The AAR deadline for 2018-19 is approaching, and practitioners are reminded of their obligation to lodge a completed AAR and pay the applicable realisations and interest charge.
The due date for returns to be filed by insolvency practitioners has changed from 35 calendar days after the end of the financial year, to 25 business days.
This means that Annual Administration Returns (Annual Estate Returns) for 2018–19 must be filed by 2 August 2019. Realisations charge and interest charge payments for 2018–19 will be due and payable by Monday 5 August 2019.
We recommend that all necessary enquiries be made well before Friday 2 August.
As with the last AAR lodgement, the AAR online site is the central contact point, not only for accessing your AAR online and facilitating payment, but also to access relevant information about the AAR online process.
As a reminder, AAR Online has the following features:
- it's available to all registered and controlling trustees and debt agreement administrators and AAR data can be updated and lodged at any time during the year
- practitioners are able to view the running total of all their Realisations and Interest Charge receipts and liabilities at any point in time:
- AAR Online reports Realisations and Interest Charge payments at the practitioner level, not against each individual administration
- practitioners remain responsible for conducting an overall reconciliation and ensuring the accuracy of data provided to AFSA. This will continue to be included in our regulatory oversight.
- AAR Online offers additional, streamlined payment options. The AFSA Payment Advice from AAR Online is unique to each practitioner. Payments can still be made by cheque, but must be sent to the new address as detailed on your AFSA Payment Advice. EFT payments must use the new account details as detailed on your AFSA Payment Advice. (BSB and account numbers are unique to each practitioner.)
If you have any queries or need assistance in completing your AAR and making payments, it is strongly recommended that you start by referencing:
- the AAR Online Services Guide – AUSKey Account Users
- the AAR Online Services Guide – User Management Username and Password Account Users
- the AAR Online Services Guide – Obtain lodge and view
- the AAR Frequently Asked Questions (FAQ) page – AAR FAQs.
The following Inspector-General Practice Statement and Direction have also been designed to assist you with your queries:
If, after consulting these reference materials, you are unable to resolve an issue, you can contact us for assistance by lodging an AAR support form or an incident report form. Please submit your queries through these online forms rather than calling or emailing AFSA as this will allow us to properly manage and monitor your enquiry. We will contact you within 2 days of receipt of your online form.
A practitioner has an obligation to lodge AARs and pay realisations and interest charge by the due date even where enquiries have been made with AFSA and a response is yet to be provided. Consequently practitioners should commence the process of lodging AARs, and payment of realisations and interest charges, as soon as possible to ensure there is adequate time to comply with these obligations.