• Australian Prudential Regulatory Authority regulated superannuation funds

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    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

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    Superannuation funds that are regulated by APRA as at 30 June 2015 must use the Fund income tax return 2015 to lodge their tax return.

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

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    Self-managed superannuation funds

    Superannuation funds that are self-managed superannuation funds (SMSFs) under the Superannuation Industry (Supervision) Act 1993 (SISA) at any time during 2014–15 must use the Self-managed superannuation fund annual return 2015 to lodge information relating to income tax, regulatory and member contribution details. This includes an SMSF that was non-complying in 2014–15 or that was established or wound up during 2014–15.

    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 their services as a director of that company.

    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 or
    • 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.
    Last modified: 21 Aug 2015QC 44343