Many of us find SMSFs attractive because they give us control over our money and, therefore, our retirement years. It might seem counter-intuitive to then seek advice on how to set up and run one, but this shouldn’t be seen as giving the control back. Rather, you’re simply ensuring you don’t trip over the numerous snags that exist within the SMSF world, tax returns being one of them.

Australia has one of the most complex taxation law systems in the world. Given that the regulations governing self-managed super funds are also complex, we always recommend our clients seek advice when it comes to their SMSF tax returns.

Ignorance is no defence, and your hard-won gains achieved through wise investing and diversifying with your SMSF can quickly be eroded by penalties from the ATO. At Pride Advice, we have knowledge and experience when it comes to tax. We have specialists who are always up to date with changing laws and can guarantee that your SMSF will be compliant.

Important SMSF tax return dates

31 October

  • For those doing their own returns and had an overdue return at 30 June.
  • For those doing their own returns and your last tax return was lodged late.
  • For those whose SMSFs were reviewed by the ATO upon registration and this is their first year,

28 February

  • For those who lodge their tax return through an agent and this is their first year.

If the due date falls on a weekend or a public holiday, you can lodge or pay on the next business day.