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The ATO and SMSFs: An update

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Published on 01 Jun 15 by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE

The ATO has been working on initiatives to strengthen the self-managed superannuation funds (SMSF) sector to ensure that it achieves its sole purpose: to grow and protect retirement incomes. In this article, the ATO’s Assistant Commissioner, SMSF Segment, outlines some of those initiatives, including technical guidance around the reporting of exempt current pension income, and non-commercial limited recourse borrowing arrangements and other loan arrangements that contravene superannuation laws.

The article also discusses the current state of play, compliance management and service delivery by the ATO, the minimum pension payment requirement, paying pension on death, and forward planning for possibilities including reduced capacity to manage a fund.

Author profile

Matthew Bambrick
Matthew has been Assistant Commissioner for Self-Managed Superannuation Funds since May 2013. He has 23 years experience in tax administration with the ATO. Matthew’s responsibilities include input into policy and law development, implementing new measures, identifying and managing risks related to SMSFs, both for their regulation and their tax obligations; and working with internal and external stakeholders. - Current at 22 April 2020
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