Don’t become a non-complying SMSF

SMSF technical expert and columnist for The Australian newspaper
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Key points

  • ATO has a broad range of new powers.
  • It can direct you to undertake an education course at your own expense.
  • It also has much greater powers now to impose fines for a range of breaches.

 

The new penalty powers that have been given to the Australian Taxation Office have many wondering what processes the regulator will follow when regulating SMSFs.

Fortunately, the ATO has recently released some information that provides a helpful guide as to how they will use these new powers.

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