You can download the Self-managed superannuation fund annual return 2021 (NAT 71226).
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This instruction guide is not available in print or as a downloadable PDF document.
These instructions will help you complete the Self-managed superannuation fund annual return 2021 (SMSF annual return). However, they are not a guide to income tax or superannuation law. Seek help from us or a recognised tax adviser if these instructions do not fully cover your circumstances.
About the SMSF annual return
Your super fund must lodge a Self-managed superannuation fund annual return 2021 if it was:
- a self-managed superannuation fund on 30 June 2021, or
- a self-managed superannuation fund that was wound up during 2020–21.
Only self-managed superannuation funds (SMSFs) can use the Self-managed superannuation fund annual return 2021. Super funds that are not SMSFs at the end of 2020–21 must use the Fund income tax return 2021 and, where required, report contributions and member account balances separately.
Your SMSF must lodge an SMSF annual return even if it does not have a tax liability.
Information you report in your annual return does not affect your member’s transfer balance account. You must report transfer balance cap events such as your member starting or commuting a retirement phase income stream separately; see Event-based reporting for SMSFs.
Work through these SMSF annual return instructions from the start (section A) to the finish (section K).
- You must answer all mandatory questions.
- You must answer all questions which apply to your SMSF.
Leave the answer box blank for all other questions. If you leave the answer box blank, you will have specified a zero amount or that the question is not applicable to you.
Read the instructions for each question to find out:
- whether you need to complete the question
- the information you must provide.
If a question does not apply to your SMSF, move on to the next question.
The SMSF annual return is more than an income tax return. It has 11 sections, each described below.
You must complete at least six sections (A, C, D, (F and/or G), H and K). Complete the other sections only if they apply to your SMSF.
A: SMSF information: Complete this section for the SMSF; provide general and identifying information about the SMSF and its auditor.
B: Income: Complete this section if the SMSF has assessable income to report.
C: Deductions and non-deductible expenses: Complete this section for the SMSF; report all the SMSF's expenses, both deductible and non-deductible.
D: Income tax calculation statement: Complete this section for the SMSF to calculate the amount due or refundable to the SMSF.
E: Losses: Complete this section if the SMSF has tax or capital losses to carry forward to later income years.
Sections F and G: Member information and Supplementary member information: Complete either section F or section G (or both) for the SMSF. Report contributions and account balances for each of the SMSF's members:
- in section F, for those who had an account on 30 June 2021
- in section G, for those who left the SMSF during 2020–21.
H: Assets and liabilities: Complete this section for the SMSF. Report all of the SMSF's assets and liabilities at 30 June 2021.
I: Taxation of financial arrangements Complete this section if the taxation of financial arrangements provisions apply to the SMSF.
J: Other information Complete this section if the SMSF has made or is making a family trust election or an interposed entity election.
K: Declarations: Complete this section for the SMSF. Declare that you have met your obligations in relation to the SMSF annual return.