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Imposing administrative penalties on SMSFs

Published on 01 Mar 21 by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE

The administrative penalties regime was enacted into superannuation law in the 2014 with the aim of providing the ATO with a more flexible tool to enforce compliance with superannuation law. Prior to the enactment of the regime, the ATO’s main tool to enforcing compliance was the drastic action of making the errant superannuation fund non-complying.

Author profile

Dung Lam CTA
Dung is a Special Counsel at Coleman Greig Lawyers with more than 20 years’ experience in advising on a wide variety of taxes including income tax, capital gains tax, GST and state taxes such as duty, payroll tax and land tax. Dung also has extensive experience advising on taxation trusts, superannuation issues in the self-managed superannuation funds arena and tax issues related to estate planning. Dung is a Chartered Tax Adviser, full member of the Society of Trusts and Estate Practitioners, an accredited Specialist in Business and Personal Tax with the NSW Law Society, a member of the Business Law Section Taxation Committee of the Law Council of Australia and a member of the NSW Law Society Liaison Committee with the Revenue NSW. Dung advises a broad range of clients ranging from corporates, small to medium enterprises, high net worth individuals, professional firms, accountants, financial planners and their clients. - Current at 24 February 2021
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