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Rosny Park accountant

New super reforms for SMSFs

In the 2011-2012 Federal Budget, the government announced a range of super reforms that would be introduced for self-managed super funds (SMSFs). These were designed to improve the super system and better safeguard the retirement savings of Australians. If passed by parliament, the following changes will into effect over the next couple of years:

  • the ATO will apply administration penalties for non-compliance by SMSF trustees
  • there will be a knowledge and competency requirement for SMSF service providers, including the registration of SMSF auditors
  • SMSFs will need to value their assets at net market value
  • the ATO will collect and publish data on SMSFs
  • the registration and rollover processes of SMSFs will be changed
  • illegal early release penalties will be introduced to deter the use of SMSFs for illegal activity
  • SMSF auditors will require registration

Hobart accountant OFFICE LOCATION

Suite 4, 1st floor
30 Bayfield Street
ROSNY PARK TAS 7018

Hobart accountant MAILING ADDRESS

PO BOX 526
ROSNY PARK TAS 7018

Hobart accountantGET IN TOUCH

Phone: 03 6244 5144
Fax: 03 6244 5065
Email: info@alomesfinancial.com.au