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These instructions will help you complete the Self-managed superannuation fund annual return 2017. However, they are not a guide to income tax or superannuation law. Seek help from us or a recognised tax adviser if these instructions do not fully cover your circumstances.
About the SMSF annual return
Who needs to complete an SMSF annual return
Your super fund must lodge a Self-managed superannuation fund annual return 2017 if it was:
- a self-managed superannuation fund on 30 June 2017, or
- a self-managed superannuation fund that was wound-up during 2016–17.
Only self-managed superannuation funds (SMSFs) can use the Self-managed superannuation fund annual return 2017. Super funds that are not SMSFs at the end of 2016–17 must use the Fund income tax return 2017 and, where required, a separate Super member contributions statement.
Your SMSF must lodge an SMSF annual return even if it does not have a tax liability.
How to use these SMSF annual return instructions
Work through these SMSF annual return instructions from the start (Section A) to the finish (Section K).
- You must answer all mandatory questions
- You must answer all questions which apply to your SMSF.
Leave the answer box blank for all other questions. If you leave the answer box blank, you will have specified a zero amount or that the question is not applicable to you.
Read the instructions for each question to find out:
- whether you need to complete the question
- the information you must provide.
If a question does not apply to your SMSF, move on to the next question.
Sections of the SMSF annual return
The SMSF annual return is more than an income tax return. It has 11 sections, each described below.
You must complete at least six sections (A, C, D, (F and/or G), H and K). Complete the other sections only if they apply to your SMSF.
A: Fund information: Complete this section for the SMSF; provide general and identifying information about the SMSF and its auditor.
B: Income: Complete this section if the SMSF has assessable income to report.
C: Deductions and non-deductible expenses: Complete this section for the SMSF; report all the SMSF’s expenses, both deductible and non-deductible.
D: Income tax calculation statement: Complete this section for the SMSF to calculate the amount due or refundable to the SMSF.
E: Losses: Complete this section if the SMSF has tax or capital losses to carry forward to later income years.
Sections F and G: Member information and supplementary member information:Complete either Section F or Section G (or both) for the SMSF. Report contributions and account balances for each of the SMSF’s members:
- in Section F, for those who had an account on 30 June 2017
- in Section G, for those who left the SMSF during 2016–17.
H: Assets and liabilities: Complete this section for the SMSF. Report all of the SMSF’s assets and liabilities at 30 June 2017.
I: Taxation of financial arrangements Complete this section if the taxation of financial arrangements provisions apply to the SMSF.
J: Other information Complete this section if the SMSF has made or is making a family trust election or an interposed entity election.
K: Declarations: Complete this section for the SMSF. Declare that you have met your obligations in relation to the SMSF annual return.