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Mahiyadav0203(Enthusiast)Enthusiast
7 Jan 2025

We have setup the below SMSF on 6/01/2023 and soon after that we opened the bank account for the SMSF however, the first transaction date has incurred during FY2025 hence, can you please advise us how can we complete the income tax return for FY2023 and FY2024 for this SMSF.


  • Will ATO accept the RNN for FY2023 if we lodge the RNN request through ATO with bank statement (1st transaction date has incurred during FY2025), If yes then how can we lodge ncome tax return for FY2024 soon after lodging RNN for FY2023
  • If No, then how can we lodge income tax return for FY2023 and FY2024 for this SMSF to make everything up to date.


SMSF's Name - [Removed by moderator]

SMSF's ABN - [Removed by moderator]


Can you please help us with best solution for above queries.


Regards,

Mahima

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BrookeATO(Community Support)Community Support
13 Jan 2025

Hi @Mahiyadav0203


The general rule of thumb is that if you've got nothing to report on your return, you can lodge a non-lodgment advice (AKA return not necessary). From what you've described, it sounds appropriate to lodge an RNN for the 2022/23 and 2023/24 financial years.


Check out more info on Non-Lodgment Advice on our website.

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Most helpful reply

BrookeATO(Community Support)Community Support
13 Jan 2025

Hi @Mahiyadav0203


The general rule of thumb is that if you've got nothing to report on your return, you can lodge a non-lodgment advice (AKA return not necessary). From what you've described, it sounds appropriate to lodge an RNN for the 2022/23 and 2023/24 financial years.


Check out more info on Non-Lodgment Advice on our website.

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Return Not Necessary or Nil Income Tax Return for Two Financial Years for SMSF | ATO Community