News

Annual Returns for Newly Registered SMSFs

10/02/2010

SMSFs which were registered during the 2008/09 tax year must have their audit completed and their annual return lodged by 28 February 2010.

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What is the practical effect of this change?

10/02/2010

Newly registered SMSFs can still accept contributions and rollovers. They will still qualify as complying super funds retrospectively from the date of their establishment (assuming of course that they are registered within the required time, there are no serious contraventions of the SIS operating standards, and the annual return is lodged).

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Why has the change been made?

10/02/2010

The change has been made as part of the Government’s crackdown on illegal early release schemes.

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New Process for New SMSFs

10/02/2010

Newly registered SMSFs will soon be identified on the Super Lookup website as “registered status not determined” rather than “complying”.

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ATO gets tough on persistent non-lodgers

03/02/2010

The ATO is changing its attitude to SMSFs which are serial non-lodgers of their annual returns.

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