Coming clean with the regulator
from The SMSF Adviser Show Hosted by Momentum Media
DBA Lawyers director Daniel Butler provides tips and insights on guiding SMSF clients through the ATO's early engagement and voluntary disclosure service. With contraventions on the rise and the ATO undertaking more reviews, Daniel Butler explains the types of circumstances where SMSF clients may want to use the ATO's voluntary disclosure service. Daniel also discusses what SMSF clients need to do to prepare when making a voluntary disclosure and how the ATO may respond. He also explains the kinds of proposals that might be included in a voluntary disclosure including an enforceable undertaking and advises SMSF professionals on the importance of warning clients on the potential consequences including penalties and the fund being rendered non-compliant.
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