# SMSF Rules and Limits Reference FY2025-26

Canonical URL: https://superinformed.com.au/smsf-tools/smsf-rules-limits
Markdown URL: https://superinformed.com.au/llms-pages/smsf-tools/smsf-rules-limits.md
Section: SMSF Tools
Last modified: 2026-05-24
Review focus: SMSF trustee rules, contribution and pension limits, investment restrictions, penalties, reporting obligations, and current thresholds.

Summary: Reference page for SMSF trustee rules, contribution caps, pension drawdowns, in-house assets, audit obligations, reporting dates, and selected ATO penalties.

Editorial note: Super Informed content is general information for Australian SMSF trustees. It is not personal financial advice, tax advice, or legal advice.
Author/editor: Sam Corrie, Founder & Editor, Super Informed, Adelaide SA
Editorial method: Primary-source review of ATO, ASIC, Treasury, legislation, regulator announcements, explanatory material, and official guidance where available.
Independence: Super Informed is an independent editorial project. It is not affiliated with, endorsed by, or written on behalf of any employer, bank, super fund, product issuer, adviser, accountant, or regulator.
Corrections: Corrections and clarifications can be sent to sam@superinformed.com.au. Material corrections are reflected in the article and updated date where appropriate.
Scope: General information only. Not personal financial advice, tax advice, or legal advice.

## Source Base

- [ATO SMSF guidance](https://www.ato.gov.au/individuals-and-families/super-for-individuals-and-families/self-managed-super-funds-smsf)
- [ATO key superannuation rates and thresholds](https://www.ato.gov.au/tax-rates-and-codes/key-superannuation-rates-and-thresholds)
- [ATO SMSF penalties and compliance](https://www.ato.gov.au/individuals-and-families/super-for-individuals-and-families/self-managed-super-funds-smsf/penalties-and-compliance)

## Related Super Informed Resources

- [Trustee Obligations Guide](https://superinformed.com.au/smsf-guides/smsf-trustee-obligations): Read the plain-English guide to trustee duties.
- [SMSF Audit Guide](https://superinformed.com.au/smsf-guides/smsf-audit-guide): See how rules are checked during audit.
- [SMSF Glossary](https://superinformed.com.au/smsf-tools/glossary): Clarify terms used across the reference page.

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SMSF Rules & Limits Reference

# SMSF Rules & Limits Reference

This page summarises the key rules, limits, and obligations that apply to Australian self-managed super funds.
It covers trustee requirements, investment restrictions, contribution rules, pension rules, audit obligations,
and ATO compliance powers. All figures are current for FY2025-26 unless noted. For contribution cap detail, see
the Contribution Caps Hub .
For key dates, see the SMSF
Compliance Calendar .

Last updated
May 2026

Next review
July 2026

Current
FY2025-26

Print / Save as PDF

On this page

01
Key Numbers

02
Trustee Rules

03
Investment Rules

04
Contribution Rules

05
Property Rules

06
Pension Rules

07
Audit & Reporting

08
Compliance & Penalties

09
Common Questions

!

Upcoming change - 1 July 2026
Division 296 tax: From the 2026-27 income year, individuals with a total super balance above
$3M will pay an additional 15% tax on earnings attributable to the amount over $3M. This applies at the
individual level, not the fund level. It is not in effect for FY2025-26. If your balance is approaching $3M,
consider discussing the implications with your adviser or SMSF specialist before 1 July 2026. For a consolidated
summary of the caps, Payday Super and service changes starting on the same date, see What Changes for SMSFs on 1 July 2026 .

Section 01

## Key Numbers at a Glance

The most-referenced figures for FY2025-26, split between fixed SMSF limits and figures that depend on a member's total super balance, age, or contribution history.

Confirmed current FY2025-26

### Fixed SMSF limits

Item
Amount

Superannuation guarantee rate
12% From 1 July 2025 onward.

SMSF supervisory levy
$259 per year Existing funds; paid with the annual return.

In-house asset limit
5% of fund assets Measured at financial year end.

Maximum SMSF members
6 Trustee/member alignment rules still apply.

### Conditional caps and balance limits

Item
Amount

Concessional contributions cap
$30,000 Before carry-forward amounts; all funds combined.

Non-concessional contributions cap
$120,000 Only if TSB was below $2M at 30 June 2025.

Three-year bring-forward maximum
$360,000 Depends on age and TSB thresholds.

General transfer balance cap
$2M Personal cap may differ if pension started earlier.

Carry-forward CC eligibility
TSB under $500,000 Prior 30 June test; unused caps expire after 5 years.

Contribution caps need context: The figures above are the headline FY2025-26 limits. They do not replace the detailed TSB thresholds, bring-forward tiers, age rules, carry-forward expiry rules, or excess contribution treatment covered in the Contribution Caps Hub . Key compliance dates are on the SMSF Compliance Calendar .

Section 02

## Trustee Rules

Every SMSF must have trustees who meet the legal requirements under the Superannuation
Industry (Supervision) Act 1993 (SIS Act). A trustee can be either individuals or a company acting as a corporate
trustee.

Confirmed current FY2025-26

TU

### Who can be a trustee

Individual trustees: Every member must be a trustee, and every trustee must be a member. A
fund with individual trustees requires at least 2 trustees.

Corporate trustee: A company acts as trustee. Every member must be a director of the
company, and every director must be a member. Only 1 corporate trustee is required, regardless of how many
members the fund has.

Single-member funds: Can have 1 individual trustee who is not a member (typically a relative
or another person), or a corporate trustee with 1 or 2 directors.

Maximum members: 6.

DQ

### Disqualified persons

A person is disqualified from acting as an SMSF trustee (or director of a corporate trustee) if they:

- Have been convicted of an offence involving dishonesty

- Are subject to a civil penalty order under the SIS Act

- Are insolvent (bankrupt or under a personal insolvency arrangement)

- Were a trustee of a fund that received a non-complying notice in the past 10 years

- Have been disqualified by the ATO

Source: s120 Superannuation Industry (Supervision) Act 1993.

DC

### Trustee declaration

- New trustees must sign the ATO trustee declaration (NAT 71089) within 21 days of becoming
a trustee or director

- Signed declarations must be kept for at least 10 years

- The declaration confirms the trustee understands their obligations under superannuation law

CT

### Corporate trustee vs individual trustees

Feature
Corporate Trustee
Individual Trustees

Asset titling
Company name - does not change when members join or leave
All trustee names - must be updated with each membership change

Setup cost
Higher (company registration plus ASIC annual review fee)
Lower

Liability
Company is the trustee - some separation from personal assets
Personal liability applies to each trustee

Single member
One director permitted
Requires a second trustee who is not a member

Succession
Simpler - fund continues if a member dies
More complex restructuring required

▲ Why it matters

A corporate trustee is generally considered best practice. Because assets are held in the company name, no
re-titling is required when a member joins, leaves, or passes away. Individual trustee structures require
every asset title to be updated with each membership change - creating administrative cost and the risk of
incorrectly titled assets.

Section 03

## Investment Rules

SMSF investments are governed by several fundamental rules under the SIS Act. Breaching
these rules can expose trustees to significant penalties and risk non-complying fund status.

Confirmed current FY2025-26

SP

### Sole purpose test

The fund must be maintained for the sole purpose of providing retirement benefits to
members, or death benefits to their dependants. This is the foundational rule all SMSF investments must
satisfy.

Any investment that provides a current-day benefit - financial or otherwise - to a member or related party
risks breaching this test. Examples include: using fund property for personal enjoyment, purchasing artwork or
collectibles stored at a member's home, and loans structured to benefit a related party.

▲ Why it matters

The sole purpose test is the most broadly applied rule in superannuation law. It underpins nearly every
other investment restriction. The ATO can apply it to arrangements that are technically legal in structure
but benefit a trustee or member today rather than at retirement. There is no bright-line definition -
trustees need to assess each investment on its merits.

Source: s62 SIS Act.

IH

### In-house asset rule

No more than 5% of the fund's total assets can be in-house assets at the end of a financial
year.

In-house assets include: loans to related parties, investments in related trusts, and assets leased to a
related party.

Exception: Business real property leased to a related party on arm's length terms is not
classified as an in-house asset. See Property Rules below.

Source: Part 8 SIS Act.

AL

### Arm's length rule

All investments must be made and maintained on arm's length terms . The price paid for an
asset, and the return earned from it, must reflect what two unrelated parties would agree to.

Common risks: acquiring assets below market value, providing loans at below-market rates, and charging
below-market rent on a leased asset.

Source: s109 SIS Act.

IS

### Investment strategy

Trustees must document a written investment strategy that covers: risk and return objectives, diversification
across asset classes, liquidity (the fund's ability to meet obligations as they fall due), and insurance needs
of members.

The strategy must be reviewed regularly and updated to reflect the fund's actual investment mix. The ATO has
flagged that generic, template strategies are inadequate and may result in a compliance finding during audit.

▲ Why it matters

Failing to maintain a current investment strategy is a breach with a 10-unit administrative penalty
(currently $3,300 per trustee). More importantly, a strategy that doesn't reflect the fund's actual holdings
gives auditors cause to question whether the fund is being properly managed. Review the strategy at least
annually, or whenever the fund's investments change materially.

Source: Regulation 4.09 SIS Regulations.

IN

### Insurance inside an SMSF

Trustees must consider the insurance needs of members when preparing or reviewing the investment strategy.
This does not mean insurance is compulsory - but the consideration must be documented.

SMSFs can hold the following types of insurance for members:

- Life insurance (death cover) - premiums are generally deductible to the fund

- Total and permanent disability (TPD) - the policy definition must align with a
superannuation condition of release

- Income protection - premiums are generally deductible to the fund

Terminal illness and trauma cover can present complications inside an SMSF due to condition of release rules.
Consider seeking advice before including these in the fund.

Section 04

## How Do SMSF Contribution Rules Work?

This section covers the core rules that govern how contributions work inside an SMSF.
Contribution caps depend on total super balance, age, bring-forward timing, carry-forward availability and
contributions made to all funds. Use the Contribution Caps Hub
when you need the detailed cap tables, TSB thresholds, carry-forward expiry rules, downsizer rules and excess
contribution outcomes.

Confirmed current FY2025-26

CC

### Concessional contributions

Before-tax contributions. Includes employer contributions (including SG), salary sacrifice, and personal
contributions for which a tax deduction is claimed.

Concessional contributions are taxed at 15% inside the fund (or 30% for higher-income
earners subject to Division 293 tax). They count toward the annual concessional cap regardless of source.

If your total super balance was under $500,000 at the prior 30 June, you may be able to carry forward unused
concessional cap amounts. Unused concessional caps expire after 5 years, so older buckets need to be checked before year-end.

NC

### Non-concessional contributions

After-tax personal contributions. No tax deduction is claimed and no tax applies inside the fund on
contribution.

Non-concessional contributions are not available if your total super balance reached $2M or more at the prior
30 June. Members under 75 may be able to trigger a bring-forward arrangement, contributing up to 3 years'
worth of the cap in a single year - subject to TSB thresholds. Members aged 67 to 74 must also meet the work
test to make personal contributions.

TSB at 30 June 2025
Maximum NCC in FY2025-26
Bring-forward period

Below $1.76M
$360,000
3 years

$1.76M to below $1.88M
$240,000
2 years

$1.88M to below $2M
$120,000
1 year

$2M or more
Nil
Not available

Bring-forward eligibility changes near the transfer balance cap, so trustees should confirm the exact tier before making large after-tax contributions.

Exceeding a cap: Excess concessional contributions are included in assessable income and taxed
at the member's marginal rate (with a 15% offset). Excess non-concessional contributions attract a choice to
withdraw the excess or leave it in the fund and pay a flat tax. Penalties apply in both cases. Always track
contributions across all funds, not just the SMSF.

Section 05

## Property Rules

SMSFs can invest in property, but the rules differ significantly between residential and
business real property. Related party transactions are subject to strict restrictions. Tax outcomes on future
capital gains may also be affected by the SMSF budget 2026
CGT and negative gearing proposals .

Confirmed current FY2025-26

RP

### Residential property

SMSFs can invest in residential property, subject to strict restrictions:

- Cannot be acquired from a related party (with very limited exceptions)

- Cannot be occupied by a member or related party

- Cannot be rented to a member or related party

- Must be leased to unrelated tenants at market rates

▲ Why it matters

Allowing a family member to live in or use a residential property held by the fund - even temporarily, even
rent-free - is likely to breach both the sole purpose test and the in-house asset rules. This is one of the
most common compliance failures the ATO identifies in SMSF audits.

BP

### Business real property (commercial)

Business real property is property used wholly and exclusively in a business.

An SMSF can: acquire business real property from a related party (including a member), and lease it back to a
related party (including the member's own business). Both the acquisition and the rental must be at arm's
length and at market rates.

This is a common and legitimate strategy for small business owners wanting their SMSF to own their business
premises. Business real property leased to a related party on arm's length terms is not classified as an
in-house asset.

LB

### Limited Recourse Borrowing Arrangements (LRBA)

An LRBA allows an SMSF to borrow money to acquire a single asset (or a collection of identical assets with
the same market value). The borrowed funds are used to purchase the asset, which is held in a separate holding
trust (bare trust) until the loan is repaid. The lender's recourse is limited to that asset - it cannot claim
other fund assets in a default.

Once the loan is fully repaid, the asset transfers to the SMSF. LRBAs apply to both property and listed
securities.

Related party LRBAs: If the lender is a related party, the loan must be on commercial
terms consistent with ATO Practical Compliance Guideline PCG 2016/5. The ATO publishes safe harbour interest
rates and conditions that must be met.

TSB impact: LRBA balances may be included in a member's total super balance, which can
affect contribution eligibility. Consider seeking advice if your fund holds or is considering an LRBA and your
balance is approaching relevant thresholds.

Section 06

## Pension Rules

Once a member meets a condition of release, they can commence a pension from their SMSF.
The tax treatment and withdrawal rules depend on the pension type, the member's age, and the condition of release
met.

Confirmed current FY2025-26

CR

### Conditions of release

Superannuation benefits are preserved until a member meets a condition of release. The most common conditions
for SMSF trustees are:

- Retirement: Ceasing employment after reaching preservation age (age 60 for those born on
or after 1 July 1964) with no intention of returning to work, or ceasing any employment arrangement after
turning 60

- Turning 65: A full condition of release regardless of employment status

- Transition to retirement (TTR): Reaching preservation age (restricted access - no lump
sums, maximum 10% drawdown per year)

- Terminal medical condition: Two medical certificates confirming a terminal illness likely
to result in death within 24 months

- Permanent incapacity: Unable to work in any occupation for which the member is qualified

- Death: Benefits paid to dependants or the estate

- Severe financial hardship or compassionate grounds: Subject to ATO approval, limited
amounts only

See the SMSF Glossary for definitions
of preservation age and related terms.

AB

### Account-based pensions

The most common SMSF pension. A member can commence an account-based pension once they meet a full condition
of release - most commonly, retirement or reaching age 65.

- Earnings on assets supporting the pension are tax-free (via ECPI - see below)

- A minimum amount must be withdrawn each year (based on age)

- No maximum drawdown limit other than the account balance

- Pension payments are generally tax-free for members aged 60 and over

EC

### Exempt current pension income (ECPI)

ECPI is the mechanism that makes investment earnings from pension-phase assets tax-free. It is claimed in the
fund's annual return. There are two methods:

- Segregated method: Specific assets are identified as supporting pension liabilities. All
income and gains from those assets are 100% exempt. Applies where all members are in retirement phase and
the fund has a single pool of assets.

- Proportional (unsegregated) method: Used where the fund has both accumulation and
pension-phase members, or where a member has a defined benefit interest. An actuary calculates the exempt
proportion each year.

Funds with members who have balances in both accumulation and pension phase generally cannot use the
segregated method. The method used affects how the fund prepares its financial statements and tax return.
Consider seeking advice from your SMSF auditor or accountant on which method applies.

MD

### Minimum drawdown rates

Calculated as a percentage of the account balance at 1 July each year, or at commencement (pro-rated from the
start date if starting mid-year).

Age
Minimum drawdown

Under 65
4%

65-74
5%

75-79
6%

80-84
7%

85-89
9%

90-94
11%

95 and over
14%

Age 64, $600k balance
4% = $24,000 minimum

Age 72, $600k balance
5% = $30,000 minimum

Age 80, $600k balance
7% = $42,000 minimum

Calculate your own minimum: Use the SMSF Pension Planner to estimate minimum drawdowns, transfer balance cap space and drawdown projections for your own balance.

▲ Why it matters

Failing to meet the minimum pension drawdown in any year means the fund does not meet the conditions for
pension phase tax treatment. The ATO can deem the fund to have been in accumulation for that year - removing
the tax-free earnings benefit. This is one of the most costly and common errors in SMSF pension
administration. For the current 2026 deadline, see the detailed
SMSF pension minimum drawdowns guide .

TR

### Transition to retirement (TTR)

Available from preservation age (age 60 for anyone born on or after 1 July 1964). Lets
members draw down super while still working.

- Minimum: same age-based rates as account-based pensions

- Maximum: 10% of account balance per year

- Earnings in TTR phase are taxed at 15% (not tax-free)

- Lump sum withdrawals are not permitted

Once a member meets a full condition of release (such as retiring after reaching preservation age), the TTR
pension can be converted to a retirement phase account-based pension and the 15% earnings tax no longer
applies.

TB

### Transfer balance cap

The transfer balance cap (TBC) limits how much super can be moved into the tax-free retirement (pension)
phase.

- General TBC for FY2025-26: $2M

- Each individual has a personal TBC based on their history of retirement phase transfers

- Exceeding the cap results in an excess transfer balance, which attracts tax on notional earnings above the
cap

- The general TBC is indexed to CPI in $100,000 increments

The personal TBC is determined by the general cap in place when a member first enters retirement phase. If
you commenced a pension before 1 July 2025 when the cap was $1.9M, your personal cap may differ from the
current general cap. Consider seeking advice if you are approaching or have exceeded your personal cap.

DB

### Death benefits

When a member dies, the fund must pay out their benefit. The benefit can be paid as a lump sum or, in some
cases, as a continuing income stream (death benefit pension). The rules differ depending on the recipient and
the fund's trust deed.

Binding death benefit nominations (BDBN): A valid BDBN directs the trustee to pay the
benefit to the nominated person(s). Without a valid BDBN, the trustee has discretion to determine who receives
the benefit. BDBNs must generally be renewed every 3 years unless the trust deed provides for a non-lapsing
nomination. See the SMSF death benefits guide for a fuller explanation.

Eligible recipients: Super death benefits can only be paid to dependants (spouse, children,
or someone in an interdependency relationship) or to the estate. Adult financially independent children
generally cannot receive a super death benefit as a pension - only as a lump sum.

Tax on death benefits: The tax treatment depends on the recipient's relationship to the
member, the tax components of the benefit, and the recipient's age. Lump sums to dependants (as defined for
tax purposes, including spouses) are generally tax-free.

Estate planning within an SMSF is complex. Trust deed rules, BDBN validity, corporate trustee structures,
and the interaction between super and the estate all require careful review. Consider professional advice
well before it becomes urgent.

Section 07

## Audit & Reporting

Every SMSF has annual audit, lodgement, and reporting obligations. Missing these
obligations can result in administrative penalties and ATO attention.

TBAR reporting updated January 2026

AU

### Annual audit

Every SMSF must be audited annually. Key requirements:

- Auditor must be a registered SMSF auditor (registered with ASIC)

- Auditor must be independent of the fund and its trustees

- The audit covers both the financial statements and compliance with superannuation law

- The audit must be completed before the fund's annual return is lodged

Provide all supporting documents to the auditor promptly. Delays in producing records are a common cause of
late return lodgement - which itself triggers penalties.

AR

### SMSF annual return

The SMSF annual return is lodged with the ATO each year. It covers income tax, regulatory compliance, and
member reporting.

Lodgement deadlines:

- Self-lodging funds: 31 October of the following year

- Via a registered tax agent: Extended deadline, typically February or May depending on the
agent's lodgement program

▲ Why it matters

Late lodgement of the annual return triggers a failure-to-lodge penalty and can result in the fund's
complying status being flagged as "non-complying" on the Super Fund Lookup register - which affects the
fund's ability to receive employer contributions. Check the SMSF Compliance
Calendar for exact due dates.

TK

### Transfer Balance Account Report (TBAR)

Trustees must report certain events that affect a member's transfer balance account. Reportable events
include: commencing a retirement phase pension, commuting (stopping) a pension in full or in part, and
receiving a death benefit income stream.

Updated from 1 January 2026

All SMSFs must now report quarterly , within 28 days of the end of each quarter. The
previous $1M asset threshold has been removed. If no reportable event occurred in a quarter, no lodgement is
required. Quarterly deadlines align with the standard quarter end dates (30 September, 31 December, 31
March, 30 June).

Check the SMSF Compliance
Calendar for exact TBAR due dates each quarter.

Section 08

## Compliance & Penalties

The ATO is the sole regulator of SMSFs. Its compliance powers are significant.
Understanding what the ATO can do - and what commonly goes wrong - helps trustees manage risk proactively.

Confirmed current FY2025-26

AT

### ATO compliance powers

The ATO has a broad range of enforcement tools:

- Non-complying declaration: A non-complying fund pays tax at 45% on its taxable income -
effectively penalising the entire fund balance

- Trustee disqualification: The ATO can disqualify an individual from acting as an SMSF
trustee or director of a corporate trustee

- Rectification directions: The ATO can direct trustees to take specific steps to fix a
breach within a set timeframe

- Education directions: The ATO can require trustees to complete an approved course

- Administrative penalties: Applied per breach (see below)

- Enforceable undertakings: The ATO may accept a formal undertaking from trustees in lieu
of other action

AP

### Selected common administrative penalties

This table lists selected common SMSF administrative penalties, not every breach in the SIS Act. Administrative penalties apply per breach. For individual trustee structures, penalties apply to each trustee
separately. For corporate trustees, the penalty applies to the company - not to each director individually.

Penalty amounts are expressed in penalty units. The current value is $330 per unit (indexed
from 7 November 2024).

Breach
Penalty units
Amount per trustee*

Loans to members (s65)
60 units
$19,800

Acquiring assets from related parties (s66)
60 units
$19,800

In-house asset limit exceeded (s75)
60 units
$19,800

Trustee declaration not retained (s104A)
10 units
$3,300

Investment strategy not prepared or maintained
10 units
$3,300

Minutes and records not maintained (s103)
10 units
$3,300

Late annual return or TBAR reporting
ATO failure-to-lodge or compliance action
Varies

*Based on $330 per penalty unit (indexed 7 November 2024). For individual trustee
structures, penalties apply separately to each trustee. For corporate trustees, the penalty applies to the
company.

CB

### Most common SMSF compliance failures

The ATO regularly publishes data on the most common compliance failures in SMSFs:

- Lending money to a member or related party (prohibited under s65)

- Acquiring residential property from a related party

- Allowing a member or related party to use fund property

- Exceeding the 5% in-house asset limit

- Missing minimum pension drawdowns for the year

- Failing to maintain or review the written investment strategy

- Not engaging a registered SMSF auditor or failing to complete the audit before lodgement

- Late lodgement of the annual return

- Late or missed TBAR reporting after a reportable pension event

RF

### Rectification and the ATO's approach

When a breach occurs, early and voluntary engagement with the ATO is generally advisable. The ATO has a
published compliance approach and frequently works with trustees to rectify issues rather than applying the
most severe penalties - particularly for first-time or inadvertent contraventions.

Trustees who self-identify a breach, take steps to fix it promptly, and contact the ATO proactively are
generally treated more favourably than those where the breach surfaces during an audit or review.

Consider seeking advice from a licensed SMSF specialist or SMSF auditor if your fund has experienced a
potential compliance issue.

Common Questions

## SMSF Rules and Limits: Common Questions

These answers cover the most common SMSF rule and limit questions trustees need to check before making decisions or accepting transactions.

### Can I live in a property owned by my SMSF?

No. A member or related party cannot live in or use residential property owned by the SMSF, even temporarily or at market rent. This can breach the sole purpose test and related party rules.

### Can my business rent commercial property from my SMSF?

Yes, if the property is business real property and the lease is on arm’s length terms at market rent. Residential property cannot be rented to a member or related party.

### What is the SMSF in-house asset limit?

In-house assets must not exceed 5% of the fund’s total assets at the end of a financial year. In-house assets can include loans to related parties, investments in related trusts and some related party leases.

### What happens if I miss my SMSF pension minimum drawdown?

If the minimum pension payment is not made by 30 June, the pension may fail to meet the pension standards for that year. The fund can lose pension-phase tax treatment for assets supporting that pension unless ATO relief applies.

### How many members can an SMSF have?

An SMSF can have up to 6 members. The trustee structure must still satisfy the rule that members and trustees, or members and corporate trustee directors, align correctly.

### Does every SMSF need an annual audit?

Yes. Every SMSF must be audited each year by an independent registered SMSF auditor before the SMSF annual return is lodged.

### When does an SMSF need to lodge TBAR?

SMSFs report transfer balance account events quarterly. Reports are generally due within 28 days after the end of the quarter in which the reportable event occurred.

### Can an SMSF lend money to a member or relative?

No. SMSFs are prohibited from lending money or providing financial assistance to members or their relatives. This is one of the most serious and common SMSF compliance breaches.

### What are the main SMSF contribution caps for FY2025-26?

For FY2025-26, the concessional contribution cap is $30,000 and the annual non-concessional contribution cap is $120,000, subject to total super balance and other eligibility rules.

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