ATO flags delays to SMS alert system
The ATO has informed SMSF trustees that it will be delaying its proposed implementation of a text message alert service notifying them when changes had been made to their fund details.
The text message service had originally been slated to begin on 30 November, however the regulator said it had identified an issue in the testing stage of the alert service that may have lead to some alerts not issuing as designed.
“The alert system is designed to protect SMSF trustees, members and directors from potential fraud and misconduct by automatically detecting instances where we believe information we hold is being misused or has become compromised,” ATO assistant commissioner Dana Fleming told SMSF Adviser.
“For example, when certain details are updated like financial details or member information.”
The ATO originally communicated the delays to implementation of the service on its website on Monday, and had updated the communication by Tuesday afternoon following SMSF Adviser queries to confirm that the alert service had not operating as intended during the testing phase.
“To avoid disruption or concern for SMSF trustees, members and directors we decided to delay the deployment until we can ensure the alert system is operating as intended,” Ms Fleming said.
“No alerts have been sent to trustees, members or directors to date.”
The ATO said it anticipated the issue would be resolved quickly, and it would advise the new date when the alert messages would start going out.
Changes made to SMSF details would continue to be monitored through the ATO’s normal activities.