The regulator has shared with practitioners the three most significant factors that lead to SMSF regulatory contraventions.

Identity and investment fraud are on the rise among SMSFs and the ATO has acknowledged this development and has a strategy to combat it.

The ATO will not apply penalties or interest on varied PAYG instalments for COVID affected SMSFs provided they can prove they took reasonable care to estimate their end-of-year tax.

Rollovers into SMSFs using the ATO’s SMSF verification service are being delayed due to a large number of manual verification requests.