Understanding the ATO’s new approach to admin penalties
In this episode of the SMSF Adviser Show, DBA Lawyers director Daniel Butler talks to hosts Miranda Brownlee and Aaron Dunn about the ATO’s new guidance on administrative penalties in PS LA 2020/3 and what it means for SMSFs.
Dan shares his insights on what factors the ATO will typically take into account when deciding to remit a penalty, the types of scenarios where penalties can accumulate to significant amounts and how the PS LA will result in a more consistent approach.
You’re out of free articles for this month
To continue reading the rest of this article, please log in.
Create free account to get unlimited news articles and more!
He also stresses the importance of SMSF professionals encouraging SMSF clients to address any compliance issues as early as possible.
