In an update, the ATO said for those who have a new SMSF or have missed previous years’ lodgements, the SMSF annual return (SAR) for 2024–25 is due by 31 October.
The ATO also urged trustees to contact a registered tax agent if they need help preparing their SMSF annual return, which also extends their deadline until 28 February 2026 to lodge their first return.
“However, some funds may still need to lodge by 31 October 2025, even with a tax agent so check your registration letter for details,” the Tax Office said.
“If your new fund had no assets in the first year it was registered you must either lodge a return not necessary form or cancel your SMSF registration if you no longer intend to operate the fund.”
Failure to lodge the SAR, which the ATO called the “most essential compliance obligation trustees must meet”, can result in the fund’s Super Fund Lookup status being changed to ‘regulation details removed’.
“This can restrict your SMSF from receiving rollovers and employer contributions, penalties can be applied and SMSF tax concessions can be lost,” the ATO said.
It also provided an outline of the duties an SMSF must complete each year:
- Prepare the fund’s accounts including valuing the fund’s assets
- Appoint an approved SMSF auditor at least 45 days before the lodgment due date
- Ensure the auditor has time to assess compliance and issue an independent report
- Address any issues identified by the auditor
- Lodge the annual return and pay any outstanding tax and the supervisory levy.
For new SMSFs, the supervisory levy is $518, which covers both the setup year and the following financial year.
