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Imposing administrative penalties on SMSFs

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Published on 01 Mar 21 by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE

The administrative penalties regime was enacted into superannuation law in the 2014 with the aim of providing the ATO with a more flexible tool to enforce compliance with superannuation law. Prior to the enactment of the regime, the ATO’s main tool to enforcing compliance was the drastic action of making the errant superannuation fund non-complying.

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Dung Lam CTA
Dung is a Principal at West Garbutt and is based in Sydney. Dung has more than 20 years of experience in advising corporates, small-to-medium enterprises, high net worth individuals, professional firms, accountants, financial planners and their clients, on a variety of taxes including income tax, capital gains tax, GST and state taxes such as duty, payroll tax and land tax. Dung also has extensive experience advising on taxation trusts, estate planning and superannuation issues in the SMSF arena. Dung is a Chartered Tax Adviser, full member of the Society of Trusts and Estate Practitioners, an accredited Specialist in Business and Personal Tax with the NSW Law Society, among others. Dung advises a broad range of clients, including corporates, small-to-medium enterprises, high net worth individuals, professional firms, accountants, financial planners and their clients. - Current at 15 June 2022
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