More than 16,500 SMSFs are being scrutinised by the ATO as they allegedly reported certain classes of assets at the same value for at least three income years.
A trustee doesn’t need to show reasons why they made a decision, they will only need to show they followed a proper decision-making process, says a specialist legal adviser.
There was a dramatic decrease in the number of SMSF wind-ups from 2018 to 2023, indicating that the SMSF sector is outperforming APRA funds in both returns and customer satisfaction, says a leading educator.