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Unforeseen consequences in ATO late lodgement policy

Unforeseen consequences in ATO late lodgement policy

The ATO’s recently announced policy to incentivise timely lodgement of SMSF annual returns by removing fund details from Super Fund Look Up (SFLU) if they fail to lodge on time could have additional consequences for trustees, according to SuperConcepts.

by Shared by SMSF Adviser | 28 Jan, 2020

Trustee behaviour in focus as ATO wins in Administrative Appeals Tribunal

In a recent blog post, the SMSF service provider’s executive manager of SMSF technical and private wealth, Graeme Colley, said if a late lodging fund had their details removed on the SFLU system, the compliance impacts could mean they would be restricted in what investments they could make until the details were reinstated.