If you’ve recently set up a self-managed super fund (SMSF), it’s important to be aware of your upcoming obligations.
Your first SMSF annual return (SAR) is due by 31 October 2025.
If you’re lodging the SAR for the first time and need help preparing, contact a registered tax agent as soon as possible. Doing so early may allow them to include your SMSF in their lodgment program, extending your due date to 28 February 2026.
However, not all funds qualify for this extension – check your SMSF registration letter to confirm your lodgment deadline.
If your SMSF didn’t hold any assets in its first year, you must either:
- Lodge a Return Not Necessary form, or
- Cancel your SMSF registration if you don’t plan to continue operating it.
Each year, SMSFs must:
- Prepare financial statements, including accurate asset valuations
- Appoint an approved SMSF auditor at least 45 days before lodgment
- Allow enough time for the auditor to assess compliance and issue an independent report
- Address any issues raised by the auditor
- Lodge the annual return and pay any tax and the supervisory levy
For new SMSFs, the supervisory levy is $518, covering both the year of establishment and the following year.
Staying on top of your obligations helps keep your SMSF compliant and avoids penalties. If you’re unsure where to begin, act early and seek support from a qualified SMSF professional.
