Getting started
If you’ve recently set up an SMSF, staying on top of your lodgment and reporting obligations is important.
Your first SMSF annual return (SAR) is due by 31 October 2026. If you’re working with a registered tax agent, it’s a good idea to contact them early. They may be able to include you in their lodgment program, which could extend your due date to 28 February 2026.
Keep in mind, though, that some funds may still need to lodge by 31 October 2026, even with a tax agent. So, check your registration letter to confirm your specific due date.
Here's some tips to help get you started:
If your new fund had no assets
If you've set up you fund prior to 30 June but your SMSF had no assets in its first year, you can either:
- lodge a return not necessary form, or
- cancel your SMSF registration if you no longer plan to operate the fund
Your ongoing responsibilities
Now you have set up you SMSF each as a trustee each year you responsible for:
- preparing the fund’s accounts, including valuing assets
- appointing an approved SMSF auditor at least 45 days before your due date
- giving your auditor enough time to complete their review
- addressing any compliance issues raised by the auditor
- lodging your annual return and paying any tax and the supervisory levy.
Supervisory levy
You will also need to pay your supervisory levy which for new SMSFs is $518. This covers both the establishment year and the following financial year.
Staying on track
Getting things organised early can help keep your fund compliant and avoid penalties. If you’re unsure about anything, professional advice can make things easier.
To learn more, visit:
You can also explore our interactive online learning modulesExternal Link to build your SMSF knowledge and confidence.
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