Mclowd users frequently ask how to enter the ATO Supervisory Levy. All SMSF funds are required to pay this levy each year. The amount varies from year to year.
Mclowd automatically factors this levy into Section D: Income Tax of your income tax return, at Row L.
Check to verify that the amount is correct. Normally, if you are completing your period close in the financial year immediately following the year you are closing, the amount will be correct. If you are preparing a late return or amending a prior year return, you may need to adjust the amount.
You can see the levy here:
