Tag Archives: SMSF Australia

Current compliance issues in the SMSF space

The SMSF space has always been a complex area for both trustees, beneficiaries, and advisers. In the past few years, the ATO has made many concessions and has put compliance action on hold because of COVID-19 and its after effects. However, for the 2022-23 year and beyond, it is looking to scale up its compliance program as a reaction to indicators of heightened risk in the sector. One specific area it will be targeting is those failing to lodge annual returns, which has been identified as a red flag leading to illegal early release.

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