The last 12 months have seen a flurry of litigation involving SMSFs and the ATO. This has been an important development for SMSFs and practitioners alike, as we are now seeing how the ATO will enforce the super and tax rules relating to SMSFs and the Courts' interpretation of those rules. This presentation covers the vital 'take out' points for practitioners such as:
- Excess contributions tax - how taxpayers have gotten themselves into trouble and lessons to be learnt from the AAT, including timing issues arising from BPay
- Early access schemes and how the victim can become the offender
- Non-compliance and where responsibility really lies
- Enforceable undertakings - what happens when they've contravened
- De-registration of SMSF auditors and what sort of behaviour can disqualify a practitioner.