Increased Scrutiny of Super Auditors

The Tax Office has warned of increased scrutiny of self-managed super funds and their auditors as it gears up to impose penalties of up to $10,200 on funds found breaking the law from July. Tax Office assistant commissioner for superannuation Matthew Bambrick said among the methods they will use to find “high-risk” funds to apply a range of new fines it can impose from July 1 will be detailed questioning over the phone of trustees identified as “medium risk” and trawling newspapers for auditors advertising low-cost services. Click Here >>