ATO SMSF compliance focus for 2007-08

Assistant Deputy Commissioner of Taxation, Ian Read, recently gave a speech on the Tax Office's compliance activities in relation to self-managed superannuation funds (SMSFs) and approved auditors. Mr Read revealed that the Tax Office compliance program for the 2007-08 year is being finalised and will be published and released by the Commissioner early in the new financial year. The compliance coverage of SMSFs will increase to around 10,000 cases for 2007-08 (up from around 3,600 the previous year).