Newly registered SMSFs that have neither been legally established (e.g. assets not yet set aside for the benefits of members) nor started operating in their first year of registration may not have to lodge a return for that first year. This page explains the steps you need to take in Class.
The ABC Family Super Fund was established on 8 June 2017. No contributions or rollovers have been received by the fund and there were no assets specifically allocated for the members prior to 30 June 2017.
Establish this fund on Class at 8 June 2017. Also, take the following steps in order to comply with the ATO requirements.
Navigate to Fund level > Fund > Load Opening Balance
- Enter Books Closed date
- Click on OK
No need to process a period update and tax finalisation for the 2017 Financial Year
Return not Necessary
Refer to the ATO website for information and instructions on SMSF Annual Returns, in particular the section on Funds without assets.