Non-complying SMSF

This is a fund that has been declared non-complying by the Australian Taxation Office as SMSF regulator. The ATO may take steps to make a fund non-complying if the fund has committed multiple breaches of superannuation law, or if a single breach that is considered sufficiently significant. Hefty tax penalties are applied to non-complying funds that may result in members losing much of their superannuation savings.
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