The Australian Tax Office (ATO) has made a number of changes to the Self-managed superannuation fund annual return 2018 (NAT 71226-06.2018) to facilitate the superannuation reform changes that came into effect on 1 July 2017. Some of the main changes are highlighted below:

Section F: Member information

 LabelExplanation
S1Accumulation phase account balance• Accumulation account
• Non-retirement phase TRIS account
S2Retirement phase account balance – Non CDBIS• Account-based pension
• Market linked pension
• Market linked annuity
S3Retirement phase account balance – CDBIS• Lifetime pension
• Lifetime annuity
• Life expectancy pension
• Life expectancy annuity
TRIS CountEnter the number of non-retirement phase TRIS accounts for the member.
X1Accumulation phase valueIf the accumulation phase value is less than the accumulation phase account balance at label S1, provide at X1 the amount disclosed in S1 less any costs associated with administration and exit fees to cease the interest.

The ATO will use the amount in X1 rather than the amount in S1 to work out the member’s TSB if any.
X2Retirement phase valueIf the retirement phase value is less than the retirement phase account balance at label S2, provide at X2 the amount disclosed in S2 less any costs associated with administration and exit fees to cease the interest.

The ATO will use the amount in X2 rather than the amount in S2 to work out the member’s TSB if any.

Capital gains tax (CGT) schedule 2018 (NAT 3423-06.2018)

 LabelDescription
SAmount of capital gain previously deferred under transitional CGT relief for superannuation fundsWith the introduction of transitional CGT relief in the 2016/17 financial year, superannuation funds may have elected to defer any notional capital gain until the asset is actually disposed of.

Report at label S the previously deferred notional capital gain where the gain has been realised during the year.