ATO getting tough on those who don’t respond
The Australian Taxation Office said it is instigating stronger action for people who have not met their tax...READ MORE
SMSF lodgement is a major compliance focus for the tax office, and its monitoring and surveillance have found 5000 tax agents are linked to 12,000 problem funds.
About 86 per cent of SMSFs lodge on time every year, and this financial year the ATO is focusing on the 14 per cent of persistent non-lodgers as one of its key compliance targets.
Read the full article on Accountants Daily.