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SMSF annual returns due soon

The Taxation Office is writing to trustees reminding them that SMSF annual returns are due by 15 May 2013.

The letters include some serious warnings:

  • the fund may be given a notice of non-compliance, resulting in the loss of its concessional tax treatment, or
  • criminal penalties may be imposed against the trustees through the courts.

There is also a reminder that the assets must be set aside for the benefit of members.

 

  •   22 March 2013
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