ATO Cancels the ABN’s of Thousands SMSF’s

The ATO has recently cancelled the ABN’s of over 9,000 Self-Managed Super Fund (SMSF) as part of its non – lodgement swoop.
The reason behind cancellation of the ABN’s is because the SMSF’s have overdue tax returns and are therefore considered to be showing “no evidence of operating".
The ATO will be contacting more SMSF trustees with overdue returns requesting them to lodge. The ATO have also said that will be taking further compliance and audit action on selected SMSF’s.
Are you the trustee of a SMSF with overdue tax returns? Avoid the ATO’s firing line and contact us to prepare your SMSF returns. We also have an in-house ASIC registered SMSF auditor for compulsory auditing of the fund.

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