The ATO recently sent letters to 18,000 SMSF trustees with potentially inadequate diversification, which sent a lot of recipients and their advisers into a spin. So what is the ATO really looking for when they regulate the SMSF sector?
In this helpful and engaging conversation, ATO Deputy Commissioner for SMSF Dana Fleming outlines the ATO’s programme of work, including:
- Their real level of concern about borrowing in Super
- What constitutes a well diversified fund - and what doesn’t
- The implications of not lodging your fund’s return on time, and
- How to get it right and stay in the ATO’s good books.