Concessional Contributions

• Have the members made concessional contributions not exceeding the concessional contribution cap of $25,000 during 2017-18 FY?
• If the contribution reserve strategy has been used, have you prepared the necessary documents as well as the request to adjust concessional contribution form?
• If the member is claiming a deduction for personal contributions made during 2017-18 FY, has the member notified the SMSF of this intent?

Non-Concessional Contributions

• Have the members made any non-concessional contributions up to $100,000, or up to $300,000 to trigger the 3-year bring forward rule?
• If any members have made any non-concessional contributions, have you reviewed their eligibility based on their total super balance as at 30 June 2017?

If the contribution reserve strategy has been used, have you prepared minutes/resolutions, as well as the necessary documents for the ATO?

Other Contributions

• Have the members received government co-contribution or made spouse contribution?
• If so, have you reviewed member’s eligibility (i.e. member’s TSB as at 30 June 2017) to receive government co-contribution and tax offset for spouse contributions?

External Super Balance

• Have any of the members got any super interests outside of this SMSF?
• If so, have you updated member’s external super balance under their contribution caps as at 30 June 2017?

• Has the SMSF got any Transition-to-Retirement Income Streams? Review either the member statement or TRIS filter under the Member Console.
• Have you ensured that the pension minimum based on member’s age but no more than 10% of the TRIS balance are paid before 30 June 2018? 
• Have you done appropriate PAYG withholding on TRIS for members under age of 60?
• Have you run any period updates during the 2017-18 FY? Check Exception Reports, any period updates processed before 1 July 2018 will need to be re-run.
• Have you used Elected Segregation for TRIS prior to 1 July 2017? If so, review your asset pool structure and fund policy, as you can no longer assign TRIS accounts to a Pension Pool and segregate them for pension purpose.
• Have any of the members who had TRISs, satisfied a nil cashing restriction condition of release (e.g. turn age 65 or retired) during the 2017-18 FY? If so, review Exception Reports, period update is required to be performed one day before member turned age 65 or retired.
• Have any of the member satisfied nil cashing restriction condition of releases (e.g. turn age 65 or retired) during the 2017-18 FY and the sum of the TRISs balance is over and above $1.6m at the time when this occurred? If so, have you reduced these pensions to be below $1.6m on their 65^th birthday or on the date of which the TRISs become in retirement phase?

All Funds with at least one retirement phase interest

• Do all SMSF members’ retirement phase income streams (RPIS) comply with the $1.6m transfer balance cap? If not, have you taken the necessary steps to reduce its retirement pension balance through commutations including removing the small excess capital of less than $100,000 by 31 Dec 2017 without penalties?
• Have you paid pension minimum for RPIS based on member’s age?
• Have you done appropriate PAYG withholding on RPIS for members under age of 60?
• Have you prepared or lodged 30 June 2017 retirement phase pension balances as part of Transfer Balance Reporting, including accumulation phase value if applicable?
• Have any of the member’s total super balance taken into account their external super balance exceeds $1.6m? If so, they cannot use segregated method to work out their exempt current pension income (ECPI).
• Have you sold any assets whether wholly or partially in 2017-18 FY when the assets have previously applied transitional CGT relief using proportional method with amount of notional capital gain deferred? If so, you need to review realised capital gains report and 2018 CGT schedule.
• Have you generated 2018 SMSF Annual Return and its associated schedules and reviewed the numbers, specifically exempt current pension income (ECPI) and new labels related to member sections?

Elected Segregation Funds

• Do you intend to use segregated method to work out ECPI for the eligible SMSF?
• If so, have you checked member’s total super balance as at 30 June 2017 including their external fund balance is below $1.6m?
• Have you reviewed both the fund policy and asset structure, to make sure the assets are correctly assigned to the pension pools?
• Have you reviewed ECPI attributable to the pension assets and Pension Exemption % (Fund Expenses) calculation?

Deemed Segregation Funds

• Were any of your SMSFs either in mixed or accumulation phase and changed into 100% pension phase during the 2017-18 FY, or vice versa? For example, where one member is in pension mode and another is in accumulation mode and used the accumulation to commence a pension and the fund consequently moves into 100% retirement phase; or a single member fund where the member turned 65 and converted his 100% TRIS into retirement phase.
• If so, have you run any period updates to the date before the boundary conditions happened, i.e. when a fund moved into 100% pension phase or 100% pension fund moved into mixed phase? Check Exception Reports, you may need to re-run period updates when boundary conditions occurred.
• Have you reviewed any Exception Reports warnings in relation to distribution tax statements? You may need to pro rata tax statement details based on the distribution cash amount received.
• Have you obtained a 2018 actuarial certificate from one of Class' integrated actuarial providers?
• Have you reviewed ECPI calculation and Pension Exemption % for Fund Expenses?

Elected Segregation (also known as active or actual segregation) – For an SMSF that has certain assets that are specifically set aside to support some or all of the current pension liabilities.

Deemed Segregation – For an SMSF that is eligible to use the segregated method in a given financial year, if at any stage during that year there are periods where the assets are solely supporting retirement income streams then those periods are ‘deemed’ to be segregated.

Deemed Unsegregated – For an SMSF there are periods where it is not "deemed segregated" during the financial year. This normally implies the fund was either in full accumulation phase or mixed mode where the assets are supporting both accumulation and retirement phase interests.