The ATO has released its Corporate plan 2025-26 and has mentioned specific items relevant to SMSFs.

The ATO will be focusing on the increasing number of outstanding SMSF annual returns. Trustees of such funds can expect to be contacted, particularly those that have not yet lodged 2023, or earlier, and those who are late with lodging their first return.

Trustees that do not release money according to an ATO payment authority, such as on the occurrence of an excess contribution, or paying it but not complying with the requirements to notify the ATO, is also a target.

If a pension member breaches their transfer balance cap the ATO will issue a Commutation Authority which must be complied with, including the lodgement of the appropriate TBAR, within 60 days. If no response occurs within this timeframe, the member’s pension will be terminated. This will cause a loss of exempt income and a mixing of tax components with other superannuation interests in some cases.

The ATO is also focusing on illegal early access.

No mention was made regarding the commencement of a pension outside of the TBAR notification period of 28 days from the end of the quarter, but it cannot be assumed that this will not be on their radar.