Newly registered SMSF returns due

The ATO has issued a reminder to trustees of newly registered Self Managed Super Funds that their fund’s 2010 tax return must be  lodged by 28 February 2011. A Self Managed Super Fund must hold assets and Trustees of SMSFs which do not hold any assets must notify the ATO that the fund has been wound up or it’s registration may need to be cancelled. Only SMSFs which have been wound up can report “zero assets”.