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On winding up a Self Managed Super Fund

29 Oct 10 On winding up a Self Managed Super Fund

MEMBER 327 writes:

"Once again the ATO simply does not think things through properly and ends up with a mess. Our office received a notification in June 2010 outlining the correct way to wind up an SMSF. They referred me to a brand new form NAT 73540 which I downloaded and have used twice to date. Today my staff tried to download a copy and it's nowhere to be seen. Instead there is now a Booklet NAT 8107 Winding up an SMSF issued in August 2010. Nowhere in NAT 8107 does it refer to the old NAT 73540.

So in just two months from June 2010 to August 2010 the ATO created a form for us to complete, and lodge, and then withdrew it. We read the booklet today, and the form has now been replaced with "Just write us a letter".

Does the ATO have any concept on how hard it is to keep up with their ridiculous change in systems and policies? Why would a form become redundant in just TWO MONTHS?

If you are going to withdraw a form, have the common decency to leave a link on your website to that form with a polite message "This form has now been withdrawn, please refer to..." It's not hard, ATO. That simple message would have saved us two hours today in running around trying to figure out what the new, new, new revised process is. The booklet is an insult to our intelligence anyway by making such wonderful requests as "Don't close your bank account until all the bills are paid", and my favourite "Don't cancel the ABN, we'll do that for you". That I can’t wait to see.

The NAT 7354 form was quite easy to complete. I'm not writing you a letter, I'll lodge the income tax return as a "Final", and you can take it from there.

Oh and while you’re at it, be a good sport and cancel the GST and PAYG Withholding registrations, and vary the PAYG Instalments to Nil. It shouldn't take you too long to log onto the Portal, stay connected, lodge the requests, time out, start again, vary the instalment, time out, start again."