The February 28 deadline for SMSF returns is getting closer
Do you have a Self-Managed Super fund? Did you start one in the 2015/16 financial year?
If you answered yes to both of those questions you only have until the 28th February to have your Self-Managed Super fund tax return complete and lodged.
If you have a Self-Managed Super fund but was started earlier than the 2015/16 financial year, the normal tax lodgement rules apply to you.
SMSF tax return lodgement can be a long process as your Accountant will need to gather all source documents, process your fund information and complete End of Year reports which then also need to be audited.
ATO Penalties can apply for non-compliance of this deadline.
With a closing date of the 28th February it’s time to get organised and see your accountant!
If you have any questions or are unsure if this deadline applies to you, please contact Ally Wadwell on 07 4151 8898.
Ally Wadwell | Accountant | The Money Edge | Bundaberg