New Reporting obligations were introduced mid this month for Self-Managed Superannuation Funds.
The reporting has been introduced due to the new balance transfer cap measure and event based reporting framework.
Letters were sent last week to all affected SMSF clients of Shewan Cartwright enclosing a letter and an Authority from us to release information to the ATO. We encourage our SMSF clients to return the signed Authority to us so that we can meet the first reporting deadline by 1st July 2018.
In order to meet the ATO obligations by 1st July 2018 your SMSF is required to report of your Pension Account Balance at 30th June 2017.
This reporting has been introduced as a result of the tax changes introduced by the Federal Government in the last twelve months to actively track your pension balance.
By clicking on the link below you will be taken to the ATO website where further details are provided in relation to these new reporting obligations.