Overview
The 2021-22 SMSF Annual Return (SAR) stationery has been released by the ATO and the key changes are as follows:
- Section F: Increase maximum number of allowable members in a SMSF to six (6) members
- Section G: Increase maximum number of allowable members in a SMSF to six (6) members
- Non-return related SMSF changes
Apart from minor cyclic changes for the financial years, there are no real changes to the CGT schedule and the losses schedule.
2022 SMSF Annual Return Changes
| Annual Return Section | Description |
|
Section F: Member information Increase the maximum number of allowable members in a SMSF to six (6) members |
Increase the maximum number of allowable members in SMSF from four (4) to six (6) members. This section is for anyone who remains a member of the fund on 30 June 2022. This includes:
This will be shown as Member 1 to Member 6 in Section G of the SMSF Annual Return. |
|
Section G: Supplementary member information Increase the maximum number of allowable members in a SMSF to six (6) members |
Increase the maximum number of allowable members in SMSF from four (4) to six (6) members. This section is for anyone who is no longer a member of the fund on 30 June 2022. This includes:
This will be shown as Member 7 to Member 12 in Section G of the SMSF Annual Return. |
Non-return related SMSF changes
Temporarily reducing superannuation minimum payment amounts for certain pensions and annuities
Due to the impact of COVID-19, the minimum pension drawdown rate will remain halved for another 12 months after the government announced an extension of the COVID-19 relief measure. The 50% minimum drawdown rate applies for certain pensions and annuities for the financial years 2019-20, 2020-21, 2021-22 and 2022-23 respectively.