SMSF Annual Return Obligations

All self managed super funds are required to lodge an annual return with the Australian Taxation Office (ATO) after the fund has been audited.

SMSF Annual Return

The annual return is a combined reporting form including both the tax return and the regulatory return required for the fund each year. As a general guide lodgement with the ATO is required by:

31 October
SMSF’s with one or more prior year returns outstanding at 30 June of the financial year
28 February
New SMSF’s – unless new and not operational. See below
31 March
SMSF’s with income in excess of $2 million in last return lodged
15 May
All other SMSF’s
05 June
SMSF’s which are non- taxable for both last year and for the current year

Supervisory Levy

Each fund is required to pay an annual supervisory levy to the regulator of the fund. For SMSF’s this is the ATO. This amount used to be levied as a separate amount for the fund to pay but since the 2008 Return the levy has been included in the tax payable calculation for the fund.

New SMSF but not Operational

If a fund was established by signing of the trust deed and registering with the ATO but did not actually operate then an exemption to lodge may be available.

Not operating means that no contributions or rollover amounts were received and so there was not money held for members or investments made.

The ATO will allow a return not necessary to be reported for the first year by your tax agent if the following conditions all apply:

  1. the fund was registered late in the year either April, May or June
  2. the fund was not operating by 30 June
  3. the fund did not receive any contributions or rollover amounts

If you meet these conditions you won’t need to lodge an SMSF Annual Return or pay the supervisory levy of $180.00.

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