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Completing and lodging the tax return

Last updated 2 October 2019

You must answer all questions that apply to you, or are mandatory, or require a yes or no answer.

Where a question is not mandatory and does not apply to you, leave the answer box blank.

Where a question requires a yes or no answer, print X in the relevant box.

Print neatly in BLOCK LETTERS, using a black pen.

Print one character per box and do not write outside the boxes provided.

Do not use correction fluid or tape. If you make an error on the tax return you will need to get a new tax return and start again.

You may photocopy the tax return for the fund’s records, but you must send us the original.

Australian Prudential Regulation Authority regulated superannuation funds

Superannuation funds that were regulated by APRA at any time during the income year ending 30 June 2019 must use the Fund income tax return 2019 to lodge their tax return.

For the types of funds regulated by APRA, see table 1.

Self-managed superannuation funds

Superannuation funds that are self-managed superannuation funds (SMSFs) under the Superannuation Industry (Supervision) Act 1993 (SISA) at 30 June 2019 must use the Self-managed superannuation fund annual return 2019 to lodge information relating to income tax, regulatory and member contribution details. This includes an SMSF that was non-complying in 2018–19 or that was established or wound up during 2018–19.

Generally a superannuation fund with more than one member is an SMSF if:

  • the fund has two to four members
  • no member of the fund is an employee of another member of the fund unless they are related
  • each member of the fund is a trustee and each trustee is a member of the fund, and
  • no trustee of the fund receives any remuneration for their services as a trustee of the fund.

Alternatively, a superannuation fund that has more than one member and a company as the trustee (known as a corporate trustee) is an SMSF if:

  • the fund has two to four members
  • each member of the fund is a director of the company and each director of the company is a member of the fund
  • no member of the fund is an employee of another member of the fund unless they are related
  • the company does not receive any remuneration for its services as a trustee, and
  • no director of the company receives any remuneration for the services performed as a director in relation to the fund.

A superannuation fund with only one member is an SMSF if:

  • the member of the fund is a trustee and there is a second trustee who is either a relative of the member or is not the member's employer

  • a company is the trustee of the fund and the member is the sole director of the company or there is a second director of the company and that other director is a relative of the member or is not the member's employer, and
  • no remuneration is received by a trustee or director for their services to the fund.

Lodging the tax return, schedules and other documents

The only postal address for lodgment of this tax return is:

Australian Taxation Office
GPO Box 9845

The address must appear as shown above.

You send with the tax return only the following schedules if required:

You may have to complete other schedules or documents which you keep with your fund's tax records and do not send with the tax return. These schedules or documents are described further at Record keeping requirements.

If you do not lodge the schedule with the income tax return, you are required to sign and date the schedule as required.

Lodgment due date

The requirement to lodge a tax return, the due date, and the acceptable method for lodging the return, statements and schedules are set out in the legislative instrument for the lodgment of returns, which is registered on the Federal Register of Legislation at Link.

For funds with an income year ending on 30 June 2019, the due date for lodgment is 31 October 2019. The Commissioner may allow later lodgment dates that are published on funds.

If the fund has a substituted accounting period, sell also Substituted accounting periods.

If you do not lodge the fund’s tax return along with all the required information and schedules by the due date, a penalty for failing to lodge on time may apply. A general interest charge (GIC) will begin to accrue from the due date for payment on any amount that is due until the amount is paid in full. See Penalties and interest charges.

You must also keep records so that, if required, we can verify the information you reported on the tax return; see Record keeping requirements.

Do not attach any payments to the tax return; see Payment.

Penalties and interest charges

The law imposes penalties on the trustee of a fund for:

  • failing to lodge the tax return on time and in the approved form
  • having a shortfall amount for underreporting a liability or over-claiming a credit that is caused by taking a position that is not reasonably arguable
  • making a false or misleading statement about a tax-related matter even if there is no shortfall amount
  • failing to provide a tax return from which the Commissioner of Taxation can determine a liability
  • obtaining a scheme benefit.

Knowingly answering a question incorrectly will result in a higher penalty than answering carelessly. Fund trustees have ultimate responsibility for the fund, regardless of whether or not the trustees use professional services such as administration providers, tax agents or other financial advisers.

False or misleading statement penalties will not apply if:

  • the trustees of the fund (and their agent if applicable) made a mistake and they took reasonable care in connection with making the statement, or
  • the trustees of the fund gave their registered tax agent all relevant taxation information and the agent makes a false or misleading statement due to a lack of reasonable care by the agent.

The trustee of a fund is liable for general interest charge (GIC) if:

  • tax, penalties or shortfall interest charges (SIC) remain unpaid after the due date for payment, or
  • a variation of a pay as you go (PAYG) instalment rate or amount is less than 85% of the rate or amount that would have covered the fund’s actual liability for the year.

The trustee of a fund is liable for the SIC if the fund’s income tax assessment is amended to increase their liability. Generally, the SIC accrues on the extra tax payable from the due date of the original assessment until the day before the assessment is amended.

Part year or approved substitute period

If the tax return is for part of an income year, show the dates for that period.

If, with the leave of the Commissioner, a fund adopts an accounting period being the twelve months ending on some date other than 30 June, show the dates for the approved substitute period.