The ATO will streamline the transfer balance account reporting period from 1 July 2023 and reduce the timeframe for SMSFs.

The ATO will continue its practice of not deploying compliance resources to address non-arm’s length expenditure breaches of a general nature.

ATO figures show the regulator’s risk assessment action over the past couple of years has protected over $270 million of retirement savings.

New detailed text alerts from the ATO regarding changes in an SMSF are legitimate and part of an upgraded anti-fraud system.

Changes to insolvency laws mean the disqualification of corporate trustees can now occur in cases where restructuring takes place.

The ATO will not take compliance action against funds that have not reported a TBA event after the commencement of a new pension in the interim.