Our ATO updates blog provides key tax updates and regulatory changes. Stay informed with the latest insights to ensure compliance and informed decision-making.
Know when your SMSF Annual Return is due
Not all SMSFs have the same SMSF Annual Return (SAR) lodgment due date. Some SMSFs’ SARs are due 28 February 2025.
If your SMSF had assets, such as super contributions or other investments, as of 30 June 2024, you will need to lodge a SMSF Annual Return for the 2023–24 financial year. The SAR is more than a tax return. It is required to report super regulatory information, member contributions and pay the SMSF supervisory levy.
However, not all SMSFs have the same lodgment due date.
Newly registered SMSFs and SMSFs with overdue SARs for prior financial years (excluding deferrals) should have lodged by 31 October 2024.
All other self-preparing SMSFs (unless the ATO asked you to lodge on a different date) need to lodge their SAR by 28 February 2025.
If your SAR is lodged through a tax agent, they’ll provide the due date for lodgment (generally 15 May or 6 June 2025).
You should refer to the 2024 SAR instructions or contact a registered tax professional as soon as possible if you need help lodging your SAR.
If you have engaged a new tax agent, you will need to nominate them to confirm they’re the authorised representative for the fund. See the ATO’s How to nominate your registered agent for step-by-step instructions on how to do this.
You must appoint an approved SMSF auditor no later than 45 days before you need to lodge your SAR. Before you lodge, you must ensure that your SMSF’s audit has been finalised and the SAR contains the correct auditor details.
When lodging your SAR, the ATO encourage you to report your Australian Business Number (ABN) so the ATO systems match your members correctly.
If your fund doesn’t have any assets, you need to either make a return not necessary request or cancel your fund’s registration if you no longer wish to have a SMSF.
Failing to lodge your SAR on time can result in the compliance status of your SMSF on Super Fund Lookup being changed to ‘regulation details removed’ which may prevent rollovers and employer contributions being made to the fund.
Source: Australian Taxation Office
