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  • Paying the supervisory levy – it is an annual requirement

    All self-managed superannuation funds (SMSF) are required to pay the supervisory levy along with the lodgment of their SMSF annual return (SAR). The levy is currently $259 per year and is payable one year in advance.

    The levy is payable for every year your fund is registered, even if your SMSF has no tax liability in that year. The annual levy is the same for all SMSFs, however, as the levy is paid in advance, SMSFs who are lodging their first SAR, or are winding up and lodging their final SAR, may have a different amount to pay

    • If your SMSF is continuing to operate into 2020–21 and it was registered in
      • 2019–20, you need to pay for both 2019–20 and 2020–21
      • an earlier year, you need to pay for only 2020–21.
    • If your SMSF wound up in 2019–20 and it was registered in
      • 2019–20, you need to pay for only 2019–20
      • an earlier year, you do not have anything to pay.

    As the levy amount is pre-populated on the SAR, most funds don't have to do anything other than pay the levy. However, if you have a newly registered fund, or your fund is winding up, you will need to make an adjustment on the SAR to determine the amount to pay. Guidance on completing these labels is available in the 2020 SAR instructions.

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      Last modified: 18 Sep 2020QC 63710