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ATO found wanting on SMSF information

Posted on 12 June '12 by , under General news.

An assessment of the interpretive assistance function of the Australian Taxation Office (ATO) as the regulator of self-managed superannuation funds (SMSFs) has found the timeliness of the service to be wanting.

The ATO’s interpretive assistance role is to provide information to help SMSF trustees understand their rights and obligations and is seen as one of the regulator’s core responsibilities.

The report recommended improving access to the ATO information about SMSFs and about interpretative assistance products may, in turn, increase the level of demand for these products.