If you are using a tax agent to lodge your SMSF Annual Return (SAR), know your lodgement date and engage early.
If your self-managed super fund (SMSF) had assets, such as super contributions or other investments as of 30 June 2024, you will need to lodge a SMSF annual return (SAR) for the 2023–24 financial year. The SAR is more than a tax return. It’s a requirement to report super regulatory information, member contributions, and pay the SMSF supervisory levy. Refer to the 2024 SAR instructions for information.
If your fund doesn’t have any assets, you need to either make a return not necessary (first year of establishment only), request or cancel your fund’s registration if you no longer wish to have an SMSF. If you have appointed BBB partners as your tax agent, this is something we can do on your behalf.
Failing to lodge your SAR on time can result in the compliance status of your SMSF on Super Fund Lookup External Link being changed to ‘regulation details removed’ which may prevent rollovers and employer contributions being made to the fund.
If you lodge your SAR through BBB Partners, you may have up to the 15 May to meet your lodgement obligation – we can confirm this if you are unsure of your lodgement date.
Make sure you provide us with all the information we need to lodge your return well before the due date. By contacting us and providing all your documentation early, we can ensure you lodge on time, as an extension may not be granted if you have not provided the information in a timely manner.
If you’ve engaged a new tax agent, you’ll need to nominate them to confirm they’re the authorised representative for the fund. For further guidance, see How to nominate your registered agent.
You must appoint an approved SMSF auditor no later than 45 days before you need to lodge your SMSF annual return.
BBB Partners organise this process as part of our service on your behalf. Before your SAR can be lodged, your SMSF’s audit must be finalised and the SAR must contain the correct auditor detail.
For more information, please contact your consultant or click below to chat with me.
Sheree Nitschke
SMSF Manager
