ATO to roll out myGovID to SMSF auditors
The ATO will look to include SMSF auditors in its myGovID rollout late next year as the ability for real-time reporting in the SMSF...
Investment Strategy 2020 Financial Year
As part of the broader guidance on investment strategies, the ATO will soon release further confirmation to SMSF trustees and...
ATO Review into Auditor Number Abuse
ATO information analysis and investigation have allowed it to determine the types of SMSF auditor number abuse present in the sector and...
Is Your SMSF Bank Account in the Name of Your Fund?
Your self-managed super fund (SMSF) needs a bank account in your fund's name to manage the fund's operations and accept contributions of...
ATO Considers non-compliance notices for lapsed lodgers
The ATO may consider further action to spur on SMSF trustees to lodge their annual returns on time, including making funds non-complying...
ATO Unveils SMSF Annual Return Changes
The ATO has released a number of new labels within its SMSF annual return forms, and will be contacting those who have already completed...
Late-lodging SMSFs to have contributions suspended
SMSFs who lodge their annual return more than two weeks late will be suspended from receiving rollovers and employer contributions,...
Received a letter from the ATO about your funds investment strategy? What next?
Trustees that have received an ATO letter and have an SMSF with a large proportion of their investments in a single asset or asset class...
Investment Diversification Requirements for SMSF Strategies
The ATO has notified that at the end of August 2019 they will send letters to approximately 17,000 self-managed super fund (SMSF)...
Limited cost savings from three-year audits
The shift to three-year audits for some self-managed super funds (SMSFs) would not produce significant costs savings for trustees, said...
