OVERVIEW

Dana Fleming, Assistant Commissioner – SMSF Segment, Australian Taxation Office joined the Association’s CEO, John Maroney for an insightful discussion on how the ATO is supporting the super industry and SMSF professionals during COVID-19.

Dana and John covered a range of key issues that SMSF professionals have asked us to discuss with the ATO including:

• Clarity on the ATO’s compliance stance on SMSFs providing rental relief and in-house asset breaches,
• The impact on arm’s lengths arrangements, the possible NALI implications and Transfer Balance Cap issues,
• An update on SMSF annual return lodgement dates, deferrals and penalties.