Compliance review and breach rectification

We have strong compliance advisory capabilities led by industry experts. We can assist and advise on complex superannuation compliance issues.

We can review your SMSF to identify any potential compliance issues. As experts, our review and advice process is rigorous and tested against the Superannuation Industry (Supervision) Act 1993 and Regulations, and also the income tax legislations. Our technical experts are across Australian Taxation Office rulings and guidelines.

Breach rectification

In situation of breach of the SIS Act and/or Regulations, we can provide practical advice on breach rectification and any potential consequence. In more complex situation that may not be easily unwound, we can assist with early engagement and voluntary disclosure to the Australian Taxation Office for a more positive outcome.

Take immediate action.

Mistakes can happen. Where there are contraventions of the rules, a better outcome will be achieved by taking immediate action or have a plan of action and voluntarily disclosing the contraventions to the ATO. We can assist you with this. The ATO will look upon voluntarily disclosure and rectification action favourably. Don’t ignore it hoping it will go away. The problem will compound over time, and can become more and more difficult to unwind.

In cases of immaterial innocent contraventions, it is best to seek advice and rectify the issue. These cases generally do not escalate further.

ATO audit/ review

ATO audits or reviews are normally initiated by the ATO based on Auditor's Contravention Report lodged by the auditor or information leading the ATO to suspect a breach of the SIS Act and/or Regulations.

Superannuation Accounting Services have been retained to represent SMSF trustees with ATO audit/ review of their SMSF, and are experienced to advice on the ATO audit/ review process. We actively manage your matter for the best possible resolution, including various means of early resolution, such as mediation.

If you have breached any superannuation laws, or unsure, or if you are subject to an ATO audit or review, talk to us. You need specialist that understand superannution laws and experience dealing with ATO processes.

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