The Australian Taxation Office (ATO) charges a levy to self-managed super funds (SMSFs) to recover the cost of administering the SMSF regime. The levy is $259 per year and is payable for each financial year, even if the SMSF has no income or gains. The levy is due on the same date as the SMSF’s annual return. Please note the following information is subject to change.
What is the ATO supervisory SMSF levy?
The ATO supervisory SMSF levy is a fee that is charged by the Australian Taxation Office (ATO) to each self-managed super fund (SMSF). The levy is designed to recover the ATO’s costs in administering the SMSF regime.
How much is the ATO supervisory SMSF levy?
The ATO supervisory SMSF levy is $259 per year. The levy is payable for each financial year, even if the SMSF has no income or gains.
When is the ATO supervisory SMSF levy due?
The ATO supervisory SMSF levy is due on the same date as the SMSF’s annual return. The due date for the 2022-23 financial year is 31 October 2023.
How do I pay the ATO supervisory SMSF levy?
The ATO supervisory SMSF levy can be paid online, by phone, or by mail. To pay online, you will need to create an account on the ATO website. To pay by phone, you can call the ATO on 13 28 61. To pay by mail, you can send a cheque or money order to:
Australian Taxation Office
GPO Box 9838
Sydney NSW 2001
What happens if I don’t pay the ATO supervisory SMSF levy?
If you don’t pay the ATO supervisory SMSF levy, the ATO may:
– Issue you with a penalty
– Take legal action against you
– Restrict your access to government services
– What are the benefits of paying the ATO supervisory SMSF levy?
By paying the ATO supervisory SMSF levy, you are helping to ensure that the ATO can continue to provide high-quality services to SMSFs. These services include:
– Administering the SMSF regime
– Providing information and support to SMSF trustees
– Enforcing SMSF laws
– Where can I get more information about the ATO supervisory SMSF levy?
You can find more information about the ATO supervisory SMSF levy on the ATO website: https://www.ato.gov.au/rates/smsf-supervisory-levy/
