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  • Did you lodge your SMSF annual return on time?

    If your self-managed super fund (SMSF) is newly established or if you have missed previous years lodgments, your SMSF annual return (SAR) for 2020-21 was due by 31 October.

    If your SMSF is newly established, but are lodging through a tax agent, your SAR is not due yet.

    What happens if your SAR is overdue?

    If your SMSF's SAR is more than two weeks overdue and you have not contacted us, we will change the status of your SMSF on super fund lookup to 'regulation details removed'. This status will remain until your overdue lodgments are brought up to date.

    With a status of ‘regulation details removed', APRA funds will not be able to roll over member benefits and employers will not be able to make super guarantee payments for the fund's members.

    You'll also have to pay the supervisory levy. If you're a first-time lodger, it will be $518 which will cover the 2020–21 and 2021–22 financial years.

    You may also have to lodge a transfer balance account report with your SMSFs SAR if all the members of your SMSF have a total superannuation balance of less than $1 million.

    Need help?

    If you've not lodged yet and you're having difficulty preparing your return, contact us or talk to your registered tax agent about your options.

    If you need help, we encourage you, your tax agent or super professional to use the SMSF early engagement and voluntary disclosure service. We can work with you to get your affairs in order.

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      Last modified: 17 Nov 2021QC 67329