• Section B: Fund information

    Attention

    Warning:

    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

    End of attention

    This section allows the trustee to advise us on some governance issues and whether they have chosen to not apply the transitional rules.

    7. Did the fund use a cash or accruals basis?

    Show an X in the appropriate box.

    This return may be completed on either a cash or accruals basis.

    8. Does the trustee have an audit report and supporting financial statements which can be supplied upon request?

    Show an X in the appropriate box.

    Each financial year the trustee must arrange for an auditor to audit:

    • the financial statements of the fund
    • compliance with the PAF guidelines by the fund and the trustee.

    The audit must be finalised before the fund is required to lodge the return.

    Further Information

    For more information refer to PAF guidelines 28, 29 and 48.

    End of further information

    9. If the fund was formerly a prescribed private fund did the fund choose, during the 2009-2010 financial year, to not apply the transitional distribution rules?

    Show an X in the applicable box.

    A choice by a former PPF to not apply the transitional distribution rules must have been made before they lodge the return.

    Further Information

    For more information refer to PAF guidelines 52, 53, 54 and 55

    End of further information
    Last modified: 01 Nov 2010QC 23525