Self-managed superannuation fund annual return

The Self-managed superannuation fund annual return (NAT 71226) comprises your income tax reporting, regulatory reporting and member contributions reporting.

You should lodge the self-managed super fund (SMSF) annual return for the relevant year:

You need to make sure the return is completed in its entirety, including approved auditor details, otherwise your lodgment will be rejected.

From January 2010, the SMSF annual return cannot be processed if there are no assets in the fund, unless it is the fund's final return.

As SMSFs assess their own tax debt or refund, a notice of assessment will not be issued. The lodgment of the return is deemed to be an assessment.

Lodgment due date

Not all funds have the same lodgment due date. You should familiarise yourself with your fund's lodgment obligations.

Self-preparers

All funds with one or more returns outstanding as at 30 June are required to lodge by 31 October 2012 unless a deferral is in place (payment, if any, is due 1 December 2012).
Taxable large/medium business SMSF's as per latest year lodged are required to lodge by 15 January (payment is due 1 December 2012).
New entrants and all other self-preparing SMSFs are required to lodge by 28 February unless they are required to lodge earlier. Payment (if required) is also due on this date.

If the 2012 income tax return is not lodged by the due date, the 2013 return will be due by 31 October 2013.

Tax agent clients

All SMSFs with one or more returns outstanding at 31 October 2012 must lodge by 31 October 2012, unless a deferral is in place (payment, if any, is due 1 December 2012).
New registrant (taxable and non-taxable) SMSFs must lodge by 28 February 2013 unless they are required to lodge earlier (payment, if any, if also due on this date).
Taxable large/medium business SMSFs as per latest year lodged are required to lodge by 15 January (payment is due 1 December 2012).
SMSFs with total income in excess of $2 million in the latest year lodged (excluding large/medium business SMSFs) must lodge by 31 March 2013 (payment is also due on this date).
Other SMSFs (except those covered by the 5 June concession) must lodge by 15 May 2013. Payment, if any, is also due on this date.
The 5 June concession covers SMSFs that would otherwise have a 15 May date and which are non-taxable SMSFs, or SMSFs that are receiving a refund but were non-taxable or received a refund in the latest year lodged. Refer to Lodgment program 2012-13 - details of the program for more information.

For more information, refer to Super reporting and lodgment dates.

Voluntary disclosure

If you make a mistake in relation to information provided in your SMSF annual return, you may wish to make a voluntary disclosure.

To make a voluntary disclosure, you should lodge an amended SMSF annual return. However, if the incorrect information previously provided in your fund's annual return relates only to the regulatory information section, you can notify us in writing.

For more information, refer to Voluntary disclosures - approved form.

Amending the SMSF annual return

To amend your SMSF annual return, which is an approved form, you should resubmit the whole return. Make sure you tick 'yes' in section A at question 5.

If you have access to the Tax Agent Portal, you can lodge an amendment request through the portal by providing a full SMSF annual return. All other amendments must be requested by using the paper SMSF annual return form.

The Self-managed superannuation fund annual return instructions (NAT 71606) can assist you to complete the SMSF annual return.

To access the instructions for the relevant year, refer to Self-managed superannuation fund annual return instructions (NAT 71606).

Also refer to Completing the self managed super fund annual return. The information highlights some of the more common reporting errors encountered during our compliance activities.

Last Modified: Tuesday, 11 September 2012