Money Management --- Page: 11 : 15 November 2007 Original article by Mike Taylor
LexisNexis Summary
The Australian Taxation Office's (ATO) regulation of the self-managed superannuation fund (SMSF) sector could be improved. This is according to a report by the Australian National Audit Office (ANAO), which was released in November 2007. Although the ATO has received more funds with which to monitor SMSFs, the ANAO still feels its processes for identifying and mitigating SMSF compliance risks could be more effective than they are. The ANAO also urged the ATO to ensure that the status of any interpretative decisions it issues concerning SMSFs are made clear to sector participants.
