Do you need to lodge a TBAR report?
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This document discusses when a TBAR report needs to be lodged for an SMSF. A TBAR report must be lodged if a fund member has a total super balance of $1m or more, or if a new pension has commenced. The deadline for lodging TBAR reports is July 1st if a pension existed in the prior year, or within 28 days of the quarter in which a new pension commenced.
Do you need to lodge a TBAR report?
- 1. DO YOU NEED TO LODGE A TBAR REPORT? Do you have an SMSF Member that has total super balance of $1m or more? Did you have a pension existing as at 30 June 2017? Did you have a pension existing as at 30 June 2017? Have you commenced a new pension? Have you commenced a new pension? Do you wish to take more than the minimum pension? Please contact your advisor as you may be able to treat the excess as a lump sum withdrawal from your pension Do you wish to take more than the minimum pension? Please contact your advisor as you may be able to treat the excess as a lump sum withdrawal from your pension You need to lodge TBAR report by 1 July 2018 You need to lodge TBAR report by 1 July 2018 You need to lodge TBAR within 28 days after the end of the quarter in which your pension commenced You need to lodge TBAR no later than the due date of lodging the SMSFs annual Tax return for the year in which the pension commenced You dont need to lodge TBAR report Yes No No No NoNo No YesYes Yes YesYesYes Once your SMSF is on annual or quarterly for TBAR, it will stay on that basis for its existence EVENTREPORT TIMING