Super news – What SMSF trustees need to know about the ATO’s new guidance about the application of administrative penalties
On 15 October 2020, the Australian Taxation Office (ATO) released Practice Statement Law Administration PSLA 2020/3 to guide its staff on how to apply administrative penalties imposed on Self Managed Superannuation Fund (SMSF) trustees under subsection 166(1) of the Superannuation Industry (Supervision) Act 1993 (SIS Act). While the guideline is for ATO staff, SMSF trustees […]