SMSFs must report certain events that affect a member’s transfer balance account (‘TBA’) quarterly using transfer balance account reporting (‘TBAR’).

These events must be reported even if the member’s total superannuation balance is less than $1 million.

Editor: TBA events include starting or commuting a retirement phase pension.

TBARs for the March quarter are due on 28 April 2025 and SMSFs that do not report on time may be subject to compliance action and penalties, and the member’s TBA may be adversely affected.

Note that SMSFs are not required to lodge if there were no TBA events during the quarter.

If you have any questions or would like to speak to one of our professional business and tax advisors, please contact our office on (08) 9392 7600 to make a booking or click here.

With three offices across Western Australia and over 20 years of experience, Acclaim Accounting is a dynamic team of highly trained and skilled individuals committed to providing innovative and effective advice, excellent service and maintaining only the highest standards in ethical professional practice.

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Exciting News! Muntz Partners is Rebranding to Acclaim Accounting

We are thrilled to announce that Muntz Partners is now known as Acclaim Accounting.

This change reflects our commitment to providing you with even better services and experiences.

Stay tuned for more updates as we embark on this exciting journey together!

Note: The change took effect on May 15th 2024.