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READ MOREHundreds of SMSF ABNs cancelled following ATO surveillance
The ATO has cancelled the ABNs of almost 700 SMSFs following the implementation of its risk model for SMSF establishments and is also keeping a close eye on tax agents connected with problematic SMSFs.
ATO assistant commissioner Dana Fleming said that as part of the ATO’s compliance program called “secure the front door”, the ATO applies an analytical model to all SMSFs at the time of set-up, which identifies whether there are any risks or red flags with the individual setting up the fund.
Read the full article at SMSF Adviser.
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