As a trustee, you have until Monday 2 July 2018 to lodge your 2016–2017 Self-managed superannuation fund annual return (SAR) with an election for transitional CGT relief, as part of the super changes that came into effect on 1 July 2017.
WHAT YOU NEED TO DO
If you elect to apply the transitional CGT relief, you need to advise The Australian Taxation Office (ATO) by completing the CGT schedule and lodging it with your return. You make a valid election by selecting Yes on the CGT schedule.
If you have already lodged your 2016–2017 SAR, and have not included an election, or selected No, it is not too late; you can still amend your return before the due date to change or include an election.
CGT relief applies on an asset-by-asset basis, so it's also possible that if you have made an election about a chosen asset, you may be able to lodge an amendment to extend CGT relief to other eligible assets of the SMSF.