ATO Warning for Funds Registered in 2007/08 Financial Year

SMSFs which were registered in the 2007/08 financial year should have lodged their 2008 Annual Return with the ATO by 28 February 2009.

Registration is simply short hand for an SMSF being established and making an election to be regulated under the SIS Act.  This is done by the trustees completing and submitting to the ATO an approved form.  The form also acts as a request for an Australian Business Number and a Tax File Number for the fund.

The ATO will shortly commence issuing final notices to funds which were registered in 2007/08 to lodge their 2008 Annual Returns.  Any trustees of SMSFs which were registered in 2007/08 financial year and have not lodged their 2008 Annual Return should contact their SMSF adviser as a matter of urgency to arrange filing of the 2008 return.

SMSFs which were registered in 2006/07 or earlier financial years generally have until 15 May 2009 to lodge their 2008 Annual Returns.