This article covers changes to the 2026 SMSF Annual Return including:

• Overview
• Changes Affecting the SMSF Annual Return
• Changes Affecting the Schedules
• Changes Outside the SMSF Annual Return
• ATO PDF Return & Instructions

Overview

There are only minor changes to the self-managed superannuation fund annual return (SAR) and trust income schedule (TIS) for 2026. No change to capital gains tax (CGT) schedule and losses schedule.

Changes Affecting the SMSF Annual Return

SMSF Annual Return Section	Description
Section C: Deductions and non-deductible expenses Label H1 & H2: SMSF auditor fee	This is a mandatory field subject to validation rules. The field must contain a value and cannot be left empty noting that $0 is a valid entry.    Class will pre-populate this field with either the auditor's fee processed or $0 where no fee applies.
Section D: Income tax calculation statement Label E4: Exploration credit tax offset	Removal of label and field as Junior Minerals Exploration Incentive (JMEI) expired in June 2025.
Section F & G: Member information Label X1: Value of accumulation account	Change of label name from "Accumulation phase value" to "Value of accumulation account"
Section F & G: Member information Label X2: Value of retirement account	Change of label name from "Retirement phase value" to "Value of retirement account"
Section K: Declarations	Change of term from "director(s)" to "director(s) of the corporate trustee"

Changes Affecting the Schedule

Trust Income Schedule Section	Description
Distribution details Label M: Exploration credits distributed	Removal of label and field as Junior Minerals Exploration Incentive (JMEI) expired in June 2025

Changes Outside the SMSF Annual Return

Better Targeted Super Concessions (Division 296) 

From 1 July 2026, if a member's total super balance (TSB) at the end of the financial year exceeds the large super balance threshold (LSBT) (set at $3 million for the 2026–27 financial year), they will be subject to Div 296 tax of 15% on the proportion of earnings relating to your TSB that exceeds the LSBT.

Further, if a member's TSB at the end of the financial year exceeds the very large super balance threshold (VLSBT) (set at $10 million for the 2026–27 financial year), they will be subject to additional Division 296 tax of 10% on the proportion of earnings relating to your TSB that exceeds the VLSBT.

Payday Super 

Indexation of concessional contributions (CC) cap

From 1 July 2026, the concessional contributions cap (TBC) will increase by $2,500 to $32,500 per annum.

Indexation of non-concessional contributions (NCC) cap

From 1 July 2026, the non-concessional contributions cap (TBC) will increase by $10,000 to $130,000 per annum.

Indexation of general and personal transfer balance cap (TBC)

From 1 July 2026, the General Transfer Balance Cap (TBC) will increase by $100,000 to $2,100,000; the personal transfer balance cap may also be indexed proportionally for eligible members.

Total super balance (TSB) thresholds for non-concessional contribution (NCC) cap and bring-forward rule

From 1 July 2026, thresholds for non-concessional contributions bring-forward rule have also changed:

Denied deductions for ATO interest charges

The tax deductions for general interest charges (GIC) and shortfall interest charges (SIC) have been removed from 1 July 2025. As a result, any GIC and SIC remitted after 30 June 2025 will no longer be required to be included as assessable income in the income year which the remission occurs. 
 

ATO PDF Return & Instructions

To download the ATO’s SMSF Annual Return form, please click the ATO link below:
https://www.ato.gov.au/forms-and-instructions/self-managed-superannuation-fund-annual-return

To download the ATO’s SMSF Annual Return instructions, please click the ATO link below:
https://www.ato.gov.au/forms-and-instructions/self-managed-superannuation-fund-annual-return-instructions