The document states:
"The Self managed superannuation fund annual return instructions (NAT 71606) will prompt you to begin with a member’s closing balance from the previous financial year. However, you do not need to report this amount on the SMSF annual return. The opening balance is not reported to us, however, it should be:
- the same as the closing balance reported in the previous financial year, or
- a zero amount if the member’s account was opened during the reported financial year."