ATO extends important lodgement deadline for SMSFs

The deadline has been pushed back to 30 June 2017, in time for the superannuation reforms that take effect from 1 July.

Deputy Commissioner James O’Halloran said the ATO decided to extend the previous deadline of 15 May, as the SMSF professional community struggle to meet the compliance standards.

“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.”