This week the ATO announced that it will extend the due date for lodgment of self-managed superannuation fund (SMSF) annual returns for 2015-16 to 30 June 2017.
Deputy Commissioner James O’Halloran said the ATO has made this decision as a result of feedback received from professional and industry representatives.
“We have heard that many accounting and advisory firms are stretched to meet their usual annual SMSF lodgment commitments, in addition to providing advice to their clients about the superannuation changes taking effect on 1 July,” Mr O’Halloran said.
“Accountants, tax agents and SMSF advisers play a key role in ensuring that their SMSF clients are ready for the changes on 1 July. They will ensure their clients are in the best position to make informed decisions about their superannuation savings in light of the changes.”
“Recognising this is a crucial transition period for the SMSF sector as we head towards the most significant superannuation reforms for several years, we have extended the lodgment due date for 2015-16 SMSF annual returns.”
“The ATO has taken this step to reduce some of the burden of compliance work so that accountants, tax agents and SMSF advisers can focus on providing appropriate advisory services to their SMSF clients ahead of the changes.”
“We acknowledge and appreciate the ongoing support tax professionals and SMSF advisers provide, especially at this important time for the sector and the broader superannuation industry.”
For more information about lodging SMSF annual tax returns, go here.
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