How can we help?
SMSF annual audit checklist
This guide applies to Australian SMSF trustees. It is general information only and not financial, legal, or tax advice. Consult your SMSF auditor or accountant for requirements specific to your fund.
Every SMSF must be audited annually by an approved SMSF auditor before lodging its Annual Return with the ATO. An auditor's job is to reconcile your Sharesight data against real-world evidence — meaning every Sharesight report needs a matching external document to back it up.
1. Proof of ownership & valuation
Sharesight report: Historical Cost Report — set the date to 30 June.
Why: This is the equivalent of a Statement of Financial Position. It shows the opening balance, purchases, sales, and closing market value — and displays cost vs. market value side-by-side, making it more useful for audits than the Performance Report.
External document required: HIN/SRN Holding Statements from the share registry (Link Market Services, Computershare) or a Broker Portfolio Summary. The auditor needs to confirm the units held in Sharesight match the registry records.
2. Transaction audit
Sharesight report: All Trades Report — set the date range to 1 July – 30 June.
Why: This lists every event that changed the fund's balance — buys, sells, corporate actions, and adjustments.
External document required: Broker Contract Notes. For any buy or sell listed in the report, the auditor may request the original PDF from the broker to verify brokerage fees and the trade date.
3. Income & tax reconciliation
Sharesight report: Taxable Income Report.
Why: This is your Dividend Statement summary. It breaks down franking credits, TFN withholding, and foreign income by holding.
External document required: Annual Tax Statements (AMMA / SDS). This is critical for ETFs (e.g. Vanguard, BetaShares). The auditor must see the official statement from the fund manager to confirm that the tax components — such as AMIT adjustments — were entered into Sharesight correctly. See How to attach files and documents to store each AMMA/SDS against the relevant holding.
4. Capital gains verification
Sharesight report: CGT Report.
Why: It calculates the CGT discount (33.33% for SMSFs holding assets longer than 12 months) and separates realised from unrealised positions.
Important: Before running this report, check your Unconfirmed Transactions (the lightning bolt ⚡ icon in Sharesight). Auditors will not accept reports that contain unverified data. Confirm all transactions before exporting.
5. Bank & cash reconciliation
Sharesight report: Cash Account export for the full financial year.
Why: To prove the fund's opening and closing cash balances are accurate.
External document required: Bank Statements for the full year (PDF from your bank). This is non-negotiable — the auditor must see the bank's own records to verify the cash balance actually exists.
5. Opening and closing market value
As at: 1 July (opening) and 30 June (closing)
What it is: A statement showing cost base alongside opening and closing market value for each holding — used to confirm the fund's asset valuation at the start and end of the financial year.
How to get it: Run the Historical Cost Report. Set the date to 30 June to capture the closing position. Run a second time with 1 July for the opening position if required.
Key fields: Opening Market Value, Closing Market Value, Cost Base, Unrealised Gain/Loss.
Summary table
| # | What it proves | Sharesight report | External document |
|---|---|---|---|
| 1 | Ownership & valuation | Historical Cost Report (30 June) | HIN/SRN Holding Statements |
| 2 | All transactions | All Trades Report (full year) | Broker Contract Notes |
| 3 | Income & tax | Taxable Income Report | Annual Tax Statements (AMMA/SDS) |
| 4 | Capital gains | CGT Report | — (confirm ⚡ unconfirmed trades first) |
| 5 | Cash balance | Cash Account export (full year) | Bank Statements (full year) |
All Sharesight reports can be exported to PDF, spreadsheet, or Google Drive. See Exporting a report.
Tax reporting for your SMSF
At year end, your SMSF requires four types of statements for tax filing. Here is what you need, how to get it in Sharesight, and which fields to reference.
1. Transaction summary statement
Period: 1 July – 30 June
What it is: A complete record of all buy, sell, and adjustment transactions made by the fund during the financial year.
How to get it: Run the All Trades Report. Set the date range to 1 July – 30 June.
Key fields: Date, Instrument, Type, Quantity, Price, Brokerage, Total Value.
2. Financial year summary statement
As at: 30 June
What it is: Confirmation of units held and market value of each holding at the end of the financial year.
How to get it: Run the Performance Report. Set the end date to 30 June — the start date is irrelevant for this purpose.
Key fields: Quantity (units held), Market Value, Opening Value, Closing Value.
3. Dividend and distribution statements
Period: Full financial year
What it is: A record of all income received by the fund, including dividends, distributions, franking credits, TFN withholding, and foreign income.
How to get it: Run the Taxable Income Report. Set the date range to the Last Financial Year.
Key fields: Gross Dividend, Franked Amount, Franking Credits, TFN Withheld, Net Dividend.
4. Annual Tax Statement for Listed Unit Trusts
Period: Current or last financial year
What it is: Capital gains tax data for managed fund and ETF holdings, required for trust tax components (AMIT/AMMA statements).
How to get it: Run the CGT Report. Set the date range to the current or last financial year.
Key fields: Proceeds, Cost Base, Realised Gain/Loss, CGT Discount Applied, Net Capital Gain.
5. Opening and closing market value
As at: 1 July (opening) and 30 June (closing)
What it is: A statement showing cost base alongside opening and closing market value for each holding — used to confirm the fund's asset valuation at the start and end of the financial year.
How to get it: Run the Historical Cost Report. Set the date to 30 June to capture the closing position. Run a second time with 1 July for the opening position if required.
Key fields: Opening Market Value, Closing Market Value, Cost Base, Unrealised Gain/Loss.
Summary table
| What you need | Sharesight report | Date setting | Key fields |
|---|---|---|---|
| Transaction summary | All Trades Report | 1 Jul – 30 Jun | Date, Type, Quantity, Price, Brokerage |
| Financial year summary | Performance Report | End date: 30 Jun | Quantity, Market Value, Closing Value |
| Dividend & distribution statements | Taxable Income Report | Last Financial Year | Gross Dividend, Franking Credits, TFN Withheld |
| Annual Tax Statement (LUT) | CGT Report | Current or last FY | Proceeds, Cost Base, Net Capital Gain |
| Opening & closing market value | Historical Cost Report | 30 Jun (and 1 Jul for opening) | Opening Market Value, Closing Market Value, Cost Base |
All reports can be exported to PDF, spreadsheet, or Google Drive. See Exporting a report.
Share with your auditor
You can give your SMSF auditor or accountant read-only access to your Sharesight portfolio so they can run and export reports themselves. See Share your portfolio.
Further reading
Last updated 19th May 2026