ATO SMSF announcements

Share

Trustees of SMSFs can subscribe to SMSF News  to receive announcements from the ATO relevant to their fund.

For example, on 19 December 2012, the ATO made this announcement:

We have recently undertaken a review of the Trustee declaration (NAT 71089) and the associated fact sheet Self-managed super funds – key messages for trustees (NAT 71128). 

As a result of this review, changes have been made to both documents.

The most notable changes to the 2012 version of the Trustee declaration are the following inclusions:

  • requirement that the investment strategy be regularly reviewed
  • consideration of whether the fund should hold insurance cover for members
  • declaration that trustees of SMSFs are aware that they do not have access to the government’s financial assistance program in case of financial loss due to fraudulent conduct or theft.
In Self-managed super funds – key messages for trustees, we have provided information for trustees about the protection of super in SMSFs. All new trustees (and directors of corporate trustees) of SMSFs must complete and sign the Trustee declaration to show they understand the trustee duties and responsibilities under super law.
Share
Print Friendly, PDF & Email

No comments yet.

Leave a Comment:

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Register for our free weekly newsletter

New registrations receive free copies of our special investment ebooks.