In my view the transaction is voided. I do not accept that a journal paper transaction is acceptable. Nothing physical has taken place. For a withdrawal something whatever the asset must be physically removed from the fund. You need to prove it exited the fund. This did not take place. For a contribution to take place, something must have entered the fund, this has not taken place. No physical in and out movements. The ATO ( Regulator ) have for a long time taken the view regarding taxation / accounting they will not accept such journal entries. The want to see a physical flow. That is why when you have inter entity loans between companies such physical transactions via bank accounts are done to prove the intent / action. In my view the accounts and tax return would be incorrect, that you have a breach / contravention that needs to have corrective action.