The SMSF Association and Australian Tax Office (ATO) have announced a three-year strategic partnership, effective 15 February 2017.

In a statement of intent released today, the Association and ATO outlined their intentions to work together to ensure effective regulation and integrity of the SMSF sector. The goals include improve and maintain the integrity and professionalism of the SMSF sector and focus on enhancing industry knowledge and competency, with trustees being a major target. It will also focus on influencing ‘right behavior’.

This will involve developing the knowledge and competency of SMSF professionals and trustees; undertaking shared research and knowledge projects; actively seeking opportunities for joint and complementary communication; and improving efficiency in the dealings between the SMSF sector, the regulator and government.”

The Commissioner of Taxation, Chris Jordan, AO, says productive partnerships with industry bodies such as the SMSF Association are key to the ATO being a leading tax and superannuation administration.

[ATO website – SMSF-ATO] [LTN 30, 16/2/17]