Lodgement dates from Super Funds

The lodgement dates for SMSFs have not been published for the 2015/2016 financial year. However looking at dates for the previous year can be used as an indicator for the lodgement dates for the upcoming year 2015/16 financial year.

Due date for lodgment Due date for payment Description
31 Oct 31 Dec Lodgement for superfunds with prior year returns outstanding
15 Jan 1 Dec Large/medium superfunds whose 2014 tax return was taxable
28 Feb 28 Feb Large/medium superfunds whose 2014 tax return was non-taxable.
28 Feb 28 Feb Newly registered superfunds

 

Key Superannuation rates and thresholds

Supervisory Levy for 2015 financial year

 

Not newly registered

Newly registered

 

Levy payable

Year of levy

Levy payable

Year of levy

2015

$259

2016 only

$259 +$259 =$518

2015 +2016

 

Concessional contributions cap

Concessional contributions include:

  • employer contributions (including contributions made under a salary sacrifice arrangement)
  • personal contributions claimed as a tax deduction by a self-employed person.

If you have more than one fund, all concessional contributions made to all your funds are added together and counted towards the cap.

Income year

Amount of general cap

2015

$30,000

 

Income year Cap for those aged 59 years or over on 30 June 2013 Cap for those aged 49 years or over on 30 June 2014
2015 $35,000 $35,000

About the Author

Charith Cooray

Charith Cooray (Accountant – B.Comm)

Charith holds a Bachelor of Commerce with a major in Accounting from Monash University, Clayton. While studying, Charith worked part time in the retail industry for two major department stores where he developed a strong customer focus.

 

 


 

This article was produced by Zimsen Partners. It is intended to provide general information only in summary format on accounting, business advisory and taxation issues. It does not constitute accounting advice, and should not be relied on as such.

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