Prepare to lodge your quarterly TBAR

On 16/03/2025, the Australian Taxation Office (ATO) issued an update regarding Prepare to lodge your quarterly TBAR. The update reminds SMSFs to report certain events affecting members' transfer balance accounts quarterly using Transfer Balance Account Reporting (TBAR), even if their total superannuation balance is less than $1 million. Late reporting may result in compliance action, penalties, and excess transfer balance tax payments for the member.