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About 27,000 superannuation funds are on the Tax Office’s radar, and its members are set to be contacted about fulfilling their annual obligations.
In October last year, the ATO reported that non-lodgement rates for the SMSF sector had reached critical levels with around 40,000 funds at risk of penalties. SMSFs are required to lodge a return once a year.
Read the full article at Nest Egg.