In October last year, the ATO reported that non-lodgement rates for the SMSF sector had reached critical levels with around 40,000 funds at risk of penalties. SMSFs are required to lodge a return once a year.
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Tens of thousands of taxpayers set for ATO action about super
About 27,000 superannuation funds are on the Tax Office’s radar, and its members are set to be contacted about fulfilling their annual obligations.
