ATO set to contact SMSF clients over focus areas

With LRBAs and TBAR two of the major focus areas for the ATO this year, the Tax Office has announced plans to contact trustees with high concentration risk in their funds and toughen its stance on misreporting.

by | 5 Mar, 2019

Trustee behaviour in focus as ATO wins in Administrative Appeals Tribunal

ATO assistant commissioner Dana Fleming said that while there are a few different areas that the ATO is monitoring following the reforms to the superannuation sector; riskier limited recourse borrowing arrangements (LRBAs) and failures with reporting under the transfer balance accounting reporting regime are two areas it rates as medium or high-risk.

Read more at the Accountants Daily.

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