SMSF News - edition 20

Reporting regulatory information in the SMSF annual return

When completing the regulatory information (section J) in the annual return, read each question carefully before answering 'yes' or 'no'. In most situations, your responses to these questions should align with those provided by the approved auditor in their audit report.

Pay attention to labels G (arm's-length investments) and M (separation of assets), as some trustees have incorrectly reported issues in the past.

Misreported responses could lead to unnecessary compliance activity from the ATO.