It’s that time of year again – some Self-Managed Superannuation Funds are lodging their income tax returns for the 2020 financial year, and in some instances, this triggers an email and/or text message alert from the ATO. Since February 2020, the ATO has started contacting SMSF trustees directly where certain changes are made to the
From 3 February 2020, the Australian Taxation Office (ATO) will now be sending an SMS and/or email alert to SMSF trustees when changes are made to SMSF details. The SMS text messages will be issued to alert trustees of SMSF when any changes have been made to the fund. These changes include; financial account
SMSF status to change on Super Fund Lookup if the annual return is lodged late ATO have stated from 1 October 2019 if the SMSF return is overdue more than two weeks on any annual return and hasn’t requested a lodgement deferral they will change their status on Super Fund Lookup (SFLU)
A new Australian Taxation Office Campaign As part of their latest campaign, the Australian Taxation Office (ATO) is contacting Self Managed Super Fund (SMSF) Trustees directly where 90% or more of their SMSF’s investments belong to the same asset class (Eg. property).
SMSF Post-Election Update With the Federal Election called in favour of the Liberal Party, SMSF Trustees are likely to be spared from some of the more significant changes that were proposed by the Opposition Leader in the May Budget. The proposed change that perhaps gained the most media attention, and the one that we received