Changes to the SMSF Levy
The government recently announced that it will reform the supervisory levy arrangements for SMSFs by:
- increasing the levy from $191 in 2012/13 to $259 per year from 2013/14 onwards; and
- bringing the payment of the levy forward so it is levied and collected in the same year of income. This will be phased in over 2013/14 and 2014/15, to give SMSFs time to adjust.