The ATO is getting serious about the non-lodgement of self managed super fund (SMSF) annual returns.
The ATO currently has a number of compliance strategies in place to address this issue; however, this year they are taking additional steps to engage the trustees of SMSF’s that have two or more overdue lodgement obligations.
From September 2013, any SMSF with two or more overdue annual returns will have their regulation details removed from the Super Fund Lookup register until they bring their lodgements up to date.
SMSFs affected by this compliance strategy will be unable to receive rollovers and establish new contribution arrangements until they address their lodgement obligations.