In a submission to the ATO’s consultation, the Tax Institute said it broadly supports a simplified transfer balance account reporting (TBAR) system for SMSFs.
Read more at SMSF Adviser
Tax Institute pushes for July 2023 start for new TBAR system
In November last year, the ATO released a consultation on moving to a single transfer balance cap events-based reporting framework for all SMSFs. There are currently two different time frames for reporting transfer balance cap events for SMSFs, depending on total super balances.
