Is the SMSF Deed of Vesting to be done before the preparation of the financials for the year the SMSF is winding-up?

Yes. The Deed of Vesting should be prepared and executed, clearly stating the date on which the SMSF will be wound up and detailing the distribution of assets. After the Deed of Vesting is executed, the final financial statements for the SMSF can be prepared. These statements will reflect the winding-up process and the distribution of assets as specified in the Deed of Vesting. Once the financials are prepared, the final tax return and other necessary documentation can be lodged with the ATO.