smsf recordkeeping

ATO Targeting SMSFs That Fail To Lodge Annual Returns | Taxwise Australia | (08) 9248 8124

ATO Targeting SMSFs That Fail To Lodge Annual Returns

By Warren Kruger / July 15, 2022 / 0 Comments

The ATO has observed an increase in the number of SMSFs that fail to lodge their first annual return and become what the ATO refers to as ‘NEVER’ lodgers.  The ATO is particularly concerned where there has been a roll-over into these SMSFs, as this is a strong indicator illegal early release of superannuation benefits […]

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Keeping And Maintaining SMSF Records | Taxwise Australia | (08) 9248 8124

SMSF Recordkeeping

By Warren Kruger / March 15, 2022 / 0 Comments

Trustees of SMSFs have been put on notice by the ATO that keeping and maintaining good records is one of their key responsibilities and legal obligations.  Good record keeping ensures trustees can ensure accurate and timely SMSF accounts, audits and income tax return lodgments. As a result, the ATO has recently confirmed that even where […]

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