Get Ready for the 2026–27 Financial Year: A Checklist for SMSF Trustees

JULY 2026

If you manage your own super through a Self-Managed Super Fund (SMSF), the start of the financial year is a good time to review your fund and make sure everything is in order. While many changes happen behind the scenes, there are a few important areas worth reviewing to help keep your fund compliant and your retirement plans on track.

Here's a practical checklist of the key areas to consider.

1. Review Your Pension Arrangements

From 1 July 2026, the general Transfer Balance Cap increases from $2.0 million to $2.1 million.

If you're already receiving a pension from your super, you may be entitled to an increase in your personal cap. The ATO works this out automatically based on information it has received, so it's important your fund's reporting is up to date.

If you have an older style or "legacy" pension, it's also worth reviewing your options with your adviser, as there may be opportunities available under the current rules.

2. Review Your Contribution Strategy

Contribution limits have increased for the 2026–27 financial year:

• Concessional (before-tax) contributions increase to $32,500

• Non-concessional (after-tax) contributions increase to $130,000

  
  

The amount you can contribute will depend on factors such as your total super balance at 30 June 2026 and whether you've previously used the bring-forward rules.

If you're planning to make larger contributions this year, it's worth checking your eligibility first to avoid exceeding the limits.

3. Check Pension Payments

If you're receiving a pension from your SMSF, make sure you've met the required minimum pension payments for the year.

If you're receiving a Transition to Retirement (TTR) pension, there is also a maximum amount that can be withdrawn each year.

Turning 65 can also change how your pension is treated, so it's a good idea to speak with your adviser before your birthday to understand whether any action is needed.

4. Review Related Party Loan Arrangements

If your SMSF has a loan from a related party, the interest rate should be reviewed each financial year to ensure it continues to meet the ATO's requirements commonly referred to as the ‘safe harbour provisions’.

The rate for the 2025-26 year was 8.95% for property and 10.95% for listed securities.

As a result of increases in the RBA's cash rate over the last 12 months there has been an increase to the safe harbour interest rates to 9.35% and 11.35% for property and listed securities respectively*.

The repayments of any related party loans that are complying with the safe harbour provisions will need to be adjusted to reflect these new rates.

If you're unsure whether your loan arrangements still comply, we can help review them.

5. Check Employer Contribution Arrangements

Changes to SuperStream and the introduction of the New Payments Platform (NPP) mean SMSFs need to be ready to receive employer contributions under the updated system.

If your employer contributes to your SMSF, make sure:

• your fund is able to receive payments through the new system

• any requests from your employer to verify your fund are responded to promptly

• your accountant or SMSF administrator knows employer contributions will be made.

Keeping your SMSF records up to date also helps avoid delays in receiving contributions.

6. Review Division 296 Considerations

New transitional rules apply for the Division 296 tax from the 2026–27 financial year.

For some members with larger super balances, there may be decisions to make about how asset values are treated under the new rules.

These decisions can have long-term implications, so tailored advice is recommended before making any elections.

7. Complete Some Annual Housekeeping

The start of a new financial year is also a good time to review the administration of your SMSF.

Consider whether:

• your trust deed is still appropriate

• your trustee structure remains suitable

• any required changes have been reported to the relevant authorities

• your records are complete and up to date.

Good record keeping makes annual compliance much easier and helps avoid issues if the ATO requests information.

Planning Ahead

A little planning at the start of the financial year can help avoid compliance issues and make managing your SMSF much easier throughout the year.

If you'd like to review your fund, discuss any of these changes, or make sure you're making the most of the opportunities available, please contact our team.  

* Source: Knowledge Shop

This article is general in nature and does not constitute legal, tax, or financial advice. Please consult your professional adviser for guidance specific to your circumstances.

 Before acting on any information, you should consider the appropriateness of the information provided and the nature of the relevant financial product having regard to your objectives, financial situation and needs. In particular, you should seek independent financial advice and read the relevant product disclosure statement (PDS) or other offer document prior to making an investment decision in relation to a financial product (including a decision about whether to acquire or continue to hold).