Before you start
The SMSF annual return is more than an income tax return. It has 11 sections. You must complete at least 6 sections (A, C, D, (F and/or G), H and K). Complete the other sections only if they apply to your SMSF.
You must complete every item in section A. This section asks you to provide information about the SMSF, including its current status and details from its annual auditor's report.
1 Tax file number (TFN)
Write the TFN of the SMSF in the boxes at item 1 and in the boxes at the top of the form on pages 3, 5, 7 and 9.
We are authorised by the Taxation Administration Act 1953 to request the SMSF’s TFN. We will use it to identify the SMSF in our records. It is not an offence not to provide this TFN. However, if you do not provide the TFN, there may be a delay in processing the SMSF’s annual return. For more information about privacy and TFNs, see Your privacy.
2 Name of self-managed superannuation fund (SMSF)
Print the current name of the SMSF exactly as it appears on the SMSF’s trust deed or equivalent document at item 2.
The name of the SMSF should be the same as in past years unless the SMSF has changed its name. If the name of the SMSF is legally changed, you must notify us of the change within 28 days.
3 Australian business number (ABN)
If the SMSF has an ABN write it in the boxes at item 3. Providing the SMSF ABN ensures account details for the SMSF are displayed for the member when they access ATO online services.
If the SMSF does not have an ABN, leave the boxes blank. We recommend that you apply for an ABN at the Australian Business RegisterExternal Link.
The ABN is a unique business identifier used in dealings with the Australian Government. It is also available to state, territory and local government regulatory bodies. Identification for tax law purposes is only one of the uses of the ABN. For more information about privacy and ABNs, see the ABR Privacy statementExternal Link.
4 Current postal address
Print the current postal address of the SMSF at item 4.
We will use this address to send correspondence.
Abbreviate ‘care of’ to ‘C/-’ only.
5 Annual return status
Answer the 2 questions at item 5:
A – Is this an amendment to the SMSF's 2023 annual return?
Print X in the appropriate box, either No or Yes at item 5 – label A.
If you are lodging an amended annual return, you must complete and lodge the entire annual return. Do not lodge only the changed information, see Amending an SMSF annual return.
B – Is this the first required return for a newly registered SMSF?
Print X in the appropriate box, either No or Yes at item 5 – label B.
If you are lodging, or amending, an SMSF’s first annual return, you must complete item 13 – label N Supervisory levy adjustment for new funds in Section D: Income tax calculation statement.
6 SMSF auditor
SMSFs must be audited every income year. The auditor must be registered as an SMSF auditor with the Australian Securities & Investments CommissionExternal Link (ASIC). Check that your auditor is registered.
Your auditor must provide you and any other trustee of your fund with a completed and signed Self-managed superannuation fund independent auditor’s report before you can lodge this annual return. The details that you need to complete this item are available from that report.
Auditor’s name
Print X in the appropriate box for the title of the auditor, or print a different title in the Other box.
Print, in the boxes provided, the auditor's:
- family name and given names
- SMSF auditor number (SAN)
- phone number – 10-digits
- postal address – including suburb or town, state and postcode.
A Date audit was completed
Write at label A the date the audit was completed.
B Was Part A of the audit report qualified?
SMSF trustees may be penalised for making a false or misleading statement.
You will need to check if the auditor has qualified Part A: Financial audit of the SMSF independent auditor's report.
Print X in the appropriate box, either No or Yes at label B.
Answer No if:
- the audit report was not qualified, or
- the audit report was only qualified in relation to insufficient audit evidence under Auditing Standard ASA 510 Initial Audit Engagements – Opening Balance.
Answer Yes if the audit report was qualified.
C Was Part B of the audit report qualified?
SMSF trustees may be penalised for making a false or misleading statement.
You will need to check if the auditor has qualified Part B: Compliance engagement of the SMSF independent auditor's report.
Print X in the appropriate box, either No or Yes at label C.
If you answer No, go to 7 Electronic funds transfer (EFT).
D If Part B of the audit report was qualified, have the reported issues been rectified?
Print X in the appropriate box, either No or Yes at label D.
7 Electronic funds transfer (EFT)
You must provide the SMSF's bank account details at label A, even if you have given them to us previously.
Do not provide a tax agent's financial institution account details at label A.
Providing a trustee's personal account details, instead of the SMSF's bank account details, may result in improper early access to super benefits. This is illegal. If a benefit is unlawfully released, we may apply significant penalties to the SMSF and the recipient of the benefits.
A Fund's financial institution account details
Write at label A the details of the SMSF’s account with a financial institution. We will make super payments to this account.
We will also pay tax refunds to this account if you do not complete label B.
We need your financial institution details to pay any refund owing to you, even if you have provided them before, including:
- SMSF’s Bank State Branch (BSB) number (6 digits, do not include spaces or hyphens)
- SMSF’s account number (no more than 9 digits, do not include spaces or hyphens)
- SMSF’s account name – for example, SMSF C. The account name must not exceed 64 characters, including spaces. To keep within the 64 character limit, you may abbreviate the full name of the SMSF (for example, by using ‘ATF’ instead of ‘as trustee for’ or 'Super Fund' or ‘SF’ instead of ‘Superannuation Fund’). If the SMSF's bank (or similar financial institution) account name has more than 64 characters, provide the first 64 characters only.
Your refund can only be paid into a recognised Australian financial institution account.
Do you want to use the SMSF bank account to receive both super contributions and rollovers, and tax refunds?
|
Yes |
Print X in the 'I would like my tax refunds made into this account' box. Go to label C. |
|
No |
Write at label B the details of the bank account to which we will pay refunds. |
B Financial institution details for tax refunds
If you would like your tax refunds made to a different account than that recorded at label A, write at label B the details of the bank account that you want us to pay tax refunds to.
You can provide tax agent financial institution details at label B. Do not add tax agent financial institution details into label A.
Write the financial institution details in the boxes, include:
- Bank State Branch (BSB) number (6 digits, do not include spaces or hyphens)
- Account number (no more than 9 digits, do not include spaces or hyphens)
- Account name. The account name must not exceed 64 characters, including spaces. If the financial institution) account name has more than 64 characters, provide the first 64 characters only.
C Electronic service address alias
Write at label C your active electronic service address (ESA).
An ESA alias consists of a maximum of 16 alphanumeric characters with a combination of upper and lower case characters. For example, SMSFdataESAAlias.
SMSFs that receive employer contributions (other than from an employer that is a related-party) or rollovers from other super funds must have an active ESA alias registered with an SMSF messaging service.
This enables electronic remittance advice, contribution and rollover messages to be sent to your SMSF when:
- non-related employers make super contribution payments
- the ATO transfers super entitlements such as government contributions or unclaimed monies
- super funds rollover super monies (in part and in full) to your SMSF.
If you have received, or expect to receive, contributions or rollovers for one or more of your members, you must get an ESA alias for your SMSF from:
- a registered SMSF messaging service provider
- your tax agent, or
- your SMSF administrator.
An ESA is not an email address or the contact details of the registered SMSF messaging provider.
The ESA alias provided by your SMSF messaging service provider is case sensitive and must be provided to us in the exact format as it was provided to you.
If your SMSF does not have an ESA, the SMSF may not receive super payments.
For more information about getting an electronic service address, see Register of SMSF messaging providers (the Register).
Since 1 October 2021, SMSFs receive rollovers into their fund and make rollovers from their fund only by using SuperStream. Check with your provider or on the Register to ensure your ESA is set up for rollovers. For more information about ESAs and preparing your SMSF for the SuperStream standard for contributions and rollovers, see Responding to release authorities issued to SMSFs.
You will receive a change of details alert for changes made to your financial institution details and Electronic service address on the SAR.
8 Status of SMSF
A Australian superannuation fund
Is the SMSF an 'Australian superannuation fund'?
Print X in the appropriate box, either No or Yes at item 8 – label A.
For the definition of 'Australian superannuation fund', see Australian super fund.
If the SMSF does not meet the definition of Australian super fund at all times during the income year, the SMSF is not a complying SMSF and it will not receive the concessional rate of tax.
If you are the trustee of an SMSF and you are planning on going overseas, we suggest that you consider whether your SMSF will still be an Australian super fund.
B Fund benefit structure
Print at label B the code from table 1 that best describes the benefit structure of the SMSF. Most SMSFs will use code A.
|
Code |
Definition of SMSF benefit structure |
|---|---|
|
A |
An SMSF is an accumulation fund if the SMSF provides its members with a benefit which is the total of:
An SMSF of this type must use code A, even if the SMSF or any of its accounts is supporting a super income stream benefit. |
|
D |
An SMSF is a defined benefit fund if the SMSF:
|
|
E |
An SMSF is a hybrid fund if it has a combination of both accumulation and defined benefit members. |
C Does the fund trust deed allow acceptance of the government’s super co-contribution and low income super amounts?
A Low income super amount (LISA) is a Low income super tax offset (LISTO).
Does the fund trust deed allow the SMSF to accept the government’s super co-contribution and low income super amount for all eligible members?
Print X in the appropriate box, either No or Yes at item 8 – label C.
If the trust deed allows the acceptance of government contributions and low income super amounts, you must provide your SMSF with an electronic service address (ESA) alias at Section A, item 7 – label C.
9 Was the fund wound up during the income year?
If the fund was wound up during the income year, print X in the appropriate box, at item 9.
|
No |
Print X in the No box. Go to item 10 Exempt current pension income. |
|
Yes |
Print X in the Yes box. Write the date on which the SMSF was wound up in the boxes provided. That date must be a date from 1 July 2022 to 30 June 2023. |
Have all tax lodgment and payment obligations been met?
Print X in the appropriate box, either No or Yes at item 9.
For an SMSF that was wound up during 2022–23, have the trustees:
- paid all outstanding debts
- paid out or transferred all member benefits
- lodged all previous years' annual returns?
For an SMSF that was wound up during 2022–23, you must complete Section D, item 13 – label M Supervisory levy adjustment for wound up funds.
Your fund's bank account must remain open until all expected liabilities have been settled and requested refunds have been received.
For information about your obligations when winding up an SMSF.
10 Exempt current pension income
If the SMSF paid retirement phase superannuation income stream benefits to one or more members during 2022–23, some, or all, of its ordinary income and statutory income may be exempt from income tax under the exempt current pension income rules.
This exempt income is called exempt current pension income (ECPI).
For more information about the taxation of super entities, see Subdivision 295-F of the Income Tax Assessment Act 1997.
Did the fund pay retirement phase superannuation income stream benefits to one or more members during 2022–23?
|
No |
Print X in the No box. Go to Section B: Income. |
|
Yes |
Print X in the Yes box. Complete the remaining items below. |
Exempt current pension income amount
There are 2 methods you can use to work out the SMSF's exempt current pension income (ECPI):
- segregated assets method
- proportionate method.
Calculate the SMSF's ECPI and write it at item 10 – label A.
If you complete Section B, the amount that you write at label A for item 10 in Section A must be the same as the amount that you write at label Y Exempt current pension income for item 11 in Section B.
Which method did you use to calculate your exempt current pension income?
Print X in the appropriate box or boxes (labels B or C or both labels B and C) to indicate which method or methods you used to calculate the SMSF's ECPI.
|
Segregated assets method |
Print X in box at label B. |
|
Proportionate method |
Print X in box at label C. |
|
Both the segregated assets method and the proportionate method |
Print X in the boxes at both labels B and C. |
Did the fund have any other income that was assessable?
|
Yes |
Print X in the Yes box at label E. Go to Section B: Income. |
|
No |
The SMSF did not receive any no-TFN-quoted contributions or have other assessable income for the income year. Print X in the No box at label E. Go to Section C, item 12 Deductions and non-deductible expenses. |
Continue to: Section B: Income – item 11