The due date for lodgement of all self-managed superannuation fund annual returns for the 2016/17 income year has been extended to 2 July 2018.
The announcement by the Commissioner of Taxation is in regards to the commencement of the transfer balance cap regime which commences on 1 July 2017. The extension is also in place for newly established SMSFs who otherwise have a 28 February lodgement date in their first year.
This extension provides practitioners with an opportunity to ensure all their SMSFs have adequate documentation for CGT relief for assets when applying transfer balance cap rules.
Source: ATO media release - SMSF Alert
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