New reporting requirements for superannuation pensions
The Australian Taxation Office (ATO) has released its final position regarding the future of event based reporting for SMSFs. Based on consultation with the SMSF Association and industry, the ATO have confirmed a significant permanent carve out of reporting to the ATO for SMSFs with individuals who have less than $1 million in superannuation. SMSFs with individuals with $1 million or more will be required to report quarterly.
Keep up-to-date with the ATO’s new reporting requirements announcement and whether it will affect you or any members of your fund by downloading our latest paper below.
We recommend you use an SMSF Specialist to assist with your understanding of the ATO’s new reporting requirements for superannuation pensions and how this will relate to your specific circumstances. If you are currently unadvised, use our Find a Specialist function to find your nearest SMSF Specialist.