Introduction
The ATO has unveiled its Corporate Plan 2025–26, reaffirming its focus on SMSF regulation and assistance. According to Deputy Commissioner Emma Rosenzweig, trustees can expect renewed attention on compliance matters—highlighting the importance of timely lodgment and maintaining eligibility for tax concessions. Australian Taxation Office
Outstanding SMSF Annual Returns
- We’ll be focussing on the significant number of outstanding SMSF annual returns. There is a growing number of SMSFs falling behind in their lodgment obligations, and we know that lodgment is the most important compliance obligations trustees must meet. If you fail to lodge your annual return on time, there may be penalties and interest applied and SMSF tax concessions can be lost. If your fund’s lodgment is overdue, the Super fund lookup status may change to ‘regulation details removed’. This can restrict your SMSF’s ability to receive rollovers and employer contributions.
Compliance with Release Authorities
- We’re also concerned about SMSFs increasingly failing to comply with release authorities. This non-compliance involves not releasing money according to the authority or paying it but not complying with the requirements to notify us.
Compliance with Commutation Authorities
- We’ll also focus on SMSFs failing to respond to Commissioner’s Commutation Authorities within 60 days using the correct reporting event and by lodging the transfer balance account report.
- If an SMSF fails to respond to the commutation authority within 60 days of the notice, the member’s income stream ceases to be in retirement phase and the SMSF can’t claim an earnings tax exemption for this income stream in that income year or any later income years.
Illegal Early Access
- We’re continuing to tighten controls around SMSF registration and focusing on education and early intervention. We’ve seen an upward trend in accessing super early and our focus remains on those who illegally access SMSF funds. It’s important you don’t fall victim to the temptation of illegal early access schemes. The consequences can include additional tax, penalties, loss of retirement savings and disqualification as an SMSF trustee which goes on the public record.
Fraud Prevention
- Fraud remains a key risk for the super system and we’re working hard to stay ahead of emerging threats. Vigilance is essential, as the system grows, and fraudsters become more sophisticated.
Conclusion
The ATO’s Corporate Plan 2025–26 sends a clear message: SMSF compliance remains a high priority. Trustees should be proactive—prioritise lodgment, monitor your fund’s status, and take advantage of digital tools to maintain regulatory standing.