The taxman will extend the deadline for lodgement of self-managed super fund annual returns, following feedback from financial advisers and accountants.
The deadline has been extended to 30 June 2017 so as to allow greater time to come to terms with the upcoming changes to superannuation, according to a communication issued by the Australian Tax Office.
“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,” said ATO deputy commissioner James 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.”