Deferral of lodgment date for SMSF annual returns
Added on by Etairos Accounting
The ATO has deferred the due date for lodgment of self-managed superannuation fund (SMSF) annual returns for the 2016–17 financial year. The new deadline for lodgement of these returns is now 30 June 2018.
Commenting on the announcement, Deputy Commissioner James O'Halloran said: "Recognising the crucial considerations and decisions that SMSFs and their advisers need to make in this first year, we have sought to reduce some of the burden of SMSF compliance work by extending the due date for 2016–17 SMSF annual returns. "The extended lodgement timeframe also means that all SMSFs who are eligible for transitional CGT relief as a result of the $1.6 million transfer balance cap will have additional time to consider and make relevant elections before the due date for lodgment of their 2016–17 SMSF annual return."
As the deferred due date of 30 June 2018 falls on a Saturday, lodgment of the 2016–17 SMSF annual returns can be made on the next business day, Monday, 2 July, without penalty.
(Source: ATO)