SMSF Supervisory Levy Reform

Written by Hein Preller , Posted in ATO SMSF, Information, News, SMSF Topics

From 1 July 2013, the method of paying supervisory levy for the SMSF will be changed. The supervisory levy payable amount will base on the year of operation, rather than in arrears.

For the SMSFs that were registered prior to 2013/2014 Financial Year, when they lodge their 2013/2014 SMSF Annual Return, the total payable supervisory levy will be $388.

  • 2nd instalment of the 2013/2014 levy ($129), plus
  • Full amount of the 2014/2015 levy ($259)

For the SMSFs that are newly registered in the 2013/2014 Financial Year, the total payable supervisory levy that they are required to pay is $518.

  • Full amount of the 2013/2014 levy ($259), plus
  • Full amount of the 2014/2015 levy ($259)

For more info about supervisory levy, please see here.

 

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Hein Preller

Hein is a Director at Superannuation Warehouse, specialising in setting up new SMSF's. Hein's company performs all the annual administration tasks consisting of preparing financial statements, lodging a tax return and arranging the audit.

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