Consequences of late SMSF annual returns

January 13, 2020

The ATO is taking a firm stance on lodgement duties for SMSF trustees, introducing a new SMSF status if obligations have not been met.

 

SMSF’s that are overdue by two weeks on any annual returns and haven’t requested a deferral, will now have their status on Super Fund Lookup (SFLU) changed to ‘Regulation details removed’.

 

Introduced on 1 October 2019, the ATO is taking this approach where non-lodgement, combined with disengagement, indicates that the fund’s retirement savings could be at risk.  This status will remain until any overdue lodgements have been brought up to date.

Read Article

 

 

Please reload

Recent News:

August 28, 2020

Please reload

Liability limited by a Scheme approved under Professional Standards Legislation
Terms of Engagement | Privacy Policy

Copyright © 2015 Evans Edwards & Associates Pty Ltd  | ABN: 14 096 497 602 

452 Advice Pty Ltd | ABN 30 614 908 619

452 Advice Pty Ltd (trading as Evans Edwards Financial Advisors Wealth Creators) is a Corporate Authorised Representative (No.1261614) of Capstone Financial Planning Pty Ltd ABN 24 093 733 969. AFSL No. 223135. 

452 Finance Pty Ltd I ABN 24 629 999 373

Credit Representative Number 513542 of Centrepoint Alliance Lending Pty Ltd

ABN 40 100 947 804 I Australian Credit Licence 377711

74939008_Colour_Portrait.png
xero-gold-partner-badge-RGB.png