Sheree Nitschke

Lodging Your SAR Through a Tax Agent

If you are using a tax agent to lodge your SMSF Annual Return (SAR), know your lodgement date and engage early. If your self-managed super fund (SMSF) had assets, such as super contributions or other investments as of 30 June 2024, you will need to lodge a SMSF annual return (SAR) for the 2023–24 financial year. The SAR is more than a tax return. It’s a requirement to report super regulatory information, member… Read More »Lodging Your SAR Through a Tax Agent

ATO Investigates 16,500 SMSFs for Valuation Compliance

ATO Investigating 16.5k SMSFs Over Valuation Compliance We would like to bring to your attention an important development from the Australian Taxation Office (ATO). The ATO is currently scrutinising over 16,500 self-managed superannuation funds (SMSFs) that have allegedly reported certain asset classes at the same value for at least three consecutive income years. These assets include: Residential and commercial properties Unlisted companies Unlisted trust investments Why Is This Happening? The… Read More »ATO Investigates 16,500 SMSFs for Valuation Compliance