SMSF - Returns Due?

Discussion in 'Superannuation' started by hiho, Dec 28, 2011.

  1. hiho

    hiho Active Member Silver Stacker

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    Thought it might be a good ready reference for people not sure when they are required to lodge their returns

    31 October, 2011 SMSFs with outstanding prior year returns (unless a deferral is in place)
    28 February 2012 new SMSF registrants and self preparers
    15 May, 2012 other SMSFs using a tax agent for lodgement.
     
  2. thatguy

    thatguy Active Member

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    So I set up my SMSF this year, so 0 zip action before June 30 so for me is it 28th feb?? TIA
     
  3. hiho

    hiho Active Member Silver Stacker

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    yes I believe so, I am the same
     
  4. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    No action for you until you do your end of year return for 2011/2012 later in the year. You just keep doing your minutes and buying lots of PM's.

    28th of feb is for payment of the ATO's levy and submission of returns to the ATO by your accountant for the fiancial year 2010/2011
     
  5. hiho

    hiho Active Member Silver Stacker

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    Thanks for the response shiney

    I have clarified this with our auditor and you are correct to a point. For thatguy and myself no action is required until feb 28 2013, there is no reporting or fees at all.

    cheers
     
  6. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    And you'll do a return by 31 October 2012 before that.
     
  7. hiho

    hiho Active Member Silver Stacker

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    apparently not, becasue it is the first return, just reiterating what was told by auditor
     
  8. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    You sure?

    I started my SMSF in about May 2011.

    Had to do a return for the financial year 2010/2011 in October 2011.

    On reflection, 31st Oct may have been an esuperfund date for administrative purposes only.
     
  9. hiho

    hiho Active Member Silver Stacker

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    You had may and June of that financial year to report, but would have til Feb to report first return, l guess.the ultimate date to start a fund would be 1st July?
     
  10. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    Yep, 31st Of October was an administrative requirement from esuperfund in order for them to have time to get all the paperwork done, sent to me and back to the ATO by 28th Feb.

    Next year the return will not have to be sent to the ATO until mid May as it's not my SMSF's first return.

    Thanks for the clarification.

    Ultimate start date 1st July? How would you jag that date? :)
     
  11. hiho

    hiho Active Member Silver Stacker

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    Inaugurate your fund on the 1st July :D, only handy if you are independant SMSF judean front member
     
  12. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    F^&kin Judean f$#kin People's f#@kin Front?
    F^&kin Judean f$#kin People's f#@kin Front?

    SPLITTERS!!!!!!
     
  13. thatguy

    thatguy Active Member

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    setup before June 30, but no action before June 30 FWIW :)
     

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