There are a number of important SMSF lodgement dates 2020 that are upcoming across April, May and June 2020. It’s also possible that the ATO may allow a lodgement extension for 2019 SMSF annual returns to assist tax practitioner businesses impacted by COVID-19.
Summary of SMSF Lodgement Dates 2020
|28 February 2020||Annual return for new registrant (taxable and non-taxable) SMSFs, unless they were advised of a 31 October 2019 due date at finalisation of a review of the SMSF at registration. Payment (if required) is also due on this date.|
|31 March 2020||Latest date to appoint an approved auditor for SMSFs with a 15 May 2020 annual return lodgement date.|
|28 April 2020||Events based reporting date for any Transfer Balance Account (TBAR) transactions for period 1 January 2020 to 31 March 2020 where the SMSF is required to report quarterly.|
|28 April 2020||Lodgement and payment date for March 2020 quarterly activity statements including Instalment Activity Statements and Business Activity Statements.|
|15 May 2020||SMSF tax returns not required earlier and not eligible for the 5 June lodgement concession date. Payment (if required) is also due on this date. Most SMSF returns must lodge their return by this date unless an extension is granted.|
|05 June 2020||Tax returns for SMSFs that were non-taxable or received a refund by latest year lodged and are non-taxable or will receive a refund in current year.
Note: This concession is only available to SMSFs with a normal lodgement due date of 15 May 2020. It is not available toS MSFs with an earlier due date.
|30 June 2020||Automatic deferral lodgement deadline for SMSFs with a standard lodgement date of 15 May 2020.|
|30 June 2020||Last date to make an application for the $10,000 COVID-19 early release of superannuation for the 2020 financial year.|
Source: ATO – Super Lodgement
SMSF Tax Return Due Dates 2020
Most SMSFs have an annual return due date of 15 May 2020 HOWEVER the ATO has granted a general 4 week extension through to 15 June 2020 for most SMSFs (provided they don’t have any prior year returns outstanding).
Where an SMSF was non-taxable or received a refund when it lodged it’s 2018 annual return, and it’s expected to be non-taxable / refundable again in 2019, then the lodgement date is 5 June 2020.
Any funds that were newly registered during the 2019 financial year should have lodged their first SMSF annual return by 28 February 2020.
SMSFs that are registered for GST and report on an annual basis are also required to lodge their annual GST return by the above SMSF annual return lodgement dates.
It’s recommended that SMSF trustees provide all necessary information to their adviser / SMSF administration provider by early April to ensure lodgement occurs on time for the 2019 SMSF annual return.
March 2020 SMSF Activity Statements
The due date for March 2020 quarterly activity statements is 28 April 2020. This includes instalment activity statements as well as business activity statements.
The ATO has also announced it will let taxpayers (including SMSFs) vary their PAYG instalments for the current 2019-20 financial year. This will apply to the March and June 2020 quarterly activity statements.
Some SMSFs may be able to reduce the PAYG instalment amount to $0 and even claim back amounts paid during the September and December 2019 quarters. More information on these options available here: Vary SMSF PAYG Instalments
We can assist SMSF trustees meet their SMSF lodgement obligations and also assist where the ATO has provided notice that a prior year SMSF annual return or activity statement is outstanding.
You may have asked the following questions to find this article:
- How do I lodge my annual SMSF return?
- How much does it cost to wind up a SMSF?
- How do I cancel my SMSF registration?
- What is the 2019 SMSF tax return due date?
- When is the SMSF tax return due date 2019?
- When is the SMSF tax return due date 2020?
- Can I do my own SMSF tax return?
- ATO update on SAR lodgements
- ATO extension for 2019 SMSF annual returns