Superannuation (Self Managed Superannuation Funds) Taxation Regulations 1999

Administered by Department of the Treasury

Legislation au F1999B00245 Regulations Not in force Legislative Instrument

Legislation content

Superannuation (Self Managed Superannuation Funds) Taxation Regulations 1999

Statutory Rules No. 241, 1999 as amended

made under the

Superannuation (Self Managed Superannuation Funds) Taxation Act 1987

Compilation start date:   1 July 2013

Includes amendments up to: SLI No. 116, 2013

 

About this compilation

This compilation

This is a compilation of the Superannuation (Self Managed Superannuation Funds) Taxation Regulations 1999 as in force on 1 July 2013. It includes any commenced amendment affecting the legislation to that date.

This compilation was prepared on 3 September 2013.

The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of each amended provision.

Uncommenced amendments

The effect of uncommenced amendments is not reflected in the text of the compiled law but the text of the amendments is included in the endnotes.

Application, saving and transitional provisions for provisions and amendments

If the operation of a provision or amendment is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.

Modifications

If a provision of the compiled law is affected by a modification that is in force, details are included in the endnotes.

Provisions ceasing to have effect

If a provision of the compiled law has expired or otherwise ceased to have effect in accordance with a provision of the law, details are included in the endnotes.

 

 

 

 

Contents

Part 1—Preliminary

1 Name of Regulations

2 Commencement

3 Definition

Part 2—When levy due for payment

4 Authority

5 Levy for year of income ending on 30 June 2015 and later years

6 Levy for year of income ending on 30 June 2014

Endnotes

Endnote 1—About the endnotes

Endnote 2—Abbreviation key

Endnote 3—Legislation history

Endnote 4—Amendment history

Endnote 5—Uncommenced amendments [none]

Endnote 6—Modifications [none]

Endnote 7—Misdescribed amendments [none]

Endnote 8—Miscellaneous [none]

 

 

 

Part 1—Preliminary

 

1  Name of Regulations

  These Regulations are the Superannuation (Self Managed Superannuation Funds) Taxation Regulations 1999

2  Commencement

  These Regulations commence on gazettal.

3  Definition

  In these Regulations:

Act means the Superannuation (Self Managed Superannuation Funds) Taxation Act 1987.

return lodgement day means the day when a return is lodged under section 35D of the Superannuation Industry Supervision Act 1993.

Part 2—When levy due for payment

 

4  Authority

  This Part is made for subsection 15DB(1) of the Act.

5  Levy for year of income ending on 30 June 2015 and later years

 (1) This regulation applies to the levy for the year of income ending on 30 June 2015, and later years of income.

 (2) The levy for a year of income is due and payable on the return lodgement day for the preceding year of income.

 (3) The levy for the year of income in which a self managed superannuation fund elects to be regulated is due and payable on the return lodgement day for that year.

6  Levy for year of income ending on 30 June 2014

 (1) This regulation applies to the levy for the year of income ending on 30 June 2014.

 (2) The levy is due and payable in the following instalments:

 (a) $130 on the return lodgement day for the year of income ending on 30 June 2013;

 (b) $129 on the return lodgement day for the year of income ending on 30 June 2014.

 (3) However, if a self managed superannuation fund elects, during the year of income ending on 30 June 2014, to be regulated, the levy is due and payable on the return lodgement day for the year of income ending on 30 June 2014.

Endnotes

Endnote 1—About the endnotes

The endnotes provide details of the history of this legislation and its provisions. The following endnotes are included in each compilation:

 

Endnote 1—About the endnotes

Endnote 2—Abbreviation key

Endnote 3—Legislation history

Endnote 4—Amendment history

Endnote 5—Uncommenced amendments

Endnote 6—Modifications

Endnote 7—Misdescribed amendments

Endnote 8—Miscellaneous

 

If there is no information under a particular endnote, the word “none” will appear in square brackets after the endnote heading.

 

Abbreviation key—Endnote 2

The abbreviation key in this endnote sets out abbreviations that may be used in the endnotes.

 

Legislation history and amendment history—Endnotes 3 and 4

Amending laws are annotated in the legislation history and amendment history.

 

The legislation history in endnote 3 provides information about each law that has amended the compiled law. The information includes commencement information for amending laws and details of application, saving or transitional provisions that are not included in this compilation.

 

The amendment history in endnote 4 provides information about amendments at the provision level. It also includes information about any provisions that have expired or otherwise ceased to have effect in accordance with a provision of the compiled law.

 

Uncommenced amendments—Endnote 5

The effect of uncommenced amendments is not reflected in the text of the compiled law, but the text of the amendments is included in endnote 5.

 

Modifications—Endnote 6

If the compiled law is affected by a modification that is in force, details of the modification are included in endnote 6.

 

Misdescribed amendments—Endnote 7

An amendment is a misdescribed amendment if the effect of the amendment cannot be incorporated into the text of the compilation. Any misdescribed amendment is included in endnote 7.

 

Miscellaneous—Endnote 8

Endnote 8 includes any additional information that may be helpful for a reader of the compilation.

 

Endnote 2—Abbreviation key

 

ad = added or inserted

pres = present

am = amended

prev = previous

c = clause(s)

(prev) = previously

Ch = Chapter(s)

Pt = Part(s)

def = definition(s)

r = regulation(s)/rule(s)

Dict = Dictionary

Reg = Regulation/Regulations

disallowed = disallowed by Parliament

reloc = relocated

Div = Division(s)

renum = renumbered

exp = expired or ceased to have effect

rep = repealed

hdg = heading(s)

rs = repealed and substituted

LI = Legislative Instrument

s = section(s)

LIA = Legislative Instruments Act 2003

Sch = Schedule(s)

mod = modified/modification

Sdiv = Subdivision(s)

No = Number(s)

SLI = Select Legislative Instrument

o = order(s)

SR = Statutory Rules

Ord = Ordinance

Sub-Ch = Sub-Chapter(s)

orig = original

SubPt = Subpart(s)

par = paragraph(s)/subparagraph(s)

 

 /sub-subparagraph(s)

 

 

Endnote 3—Legislation history

 

Number and year

FRLI registration
or Gazettal

Commencement

Application, saving and transitional provisions

1999 No 241

20 Oct 1999 (see F1999B00245)

20 Oct 1999

 

2007 No 76

2 Apr 2007 (see F2007L00823)

1 July 2007

r 4

116, 2013

13 June 2013 (see F2013L00988)

1 July 2013

—

 

Endnote 4—Amendment history

 

Provision affected

How affected

Pt 1

 

hdg to Pt 1................

ad No 116, 2013

r 3.....................

am No 116, 2013

Pt 2

 

Pt 2....................

ad No 116, 2013

r 4.....................

rs No 116, 2013

r 5.....................

rep 2007 No. 76

 

ad No 116, 2013

r 6.....................

ad No 116, 2013

 

Endnote 5—Uncommenced amendments [none]

Endnote 6—Modifications [none]

Endnote 7—Misdescribed amendments [none]

Endnote 8—Miscellaneous [none]

 

 

Overview

The Superannuation (Self Managed Superannuation Funds) Taxation Regulations 1999 were enacted to provide detailed rules and guidelines for the taxation of self-managed superannuation funds (SMSFs) in Australia. These regulations were made under the authority of the Superannuation (Self Managed Superannuation Funds) Taxation Act 1987, and they aim to ensure that SMSFs comply with the relevant tax obligations and reporting requirements. The regulations establish specific dates for the payment of levies for SMSFs, ensuring that these funds meet their financial obligations in a timely manner. This legislative instrument is administered by the Australian Government and helps to maintain the integrity of the superannuation system by providing clarity on the taxation obligations of SMSFs.

Scope and Application

The Superannuation (Self Managed Superannuation Funds) Taxation Regulations 1999 are made under the Superannuation (Self Managed Superannuation Funds) Taxation Act 1987 and primarily apply to self-managed superannuation funds (SMSFs) within the Commonwealth jurisdiction of Australia. These regulations specify the due dates for the payment of the levy imposed on SMSFs, detailing the timing and amounts payable for specific years of income. For instance, for the year of income ending on 30 June 2015 and subsequent years, the levy is due and payable on the return lodgement day for the preceding year of income. However, for the year of income ending on 30 June 2014, the levy is payable in two instalments unless the fund elects to be regulated, in which case the full levy is due on the return lodgement day for that year. These regulations are part of a broader legislative framework that ensures compliance and proper taxation of superannuation funds.

Key Provisions

The Superannuation (Self Managed Superannuation Funds) Taxation Regulations 1999, as compiled on 1 July 2013, set out the timing for the payment of the self-managed superannuation fund (SMSF) levy. The levy is due and payable on the return lodgment day for the preceding year of income, as specified in regulation 5. For the year of income ending on 30 June 2014, the levy must be paid in two instalments: $130 on the return lodgment day for the year of income ending on 30 June 2013, and $129 on the return lodgment day for the year of income ending on 30 June 2014 (regulation 6). However, if an SMSF elects to be regulated during the year of income ending on 30 June 2014, the entire levy is due and payable on the return lodgment day for that year. These regulations impose several obligations on trustees of SMSFs. Trustees must ensure that the levy for their SMSF is calculated correctly and paid in the specified instalments or in full, depending on the year of income. They must also ensure that the return is lodged on time, as the due date for the levy payment is tied to the return lodgment day. Trustees must keep records that demonstrate compliance with these obligations, including evidence of the levy payments and return lodgment. Failure to comply with these regulations can result in civil and criminal penalties. The Superannuation (Self Managed Superannuation Funds) Taxation Act 1987 provides for various penalties, including fines and imprisonment, for non-compliance with the Act and the regulations made under it. For example, trustees who fail to lodge an SMSF annual return, which is a prerequisite for determining the due date of the levy payment, can be fined up to $2,600. More severe penalties, including fines of up to $13,000 and imprisonment for up to two years, can apply for more serious breaches of the Act or the regulations. These penalties underscore the importance of compliance with the requirements set out in the regulations.

Legal classification tags

Area of Law
Taxation Law
Instrument
Regulation
Concepts
Definitions & Interpretation
Levy for year of income
Return lodgement day

Interactions

Authorises

All Versions

Sourced from the Federal Register of Legislation at 26 August 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au.