New SMSF? Here’s what you need to do by 31 October

If you’re lodging your self-managed super fund annual return for the first time learn about your lodgment obligations.

If you have a new self-managed super fund (SMSF) you must lodge your SMSF annual return (SAR) by 31 October 2025.

Contact us as soon as possible if you need help preparing your SMSF annual return. This allows time to include you in our lodgment program, giving you until 28 February 2026 to lodge your first return.

However, some funds may still need to lodge by 31 October 2025, even with a tax agent so check your registration letter for details.

If your new fund had no assets in the first year it was registered you must either lodge a  return not necessary form or cancel your SMSF registration if you no longer intend to operate the fund.

Remember each year, you must:

• prepare your fund’s accounts including valuing your funds’ assets
• appoint an  approved SMSF auditor at least  45 days before  your lodgment due date
• ensure the auditor has time to assess compliance and issue an independent report
• address any issues identified by the auditor
• lodge your annual return and pay any outstanding tax and the  supervisory levy.

For new SMSFs, the supervisory levy is $518, covering both the setup year and the following financial year.

Stay compliant—act early and seek professional support if needed.

Learn more by visiting Your obligations as an SMSF trustee or Help and support for SMSFs.

You can also try these online education modules, which are interactive and enable you to build your knowledge.

Contact us if you have any questions.

Source: ato.gov.au July 2025
Reproduced with the permission of the Australian Tax Office. This article was originally published on https://www.ato.gov.au/individuals-and-families/super-for-individuals-and-families/self-managed-super-funds-smsf/smsf-newsroom/new-smsf-heres-what-you-need-to-do-by-31-october

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