I did receive a letter from my accountant to advise me that I would have to undertake the reporting, with the first report to be done before the end of this financial year. They also advised me that they would charge me $150 for each report lodged by them.
They also advised me that if a SMSF balance was over $1,000,000 the ATO would require the T BAR statement to be completed and lodged each quarter from 1 July 2018. For some this would bring the accountants charge for lodgement to $600 p.a.
I believe that I would be able to do this myself so have just registered for AUSkey so I can complete and lodge the declaration form via the Business Portal.
From what I have read it all looks a pretty simple process to do.
