How do I change my SMSF Accountant?
The system is designed to make it very easy for trustees to change their SMSF accountant by simply nominating a new SMSF tax agent with the ATO and providing the fund’s permanent records and financial records to your new SMSF accountant.
Funds choose to change accountants for all sorts of reasons including change of needs, retirement of previous providers and when the value proposition changes and they are looking for different Annual SMSF Pricing. We onboard hundreds of new funds every year who decide that they would prefer to deal with a niche SMSF Specialist provider who they can speak with over the phone and get the support they need.
Adding a new Tax Agent to your SMSF
When changing SMSF accountants, it is critical to nominate a new registered tax agent. This is generally done online, but if you are unable to do this, you can contact the ATO for assistance on 13 28 66.
The process is referred to as client-to-agent linking, which is undertaken to ensure that personal information is secure, to protect your SMSF from identity fraud and theft, and to limit access to the fund’s tax matters to your nominated tax agent.
How to nominate your SMSF’s new Tax Agent
To nominate a new tax agent, the fund’s accountant can assist with the process, but the SMSF trustee must complete the nomination online.
- Use myID to log in to Online Services for Business to start the nomination process.
Otherwise, set up your myID and link it to the fund’s ABN. - Obtain the agent’s registered agent number
- Complete the form
- The agent has 28 days to add your SMSF to their client list from the date you nominated them – you must let your agent know they have been nominated– your agent does not receive an automated notification
- You can use the Extend feature, which will add 28 days to your nomination from the day you use the feature after submitting a nomination.
For example, Fred’s SMSF nominated Billy Bob Accountants as the fund’s new tax agent on 12 July 2025. Fred advised Billy Bob of the nomination on 8 August 2025. Billy Bob needed more time to add the fund to his tax agent listing, and Fred used the Extend function to obtain another 28 days effective from 9 August 2025.
SMSF Australia are more than happy to help you with this process. Just give us a call, use our contact form or feel free to use zoom and we can take you through the process.
Setting up a new SMSF – Is the process different when adding a Tax Agent for the first time?
Yes, a new SMSF Setup does not need to follow the client-to-agent-linking process. The fund’s tax agent representative can be linked when a new fund registers for an ABN.
What can my SMSF’s nominated tax agent access?
An agent, who is authorised to access the income tax account, is automatically given full access to the activity statements and payroll account and can:
- view and update the fund’s registration details, such as postal address and bank account details, to pay and receive refunds for activity statements and annual returns
- prepare, lodge, view, and print activity statements, including BAS returns – the activity statement is generally lodged through the accountant’s software
- prepare, lodge, view and print SMSF annual return (tax return)– the annual return is generally lodged through the tax agent’s software
- view income tax lodgements and activity statements lodgement history, including outstanding returns
- register or deregister the fund in relation to BAS returns or other activity statements
- request refunds and credit transfers, and communicate with the ATO on a number of other matters
- print payment slips and also make and view payment plans if required
Transferring to SMSF Australia
At SMSF Australia, we employ specialist superannuation accountants to deliver a professional, efficient, and cost-effective SMSF compliance service. Our team includes SMSF accountants and lawyers who focus on automation systems and have developed our own toolkit on top of the Class Super platform. Our fees are all inclusive also covering the services of an independent SMSF auditor, ASF Audits, who are one of the largest SMSF audit firms in Australia completing over 59,000 SMSF audits per year.
Our annual compliance fees provide certainty and transparency. They include accounting, ASF audit fees and class super platform fees. There are no surprises, and we let you know in advance if we believe your fund should be classified as basic, complex, or very complex, with fees ranging from $1,300 plus GST for basic to over $2,000 plus GST for very complex funds. 99% of funds fall within the basic-to-complex administration spectrum so a cost of $1,300-$1,600 per annum. Note when comparing pricing that most accounting firms charge audit fees in addition to the annual administration fee. We do not.
Our process is highly automated, avoiding mistakes when transferring the historical cost base of existing SMSF assets and proving very efficient for funds with large portfolios of shares and managed funds. We implement as much automation as possible to obtain direct feeds from banks and brokers, enabling us to provide efficient, accurate service. If all of the fund’s records are online It can take less than a week to complete the transfer process.
We are required by our professional body to send an ethical letter regarding a new engagement to the fund’s previous accountant, informing them that you have approached us to act as the accountant and tax agent for your SMSF, and asking if they are aware of any professional or ethical reasons that might prevent us from accepting the new engagement.
We will then contact your previous SMSF accountant on your behalf to gather the fund’s permanent and compliance documentation, so you don’t have to. We will attach an authority from you that authorises SMSF Australia to request information, including the previous year’s financial statements, tax return, relevant workpapers, permanent records, and other related documents.