All trustees of SMSFs with assets (including super contributions or any other investments) as at 30 June 2024 need to lodge an SMSF annual return (‘SAR’) for the 2023/24 financial year.

The SAR is more than a tax return — it is required to report super regulatory information, member contributions, and pay the SMSF supervisory levy.

However, not all SMSFs have the same lodgment due date:

–Newly registered SMSFs and SMSFs with overdue SARs for prior financial years (excluding deferrals) should have lodgedtheir SAR by 31 October 2024.

–All other self-preparing SMSFs need to lodge their SAR by 28 February 2025 (unless the ATO has asked them to lodge on a different date).

– For SMSFs that lodge through a tax agent, the due date for lodgment of their SAR is generally 15 May or 6 June 2025. SMSFs that have engaged a new tax agent need to nominate them to confirm they are the authorised representative for the fund.

SMSF trustees must appoint an approved SMSF auditor no later than 45 days before they need to lodge their SAR. Before they lodge, they must ensure that their SMSF’s audit has been finalised and the SAR contains the correct auditor details.

Editor: If you need assistance with these or any other SMSF issues, please contact our office.

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