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Superannuation Tax Returns

Along with your individual tax return SMSFs (Self-managed Super Funds) are required to lodge an annual return once the audit of the SMSF has been finalised. The ATO treats income from an SMSF the same as it does for an individual. When the fund earns income it is required to pay taxes. If you don't lodge a return the ATO can apply penalties, including reducing the concessions available to your super. This could have a significant impact on your retirement income.

An SMSF annual return is more than an income tax return. It is also used to report super regulatory information, member contributions and pay the SMSF supervisory levy. It needs to be ATO-compliant and correctly audited so as to not cause a big, unexpected tax assessment down the track.

With the complexity of Australian tax law and SMSFs in general, managing your own super tax return can be a risky and stressful ordeal. While many people decide to go it alone what often happens is they find themselves being presented with an ATO bill for thousands of dollars they weren't expecting. Why take the risk? Having your superannuation and tax return professionally prepared saves time, avoids stress and ensures you pay the minimum amount of tax you are required to, leaving you more for your retirement.

SMSF deductions

There are many deductions available such as auditing fees and insurance premiums and we'll make sure they are all included in your return. That simply means your fund pays the least amount of tax it is required to and that means more money for you when you retire.

SMSF tax return superannuation contributions

With all the legislative changes in Australian tax law many people are investigating tax-deductible super contributions. Unlike contributions made by your employer, after-tax voluntary super contributions can be counted towards your "concessional contributions cap". This can be a pretty complex and constantly changing area, so again rather than taking it on yourself and risking costly mistakes we recommend you talk to us for expert advice and guidance.

Lodgement deadlines

Different super funds have different lodgement due dates; we can help you to ensure that all your due dates are met and there are no nasty surprises. We can also advise on ATO extensions and instalments.

Why choose us?

With over 40 years experience delivering exceptional accounting, insurance, finance, investment, superannuation and tax return services the team at Peter Vickers Business Group have the dedication and skills to help you achieve your goals. The quality of your lifestyle in retirement largely depends on your SMSF so why take any chances? Call or email us today.

Advice provided by Peter Vickers and Associates Pty Ltd Chartered Accountants Liability Limited by a Scheme under the Professional Standards Legislation ABN 60003466813. Authorised representative of Peter Vickers Insurance Brokers Pty Ltd trading as Peter Vickers Investment Services Australian Credit Licence and Australian Financial Services Licence Number 229302

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Suite 2/345 Pacific Highway,
Lindfield, NSW 2070

T: 61 2 9496 2300

Peter Vickers Insurance Brokers

Suite 2/345 Pacific Highway
Lindfield NSW 2070
T: 1300 784 011


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Windsor, NSW 2756
T: 61 2 4577 4455

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Chartered Accountants:  Liability Limited by a Scheme under the Professional Standards Legislation - AFSL 229302  Peter Vickers & Associates Pty Ltd ACN 003466813 | Peter Vickers Insurance Brokers Pty Ltd AFSL 229302 ACL 229302 ACN 074 294 081
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