Document ID: chunk:federal_register_of_legislation:F2017L00529:body:0:p13
Version: federal_register_of_legislation:F2017L00529
Segment Type: other
Provision Reference: 
Character Range: 31265–34080

deficit tax is payable).

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    Requirement to lodge ancillary fund returns

    Under section 163 of the Income Tax Assessment Act 1936, I require every entity that is a trustee of a public ancillary fund (within the meaning of subsection 426-102(1) of Schedule 1 to the Taxation Administration Act 1953) or a private ancillary fund (within the meaning of subsection 426-105(1) of Schedule 1 to the Taxation Administration Act 1953) to lodge an ancillary fund return in the approved form for the year of income (or an approved substituted accounting period), whether or not the ancillary fund is exempt from income tax.

    Note:

    For public ancillary funds and private ancillary funds that are registered as a charity with the Australian Charities and Not-for-profits Commission (ACNC), the ACNC annual information statement that is required to be lodged with the Commissioner of the ACNC is the approved form for the ancillary fund return.

    Note:

    A trustee of a public ancillary fund or a private ancillary fund that is not registered as a charity with the ACNC and that derived income (including capital gains) during the income year is also required to lodge an income tax return under Table L of this instrument.

    Date of lodgment of ancillary fund return

    An entity required to lodge an ancillary fund return whose year of income ends on 30 June 2017 must do so by 31 December 2017.

    An entity that is required to lodge an ancillary fund return that has an approved substituted accounting period must lodge the return no later than the last day of the 6th month after the end of the year of income.

    However, if an entity is registered as a charity with the ACNC and is therefore required to lodge an ACNC annual information statement with the Commissioner of the ACNC, the date of lodgment of the ancillary fund return will be the lodgment date of the ACNC annual information statement as required under section 60-5 of the Australian Charities and Not-for-profits Commission Act 2012, or such further time as the Commissioner of the ACNC allows.

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    Lodgment of returns in accordance with the Superannuation Industry (Supervision) Act 1993 and lodgment of statements in accordance with the Taxation Administration Act 1953

    Where a taxpayer is a trustee of a self-managed superannuation fund as defined in the Superannuation Industry (Supervision) Act 1993 at any time during the year of income ended 30 June 2017 (or approved accounting period instead), then in accordance with section 35D of the Superannuation Industry (Supervision) Act 1993 the period for lodgment of a return under that section is the period ending on the day that the taxpayer is required to lodge their income tax return. This return