SMSF Association Submission – Consultation Paper – Transition to strengthening client verification

The SMSF Association welcomes the opportunity to provide a submission on consultation paper:
Transition to strengthening client verification (QC65469).

We welcome any measures that seek to improve the integrity of the taxation system, protect
individuals from identity theft and fraud. Further, we particularly welcome measures that seek to
improve the security for Self Managed Super Funds (SMSFs) and more broadly protect individuals
and their superannuation benefits.

This submission covers:

1. What impacts the new client verification method may have on existing process
2. How clients should be prepared for the process
3. What the ATO can do to assist this process
4. Relationship verification challenges potentially faced by clients
5. Verification guidelines