ATO extends SMSF lodgement deadline

In response to industry feedback, the ATO has confirmed this morning it will extend the due date for lodgement of SMSF annual returns for 2015-16.

The deadline has been extended to 30 June 2017, as the SMSF professional community in part struggles to get their clients compliant with the superannuation reforms that are to take effect from 1 July this year.

Deputy Commissioner James O’Halloran said the ATO made this decision as a result of feedback received from professional and industry representatives.

“We have heard that many accounting and advisory firms are stretched to meet their usual annual SMSF lodgement commitments, in addition to providing advice to their clients about the superannuation changes taking effect on 1 July,” Mr O’Halloran said.

“Accountants, tax agents and SMSF advisers play a key role in ensuring that their SMSF clients are ready for the changes on 1 July. They will ensure their clients are in the best position to make informed decisions about their superannuation savings in light of the changes.

“The ATO has taken this step to reduce some of the burden of compliance work so that accountants, tax agents and SMSF advisers can focus on providing appropriate advisory services to their SMSF clients ahead of the changes.”

 

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