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With the limited access to transfer balance cap information for clients causing frustration for many SMSF professionals, the ATO has unveiled plans to make it more accessible to tax agents later in the year.
By the end of July 2018, ATO deputy commissioner James O’Halloran said approximately 135,000 SMSFs had reported transfer balance cap information to the ATO, with the ATO issuing approximately 2,000 excess transfer balance determinations to members of SMSFs.
Read the full article at SMSF Adviser.