- ongoing compliance issues;
- the fund is no longer fit for purpose;
- there is a low balance in the fund; or
- the disposal of a key asset in the fund.
At Heffron we are experts at providing you with ‘Everything SMSF’ and that includes wrapping up any years that are outstanding, and supporting you to wind up an SMSF if it is no longer right.
How we can help
Finalising administration for incomplete years
Heffron can assist with the accounting of any incomplete years for your fund. Whether it's just one year to wind up or there are multiple outstanding, our specialist team of administrators can attend to your fund's needs.
Assist in managing compliance issues
If ongoing compliance issues are stopping the wind up of your fund, our expert team of SMSF specialists can help you develop a practical path forward to resolve the fund's compliance issues.
Manage audit and tax return for outstanding years
Our team can also assist with audit preparation for your fund/s and are experienced in dealing with the Australian Taxation Office to ensure your return/s go through smoothly.
How does it work?
It’s important for our team to understand the reasons why you would like to close the SMSF so that we can provide an accurate quote for this service. They will also need to know if there are any compliance issues. If you choose to proceed we have mapped out the transition process in the flyers below, so you know what to anticipate before winding up.
Request a quote
To learn more and request a quote for this service fill in the form below and one of our team will be in touch. Alternatively you can call our Client Relationship Team on 1300 433 376.
Learn more about winding up an SMSF
Windups: Tips and Tricks webinar
In this webinar for professionals, we’ll walk through the wind up process, explore common problem areas, and show you how to make the process as simple as possible.
5th June 2025 | 11:30am–1pm AEST
$176 (incl GST)
28 May 2020
Amazing as they are, when do SMSFs stop being appropriate?
There are many reasons why individuals choose an SMSF as their primary retirement savings vehicle. However for some, there will come a time when the SMSF is not appropriate for them.
3 June 2020
Winding up an SMSF before the end of financial year
So your client has decided to wind up their SMSF? It’s vital for all involved to be aware of the potential traps in the windup process to avoid unnecessary costs and complexity.
30 April 2021
Winding up an SMSF this year? Get your skates on!
When SMSFs have finished their useful life and are being wound up, doing so before the next 30 June rolls around is a common objective. What are the top issues to consider this year?
