The SMSF Association has come out in full support of the ATO’s recently published Super Scheme Smart material, which is designed to give taxpayers relevant information and cases studies about illegal retirement planning arrangements, including the associated risks and warning signs.

The ATO last week revealed its final position on events-based reporting for SMSFs, announcing this reporting method for SMSFs under its transfer balance account report (TBAR) regime will be limited to those funds with members that have total super account balances of $1 million or more.

The ATO has stated that underinvestment in its technology infrastructure is not to blame for its bout of website and portal outages.

The ATO has hinted it will be examining whether a binding death benefit nomination (BDBN) can affect the treatment of an existing member’s pension upon the death of that member.

The Self-managed Independent Superannuation Funds Association (SISFA) has said it will continue to work closely with the ATO in order to adjust the way its transfer balance account report (TBAR) regime will work for SMSFs.