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ATO resolves system issue affecting additional tax on concessional contributions
The ATO has recently resolved an issue affecting the assessment of funds receiving additional tax on concessional contributions.
The ATO has recently issued approximately 30,000 Division 293 assessments for the 2019 and 2020 financial years. Division 293 assessments have been issued due to an ATO systems fix where closed accounts were not included in Division 293 assessments for the 2019 and 2020 financial years.
Read more at SMSF Adviser.
