Section J and K: Other information and declarations

Section J: Other information

Complete this section if the SMSF has made or is making a family trust election or an interposed entity election.

Making an election

Has the SMSF made or is it making:

• a family trust election (FTE) or
• an interposed entity election (IEE)?

If you answer:

• No – Leave section label J blank. Go to Section K.
• Yes – Read on.

Family trust election (FTE) status

In this section, complete labels:

Year of family trust election

Have the trustees of the SMSF made, or are they making, an FTE?

• No – Go to label B.
• Yes – Read on.

Complete label A if the trustees of the SMSF:

• are making an FTE specifying the 2004–05 or later income year (see Section 272-80 of Schedule 2F to the ITAA 1936), or
• have previously made an FTE specifying an income year from 1994–95 to 2018–19 and that election hasn't been revoked in an income year before 2024–25 (see Section 272-80 of Schedule 2F to the ITAA 1936 and, if applicable, item 22 or 22A of Schedule 1 to the Taxation Laws Amendment (Trust Loss and Other Deductions) Act 1998).

If the trustees of the SMSF have made, or are making, an FTE, write at label A the income year from which that election takes effect – for example, if making an FTE to apply to and from 2024–25, write ‘2025’.

Provided certain conditions are met, a trustee can make an FTE to take effect from 2024–25 or to take effect from a prior income year, although that prior income year can't be earlier than 2004–05. Trustees may, however, have previously made an FTE that took effect prior to 2004–05.

If the trustees are making an FTE, complete a Family trust election, revocation or variation 2025 form. Attach the completed form to the annual return.

Revoking or varying an FTE

Are the trustees of the SMSF revoking or varying an FTE?

• No – Go to label C.
• Yes – Read on.

Complete label B if the trustees of the SMSF:

• are revoking in 2024–25 a previously made FTE (see subsections 272-80(6) to (8) of Schedule 2F to the ITAA 1936), or
• are varying the specified individual of a previously made FTE (see subsections 272-80 (5A) to (5D) and (6B) to (8) of Schedule 2F to the ITAA 1936).

Print at label B the appropriate code from Table 13.

Table 13 – FTE revocation or variation codes

Code letter	Meaning
R	The FTE made by the trustee of the SMSF is being revoked in 2024–25.
V	The specified individual of an FTE is being varied from a time in 2024–25.

In certain limited circumstances an SMSF may revoke the FTE, or vary the FTE, so that a different individual is specified as the individual whose family group is taken into account for the election.

A trustee can't vary the specified individual or revoke an FTE unless the variation or revocation is in respect of an income year that occurs during the period:

• starting at the beginning of the income year specified in the election and finishing at the end of the fourth income year after the income year specified in the election
• starting on 1 July 2007 and finishing on 30 June 2009.

The trustee may only vary the specified individual of an FTE once, except where doing so under subsection 272-80(5C) of Schedule 2F to the ITAA 1936 for a relevant family law order, agreement or award.

The trustee must make the variation or revocation of an election with the annual return for the income year from which the variation or revocation is to take effect.

Accordingly when revoking an FTE or varying the specified individual of an FTE in 2024–25, you must attach a Family trust election, revocation or variation 2025 to the SMSF’s annual return.

If you don't lodge the annual return electronically using PLS, and you are lodging a Family trust election, revocation or variation 2025 with the annual return, send the annual return and the attachments to:

Australian Taxation Office
GPO Box 9845
IN YOUR CAPITAL CITY

Interposed entity election status

In this section, complete labels:

Year of interposed entity election (IEE)

Have the trustees of the SMSF made, or are they making, an IEE?

• No – Go to label D.
• Yes – Read on.

Complete label C if the trustees of the SMSF:

• are making one or more interposed entity elections (IEEs) specifying a day in the 2004–05 or a later income year (see Section 272-85 of Schedule 2F to the ITAA 1936), or
• have previously made one or more IEEs specifying a day in any income year from 1994–95 to 2022–2023 and at least one election hasn't been revoked in an income year before 2024–25 (see Section 272-85 of Schedule 2F to the ITAA 1936 and, if applicable, item 23 or 23A of Schedule 1 to the Taxation Laws Amendment (Trust Loss and Other Deductions) Act 1998).

If the trustees are making one or more IEEs specifying a day in the 2004–05 or later income year:

• write at label C the earliest income year specified
• complete an Interposed entity election or revocation 2025 for each IEE. Attach the completed forms to the annual return.

If the trustees aren't making an IEE but have previously made one or more IEEs specifying a day in an income year before 2024–25, write the earliest income year specified at label C.

Provided certain conditions are met, a trustee can make an IEE:

• to take effect after a specified day in 2024–25
• to take effect after a specified day in a prior income year not earlier than 2004–05.

Don't attach an election form to the annual return specifying an income year before 2004–05. However, trustees may have previously made one or more IEEs that took effect after a specified day in an income year prior to 2004–05.

Revoking an IEE

Are the trustees of the SMSF revoking an IEE?

• No – Go to Section K.
• Yes – Read on.

Print R at label D if the trustees of the SMSF are revoking, from 2024–25, one or more previously made IEEs.

An IEE can be revoked in certain limited circumstances (see subsections 272-85(5A) to (6) of Schedule 2F to the ITAA 1936).

A trustee can't revoke an IEE unless the revocation is about an income year that occurs during the period either:

• beginning on 1 July 2007 and finishing on 30 June 2009, or
• beginning at the later of  
  • the start of the income year specified in the election, and
  • the start of the income year in which the entity became a member of the family group, and
• finishing at the end of the fourth income year after the income year referred to in the above 2 points.

You must make the revocation with the annual return for the income year from which the revocation is to take effect. Accordingly, you must attach an Interposed entity election or revocation 2025 to the SMSF’s annual return.

If you aren't lodging the annual return electronically using PLS and you are lodging an Interposed entity election or revocation 2025 form with the annual return, send the annual return and the attachments to:

Australian Taxation Office
GPO Box 9845
IN YOUR CAPITAL CITY

 

 

Section K: Declarations

Complete this section to declare that you have met your obligations in relation to the SMSF annual return.

Trustee’s or director’s of the corporate trustee declaration

All trustees, or all directors of the body corporate if the SMSF has a corporate trustee, are equally responsible and accountable for managing the SMSF and making sure it complies with the law.

Signing this declaration confirms that:

• the information supplied is true
• all trustees, and all directors of the body corporate if the SMSF has a corporate trustee, have authorised this annual return.

All trustees of the SMSF, and all directors of the body corporate if the SMSF has a corporate trustee, should:

• authorise the annual return
• document their authorisation in the SMSF’s records
• review the audit undertaken on the SMSF before they authorise the annual return.

We may impose penalties for providing false or misleading information. The penalty can apply to shortfall amounts and to statements that don't result in a change in a tax liability.

Preferred trustee or director of the corporate trustee contact details

Write the name and contact details of the individual (not the tax agent) that we can contact if required.

Provide a contact phone number including area code.

Non-individual trustee name (if applicable)

Write the name and ABN of the corporate trustee, referred to here as non-individual trustee, if the SMSF has one.

Time taken to prepare and complete this annual return

We want to reduce the cost of complying with the SMSF’s taxation and regulatory obligations. Your response to this question is voluntary.

When completing this annual return, how much time, rounded up to the nearest hour, did you spend:

• reading the annual return instructions
• collecting the necessary information to complete this annual return
• making the necessary calculations
• completing this annual return or putting the tax affairs of the SMSF in order so the information can be handed to the SMSF’s registered tax agent?

Include the time spent preparing and completing the annual return by:

• the trustee
• the tax agent
• any other person who helped.

Tax agent’s declaration

If the tax agent is a partnership or a company, a person authorised by that partnership or company must sign this declaration. Write that person’s name at this question.

Tax agent’s contact details

Write the tax agent's title, name, phone number, area code and:

• the name of the tax agent’s practice under Tax agent’s practice
• the client number that the tax agent has allocated to the SMSF under Reference number
• the number that the Tax Practitioners Board has issued to the tax agent under Tax agent number.

Continue to: Appendixes for the SMSF annual return

Return to: Instructions to complete your SMSF annual return 2025