The not-for-profit body said its members were shocked by the “retrospective nature” of the ruling because an ATO fact sheet from seven years ago had given no hint of what was to come.
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Mum-and-dad businesses ‘blindsided’ by ATO trust ruling, says NTAA
The ATO’s 100A trust ruling has blindsided accountants and trustees from the small end of town, said the National Tax and Accountants’ Association.
