SMSF trustee disqualifications
Did you know that during the 2021-2022 financial year the ATO disqualified 250 SMSF trustees
That's an increase of approximately 27% on the previous year!
Generally, a person will be disqualified where they have contravened the SIS rules and disqualification is the appropriate action taking into account the seriousness of the contraventions.
However, the ATO may also disqualify an individual they consider not to be a 'fit and proper' person.
Alternatively, a person may be disqualified under the SISA, including where they have been convicted of an offence involving dishonesty or are insolvent under administration.
Author
Sajee Madarasinghe
Director
Sajee is a driven CPA and CA (Sri Lanka) with 18 years’ experience predominantly in Audit and Assurance, the last 10 years of which have been focused entirely in the SMSF industry. With senior level roles held in SMSF Audit and Accounting, there is little that Sajee has not encountered, she is truly an expert in her field.
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