ATO SMSF Supervisory Levy
ATO SMSF Supervisory Levy
ATO Supervisory Levy has increased from $45 per year up until 2007 to now $259.
In addition to the increase, the collection of the levy will also change from being in arrears to being collected in advance by the ATO. This means that SMSF trustees will eventually be paying their 2015 levy upon lodgement of their 2014 return, unlike the previous system. As the Tax Office website says, this transition “will be phased in over two years, 2013/14 and 2014/15, to give SMSFs time to adjust.” Note in the illustration below just what this two-year transition actually means:
| Tax year | SMSF levy | Amount paid on lodgement |
| 2006/07 | $45 | $45 |
| 2007/08 | $150 | $150 |
| 2008/09 | $150 | $150 |
| 2009/10 | $150 | $150 |
| 2010/11 | $180 | $180 |
| 2011/12 | $200 | $200 |
| 2012/13* | $191 | $321 |
| 2013/14* | $259 | $388 |
| 2014/15 | $259 | $259 |
*From the 2012/13 tax year, the SMSF levy will be transitioned to be paid in advance, rather than in arrears. This effectively means that the catch-up amount of $259 is spread over two years, each taking up an additional 50% of the $259 levy to eventually become prepaid.
Please Note: Many of the comments in this publication are general in nature and anyone intending to apply the information to practical circumstances should seek professional advice to independently verify their interpretation and the information’s applicability to their particular circumstances.