The ATO has published a position paper for industry consultation to consider two options in respect to a SMSFs reporting obligations for events that impact a member’s transfer balance account.
In a recent Australian Taxation Office (ATO) SMSF New Measures Consultation Forum (held on 28 March 2017), the ATO indicated that ‘events’ based reporting will be required for the following transfer balance cap events: When a SMSF complies with a commutation issued by the Commissioner; When there is a full commutation of a member SMSF…
