05 Sep 1414
On the lodgment performance of SMSFs
MEMBER 123 writes:
"In recent months I have had two separate instances of SMSFs coming to us from the big super administration companies owned by banks due to poor service. One is still waiting for its 2013 returns and the other has only just been completed. The continued ranting by the self-interested parties (read banks) about the poor compliance and lodgment performance of SMSFs always seems to be reported as being the fault of small firms such as ours. However, I wonder just how much of the sector's poor performance is related to the biggest players who are entering the market. Can the ATO report lodgment performance of the sector by size of agent based on the number of SMSF returns lodged at realistic levels, say from 1-20, 20-100 and greater than 100? Maybe I should be careful of what I wish for but it may enlighten us.
Also, can the ATO assure us that the big firms get no better extensions than smaller firms and that the big players get the same treatment (and counselling) as the smaller players for poor lodgment performance? Do these large poor performers get a multitude of 31 October early lodgments like smaller delinquent firms do? I would hate to think what some of us would suffer if we still had a multitude of outstanding 2013 SMSF returns."