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Carey Group Quarterly Newsletter Jan 2025

When to lodge SMSF annual returns

If your SMSF had assets as of 30 June 2024, you’ll need to lodge an annual return (SAR) for the 2023/24 financial year. Deadlines vary, so check your lodgement date and ensure your audit is completed on time.

All trustees of SMSFs with assets (including super contributions or any other investments) as of 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, and member contributions, and pay the SMSF supervisory levy.

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

  • SMSFs with overdue SARs for prior financial years (excluding deferrals) should have lodged their SAR by 31 October 2024.
  • Newly registered 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 lodgement 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. Trustees should also allow 45 days prior to lodgement date for completion of the audit.

If you have any questions in relation to this article, please call our office on 07 4760 5900 or email info@careygroup.com.au

 

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