Compliance actions available to the ATO: SMSFs

In response to an increasing number of SMSFs identified as not complying with their superannuation obligations, the ATO has increased scrutiny of the sector. It is essential for SMSF trustees to understand the range of compliance actions available to the ATO in the event of non-compliance and proactive ways to address gaps to avoid more severe consequences for both the trustee and the fund. According to the ATO, where a contravention has occurred, trustees cannot escape consequences by winding up the SMSF and rolling over benefits to an APRA regulated fund.

Click here to read our article