Wind-ups of SMSFs fell to previously unseen lows in the 2020 financial year, resulting in a much higher number of net establishments compared to 2019, the ATO’s latest statistics reveal.

The process of indexation is likely to be applied to the concessional contributions cap from 1 July 2021 due to the effect of COVID-19, a sector specialist has said.

The ATO has expanded its guidance on how death benefit rollovers should be reported and payments made with specific instructions for SMSFs.