ATO upgrades its DIY super weaponry

Self-managed fund trustees watch out. The ATO has new penalties in place from July 1.

The Australian Tax Office is about to get a whole lot tougher on self-managed super funds, with its available weapons arsenal to punish wayward trustees set to be expanded from mid-year. And its broader weaponry makes more sense too.

Dare I say it, the new penalties are actually good news for self-managed super fund trustees.

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