The SMSF sector regularly averages a compliance standard of above 90 per cent with the ATO, but niggling and basic issues are often the downfall of even the most well-meaning trustees.
Partner at BDO, Paul Rafton, finds recurring themes each year in the lead up to June 30, which are often easily avoided.
These include:
Moving into the new financial year, the SMSF sector can expect the recurring priority item of non-lodgement to be at the top of the ATO’s agenda.
Late last year, the ATO flagged that about 40,000 SMSFs could be on the chopping block, due to persistent non-lodgement issues.
By: Katarina Taurian
12 APRIL 2018
www.smsfadviser.com
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