16,500 SMSFs under ATO investigation for potential valuation compliance issues in property, unlisted companies, and trusts.
The ATO is investigating 16,500 SMSFs over valuation compliance, focusing on residential and commercial property, unlisted companies, and unlisted trust investments. The ATO is concerned that some funds may not be meeting their legal requirement to value and report their assets. Over 1,000 SMSF auditors are linked to this high-risk population, but no auditor contravention reports (ACRs) have been lodged for potential breaches of market valuation rules.
March 26, 2024
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